TOP 3 MISTAKES in Real Estate Investing 2022
All right, so here are the top three mistakes that real estate entrepreneurs are making right now
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What’s up guys, welcome to my channel. I am Justin Colby. And if you have not yet subscribed now is your chance to do so I drop at least five videos a week all about entrepreneurship in real estate. So the first mistake I see real estate investors making right now is they are focusing on one single exit strategy. I don’t agree with that now Yes, I love wholesaling and I’m one that even coaches wholesaling. I actively do 10 to 20 wholesale deals a month. However, making that your only exit strategy ever means you’re not going into acquire the property with an arsenal of options. You see, if you limit your exit strategy to just wholesaling, you’re also limiting your acquisition strategy. The reason why I’m able to do so many deals each and every month is because I don’t limit my exit strategy. If there is a good buy and hold or a flip or innovation or a whole tail, then we will contract the property as such, so we can exit it with the right strategy involved. The second biggest mistake I am noticing entrepreneurs in real estate make is they are doing a lot of busy work, but they’re not focusing on our G A’s. What is an RGA you ask? Well, RGA means revenue generating activities. I’ve coached 1000s of students over my nine years of being your coach. And I’ll tell you the number one key performance indicator I focus on is how many offers are you making daily. I currently coach my students to make five offers a day and students are getting deals at a rapid pace in my program. I mentioned that because as a coach, I focus on making them do RGA is revenue generating activities, not doing things like building websites or making business cards. By the way, if you are looking for websites, there’s no better place than minutepages.com to find real estate investing specific websites. Minutepages.com is the best real estate investing website.
There is on the market period. Go check it out. And lastly, and maybe even most importantly, is people are allowing the news to make too much of an impact on their business. Everyone is talking about interest rates going up everyone is talking about inflation. And so people are absolutely freaking out which is causing a freeze in what they’re doing. They’re stopping everything they’re getting frozen in this idea of the real estate market is changing. They actually need to be pushing forward. They need to be fluid, they need to be dynamic, they need to be diverse in what they are doing. They should not be freezing. But that’s what happens when you allow fear to sink in. Everyone thinks the world is crumbling because the news is going to tell you that because that’s what sells. The reality is I’m still doing the exact same amount of deals this month and last month as I did six months ago or even a year ago. Because I remained fluid. I remain diverse. I focus on multiple exit strategies and I don’t get caught up in the fear. If you liked this video, make sure you smash the like button if you have not yet subscribed, make sure to do so I drop at least five videos a week about entrepreneurship in real estate.
