What Aren’t You Success in Short Sales?
Jul 24th, 2008 | By cboatright | Category: Featured, Short Sale Questions
I had a rather interesting email sent to me that made me think that others would have a lot to contribute to the subject of it. It is an interesting way to think about solving challenges you are dealing with in short sale investing, but I believe from all the responses we get from this it can serve many people with answers they are seeking for it.
So… here is the email.
Cory,
As in your attached message, you frequently ask for success testimonials, which is good and encouraging to everyone. Do you ever ask for feedback from your students that have not experienced success to understand why they are not successful to offer them suggestions and encouragement? It is not expected that you would respond to every message, but instead to analyze and address the patterns of unsuccessful effort.
Thanks, in advance, for your being a servant to your "still to be"
successful students, as well!
I think this is a great subject to discuss so what do you have to contribute towards it?
What are some the things you are struggling with now in your short sale investing? Leave a few comments so we can get a lot of feedback to help others.
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Interesting question!
While I have not experienced “no success” after spending time and money on real estate seminars and courses, like Cory’s SSF, I am experiencing growth issues and not being able to keep up with everything. We choose to learn every exit strategy! The only reason why we are able to be successful at all the strategy is we have a good team and basic systems in place (still a work in progress). I defiantly recommend that you pick one strategy and focus on it until you get a few deals under your belt. Like Wholesaling! Get a few good short sale leads and get them going and then plan on wholesaling them quickly. Or if you have limited funding, you may want to partner up with someone with money.
I think the reason why most new investors fail, even after spending thousands of dollars on education, is fear. The fear of putting a house under contract and being obligated to actually pay and close on that property. It’s all those steps you have to do in between, during and after that is unknown. Remember learning how to drive for the first time? You could not remember everything you needed to do and kept both hands on the steering wheel only to forget something. Now, today, you talk on the cell phone, eat a hamburger, comb your hair, write a note, drive with your knees, put eye lash makeup (some guys too!), and change shirts at the same time and you do not even worry about crashing, let alone get pulled over. And for those who have worldly experience, those times driving intoxicated…Yikes! How was it possible without crashing?
So, combine the above with trying a shortsale? Lot of things to know and learn so immerse yourself into learning everything you can. Buy a course, go to youtube and search for shortsale videos, go to seminars, network at your local REIA and visit with some homeowners! Yes, that is the best experience, visit with a homeowner in distress and realize how easy it is. Be honest, open and up front and it will pay off. You will learn from each experience.
In short: Learn as much as you can and re-listen/reread all the materials over and over. As with any learning, things you didn’t understand will soon be understood.
Now, go buy Cory’s course and signup for ShortSaleology!
The thing that’s slowing us down the most right now is not having the proper systems in place. Setting up the correct entities, setting up a CRM, and utilizing technology (such as live answering services) to minimize our work load will all be important in making sure our company can handle the growth that’s coming as the mortgage crisis increases the number of available motivated sellers.
Cory, you’ve recommended Realeflow. Have you had the opportunity to try other systems? How do them compare/contrast with Realeflow?