07 Nov INVESTORS’ CORNER: Real Estate Hypnosis II
Editor’s note: This is the second of a two-part column. The first appeared Sept. 23.
“You need money to make money”: This is the most powerful hypnotic lie for most investors.
For most of my students this is the biggest barrier they need to break down. This is the single most powerful belief preventing your success.
I know: I believed it for a very long time myself. I thought, if I don’t have money to invest, how am I going to buy a house or rental property?
However, I am living proof that you don’t need money to make money. I had no money when I first started. When I say no money, I mean no money. In fact, in my very first deal, I didn’t have the $4,000 in closing costs needed to close the deal. I took out a cash-advance credit card loan to pay for it.
Yet today, I am a well-established millionaire. You can be too. You just have to disregard the belief that you need money to invest.
“The money is the easy part; if the deal is good enough, the money will find you.” It’s true. There is so much money out there. Just because you don’t have money, doesn’t mean the guy next to you doesn’t, either.
If you are analyzing your deals the right way; if you are writing offers the right way and the deal works, the money is the easy part. I know that may be hard to believe, but I want you to really work on believing that money will find you, once you have a good deal.
Where is the money? At your local Metrolina Real Estate Investors Association, in Charlotte. (www.MetrolinaREIA.com). In this group, there are millions of dollars available to lend for good deals, such as hard-money lenders, private lenders with money drawing near zero interest in IRAs and savings accounts, etc. They want to loan you money for good deals. They need you.
Success can be the result of good communications. Every word you use, every phrase you speak has an impact. That impact can be negative or positive. The words you use, the way you dress, how you hold yourself, your body language and the tone of your voice will all determine how many deals you do.
Sellers want you to be the expert. They want you to be their problem solver. They called you to help them. To help, you must listen to determine their pain. Solve the pain, and you will close the deal.
Chris McClatchey is a national speaker and Education Director at the National REIA and a longtime friend of the Metrolina Real Estate Investors Association, which provides education, mentoring, and networking for real estate investing in the Charlotte region. He can be contacted at www.myrealwealth.com. For more information, visit www.MetrolinaREIA.org.