Being in the trenches as a full-time investor since 2003, I’ve learned a thing or two about growing an investing business. I’ve done a lot of things right… and have made my fair share of mistakes along the way.
Hey Moguls, Patrick Riddle here, and below is a list of 11 tips that will help you build your business faster and easier… while avoiding many of the common pitfalls that plague investors.
Hop to it…
1) Do What Experienced Investors Tell You to Do
I remember the first real estate boot camp I attended where my mentor said:
“The biggest mistake you can make is not doing exactly what I say.”
Believe it, folks.
I remember another time when one of my students was having trouble getting private money and asked if I’d hop on the phone with him. After just 3 minutes of asking him a few questions, it was clear why he wasn’t getting any private money…
He wasn’t following the process we teach…
Patrick Riddle
has been investing in real estate ever since he got the bug in college at Clemson University and - to his parents dismay - dropped out of college to dive full-time into real estate at the age of 22 with a couple friends/partners from school.
The first few deals were rough for them, mainly using their own cash, credit, and hard money loans. But, soon he found out that was a rough and unsustainable way to build a real estate business.
After "on the job" learning through the school of hard knocks at first, he found the key that helped their company get deals done more quickly, with higher profit, less risk, without having to go to banks or use their own cash.
Fast forward to today, their company has closed over 130 real estate transactions and has put over $6 million in private money into their own transactions.