Create Your Own Deal Flow In 3 Steps

There are a lot of similarities between Fishing and Real Estate Investing. You are always looking to find the Big Ones without wearing yourself out.

I have been a fly fisherman for years and even dabble in tying my own flies.

One thing I learned a long time ago is that the really big fish are not the ones you see hitting the flies on the surface.

No ... the really big fish don't like to waste that much energy. They like the food to come to them.

With a pair of polarized sunglasses you can look down into the stream and see the biggest fish parked behind the rocks and stumps.

They sit in the slack water behind the rocks waiting for bits of food to flow by on the current. Then they just turn their heads and gulp it down and return to their resting place.

The secret to being a Real Estate Big Fish is to set yourself up so that the Flow brings profitable projects right to your desk.

It's called Deal Flow ... when you see multiple profitable projects flowing by your eyes every day.

You play the Big Fish and nab the best deals as they stream by and you can create a system that makes this flow happen automatically with these three steps.

Step 1) Set Perfectly Clear Goals

Think for a second ... what are your Real Estate and Financial Goals for the next 12-18 months?

- How many properties do you want to buy?

- What dollar value and how many projects will you take on?

- How much do you want your Net Worth to grow?

When you are crystal clear on your answers to these questions, you are ready to move to the next step.

Step 2) Constructing Your Network

Get the word out. Let EVERYONE you know in on your goals, especially if they have a business reason for helpin you reach them.

The more people who know your goals, the more people who can help you reach them. You know, people really do love to help and I will go so far as to guarantee you this...

If you are not satisfied with the number of deals coming your way it is because not enough people know what you are looking for.

The Size Of Your Network Is The Key. So Let's Power it Up

Build a detailed plan to enlarge your network with exactly the kind of people you know can help you reach your goals.

Write down your current contact list and circle

- a bunch of Brokers & Agents

- A couple of Title & Escrow Companies

- A brace of Real Estate Lawyers

- Mortgage Brokers

- CPA's

- Some Appraisers

- Property Managers

- Lenders/Bankers

- 1031 Facilitators and others

Write down anyone and everyone who would benefit by helping you reach your Real Estate Goals and then call each one up and tell them exactly what you are up to. Let them know your goals, straight up.

Give them your contact information and stay in touch at least four times a year.

Now let's put it into high gear.

Step 3) Pay it Forward to Kick Start the Flow

When you are building your Network it is important to fed and care for it properly. Make your's a two-way Network by putting your time and energy in as well as asking for other's support.

The Secret? To get what you want you have to give other people what they want.

Take every opportunity to ask the people in your network what their goals are - what they want and need - and give it to them every chance you get.

If your goal is buildable land and your contact wants a multifamily deal ... and you run into and great multifamily project - let them know. This act of kindness will circle back in the form of a referral from that same person for just the tract you are looking for.

It can be as simple as these three steps

1) Know Your Goals

3) Grow Your Network and Feed it Well

3) Help Network Members Whenever You Can

You can be the Big Fish in the stream with your Network as the current that brings you deal after deal to snack on.

If you pursue this course steadily, diligently, patiently for a few short months, you will establish your own Deal Flow that will last as long as you want it too.

You will be able to relax like the Big Fish in the river and let the deals come to you you snagging only the best ones - the ones with the most "meat on the bones" for your very own.

Article Source: http://www.articlemonk.com

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