BTM118: Your Real Estate Strategy Sucks (heres why)
This is Durell AALIYAH and you're listening to the for the millions podcast episode when eighteen your strategy sucks here's. Why are you ready to be the master architect of your life? Are you ready to design your business. Mrs Invested leads the lifestyle. You've always dreamt up. Are you ready to learn from entrepreneurs and millionaires who have achieved a certain level of success. Hey this is Derek Location Independent entrepreneur and you're listening to the before the millions podcasts hi. I'm Gina in a Lofton I am an investor and you're listening to the before the millions podcast hey there my name is heather haven would marketing coach and global entrepreneur and you are listening to the before the millions podcasts. Hey this is Marcus crispy host host of the seven minute mental podcast global entrepreneur all round Geek and you listening to the before the millions podcasts I am MC lobster the cash linenger and you're listening to before the millions bought cost. You're listening to the before the a million's podcast a whether you're looking to invest more cash flow all building online business that allows you to be location independent. You come to the right place. Mr Hollywood himself presents the before the millions podcast Joie Ray. What did you be T._M.? Tribe look into this Friday bonus episode of the before the man's had cast and on today's so we're GONNA get right to do it again. I just started this new bonus installment and this is. Tom Is going to feature. Just whatever I think should be the bonus for that. We saw started going live on social media like instagram facebook in just giving little tidbits and tricks and hacks and different ways of thinking thinking about real estate and heritage. I've been doing win to do it and how to do it and just got done with a facebook live and I was just like hey. This should be the Friday onus episode for my podcast listeners because I believe your strategy. He sucks now before you get your pennies and a bunch hear me out. The strategy that I'm claiming sucks is the exact strategy started with so I am in no way mean shape or form above the fold but I had to learn through experiences scientists so if you haven't get started you can actually learn from my experience and experience others so that you can have a much much better runway out of the gate now. If you've already started this episode will actually help you as well because it's GonNa give you a little bit of a different. Don't worry about thinking about your real estate investments and maybe even perhaps a real estate business so again. I'm not going to get into any tips of the week. WE'RE NOT GONNA go into this long intro not give you any updates. If you guys want updates tips of the week all that good stuff listen listen to our weekly Tuesday episode even producing it for over two years now and again subscribe to the podcast and share this episode with the friend if you could help somebody who's trying to get started in real estate but their strategy sucks or who just starting real estate and I don't know how to scale this episode is for you. Check it out and now you're feature presentation. y'All what is going on but people Durell Alliott here in I wanNA talk to you today about how making a down payment on your first assessment property could be your biggest mistake ever how pudding Winnie down at all on investment property could be this good mistake. How starting down this path of investing before you actually think about a business on a solid business fine could be detrimental a mental to your entire during so we're talking about all that here really quick in the next few minutes a one? I start off by saying that this is not something that I'm planning guessing I literally a huge downing per semester and it's crazy because I waited the twenty two twenty five percent downpayment and that's something that she figured out that you're going to avoid as well right down to get into one of these rights. There's nothing wrong with <hes> but I wanted to understand that even at that level for one hundred fifty two hundred eight property or Stephen. Could be on ten to twenty grand right when you include all the other fees in closing costs once everything's all set into Johnson says eighteen eighteen Grand Prix person investment properties probably GonNa make you about two hundred dollars. Maybe three hundred dollars for me was so if you make the next one year office prompted US thirty six hundred dollars. That's not bad right but think about the fact that you're trying to escape rice. Maybe in the next two years I was on this race two years so eighteen grand say was literally gone by the time I bought my personal property and I started making Janjic dolls much when you realize that expenses that that Eaton's officers so you just have one expense in that year it's like major <unk> will that thirty six hundred dollars <unk> is that year completely went out and even maybe some profit from the next year so it's really hard to scale his way to save another eighteen. My second missile pre this is very hard and it's kind of a very long time to do not going to meet my two year horizon so I'm probably what I think that we should all be again. There's a ton of groceries out there on talk about all these strategies head over to board meetings dot com but round WanNa. I'll give you guys here's the process row overall. I believe that we should do. We should create a <unk> business. I strike so KEDO marketing machine and so it's fan that eighteen at one time this is we spend anywhere from five hundred dollars so one K per month on marketing now that is gonNA. You'll you on the high end one to like. I don't think I were anybody that's over one. Come on average in about five to give to spend a little bit marketing to bring in leads right so that you could virus there just wanted about five hundred thousand dollars per month marketing for the next eighteen months moisture spending that we have a thirty six months away for screening five hundred but let's just say these the business marketing budget bring join about. Absolutely none of those <unk> Wendy permanent so twenty leads a month which according Wendy <unk> now the extra-judicial pursuing with these with these leads is Germane. You're selling the contracts right so flipping the contracts now explain that before the main dot com which are flipping the contracts where he make five kegs ten K. or fifteen hang on these deals so as you can see how you can start making at the becoming real estate ten twenty K. on on pouring into your pass a bucket start buying right. Stop putting down those those downtime is to start on more investment because again the goal assisting threat was much passive income sauce right putting eighteen came down on your first abysmal property. Pretty is not the fastest way fast way to build a real estate business building marketing machine so that you're getting needs in every single month. Even don't close your whole first year like let's say you spending a thousand dollars a month and the hull bristow. You're getting twenty lease just not you're not a quick closing deals in this offense. That's our <unk> nine. Quick yet with the with the skills to close on these deals and sexual whole year to finally get everything you spent twelve k knowing your thirteenth headway. You've got a felony. I first five thousand dollars the next month you realize that you can do it again. You do it again in the beginning again well again. You're still win at a much faster pace to be able to put down these hemisphere investment properties so that you can escape the rat rat race that much clearer hope that makes guys so we're going out with the Boca's here is to build up your real estate marketing Shane right pursue creative strategies so that you can start making actively gump and poor that acting begun to pass buckets. It's so the next two to three years in the super help hold on just now starting to being in the series series Hubbard's how on if you liked the series Mitchell give me a like or maybe even jump Commun-.