In my last blog entitled, How Can A Newbie Get Started and Build Credibility, we discussed the first steps when beginning in the business.
So after you’ve found the right mentor, began establishing credibility, and learned how to “walk the walk,” you can move forward into growing your success beyond that of simply a novice.
The next thing you want to do is plug into an existing system; if there’s a way for you to partner with someone else who has experience in the industry. And if you bring money, time or effort into a situation, and you can find a resource that an investor needs then this will help you get started in the business.
Additionally, I would recommend choosing your market, then begin marketing to find deals or begin networking to find buyers and so you can go and find the deals that you want.
So you’ve got to decide which of those things you want to start working on, or if you’re going to focus on acquiring more capital. For me, as an experienced vet in this business, I spend more of my time bringing in more capital in order to buy more deals. Because for me, you can spend the same amount of time to go and find a deal, fix a deal, flip a deal, find a buyer, as you can to raise a $1 million.
So more of our philosophy is raise more money – get more money working for you – and you’ll have more success.
My business partner, Randle Bowling, and I wrote a book called Building Generational Wealth and one of our philosophies in that is that you want to have your money produce its own money. Your money should be accelerating on its own, so the more money you have working for you, the more success you’re going to have from a business standpoint. Our goal is always to turn more cycles of money per year than what others do.
Doing this business right, you can really accelerate your wealth, so I focus more of my time and energy on acquiring more capital, finding more private investors, setting up more structures, and creating more people out there who know who we are, know what we do, and establish our credibility.
Thanks again for reading and being a part of the TAI Community!
– Dutch Mendenhall