Okay, so where were we…?
I was telling you guys that you can actually fake credibility when it comes to borrowing private money by having The Four Essential Traits for a Credible Real Estate Investor…
I taught you my N.A.C.K. for “hacking credibility” so you can “fake it until you make it”…
So now, I’m going to teach you The Iron Law of Credibility, which is a constant you always need to keep in mind to keep you confident and determined.
Excuses, Excuses.
But let’s tackle the problem right at its core:
We all know real estate investing can make you a multi-millionaire in about 20 years or less, and that’s why we’re here… on this page learning about real estate investing. But yet, very few of us get make it into this minority.
Bvut why?? Especially when when it comes down to it's core real estate investing only takes 2 simple steps:
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Basic know-how
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Action
That’s nothing – REALLY. We’ve committed to the knowledge part, it must mean that we aren’t taking enough action.
A goal without action, is just a conversation.
Why?
Because deep down, we are terrified at failing at something we really try to do – so we make excuses.
I haven’t had the time.
I still don’t have the knowledge I need. I’m still learning.
I haven’t found the right deal.
I am still figuring out my niche.
I don’t have the money.
I DON’T HAVE THE CREDIBILITY.
No offense, but you’re just making excuses.
You know how I know? Because…
The Iron Law:
No matter how credible you are, someone… somewhere… is out there waiting for you. Don’t get stuck on 1 person. There is always a right fit. Some will, some won’t, but someone is waiting.
I promise you that.
So quit you’re crying and keep going – IT WILL HAPPEN.
Do you need the reassurance?
Even without confidence or money, it’s so easy. You can make it happen by:
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Continuing, targeted education
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Networking with local investors
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Looking for motivated sellers
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Contracting with an escape clause
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Assigning contracts
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Congrats, you just made a deal
See, you don’t even need the money. My last assignment made me $10,000.
I hope my pep talk has given you some confidence and motivation, but remember…
The Ultimate Clincher
If you want to be credible and successful, run an active real estate business. You absolutely always have to be taking action.
Keep an eye out for the next 2 parts in this series where I give you very specific “hacks” to credibility for private money meetings.
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Realize that you are making excuses and stop it. Even without money and credibility, it can still be done.
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Remember the Iron Law: Someone out there will eventually say “yes”, keep going until you find them.
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Continue educating yourself, networking, and taking action (especially to find motivated sellers). Remember, you can always use an escape clause and assign the contract.
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Take action, action, and more action.
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.