Submitting Real Deals

Some real estate investors spend all of their time looking for
properties and not enough time on the funding sources. Some
investors spend all of their time trying to develop funding sources
and not enough time on finding great investment properties. You
need to strike a balance if you want to find, close and fund your
deals quickly. Any type of information on any topic can be found
on the internet. The question is, where is your time best
invested? Do you want to be writing offers on property and
submitting real deals for funding or do you constantly want to be
trying to compile and organize information that is necessary to
your business? To be effective in getting properties funded
quickly, you need to be very organized. You should be spending
about 10 to 15 hours a week on your business, with 80% almost
equally divided between writing offers on property and submitting
deals for funding. The other 20% of your time should be invested
in negotiating, closing, accompanying inspectors and appraisers,
and the REAL nuts and bolts of investing.

Sometimes it is easy to get distracted and you try to wear too many
hats. The internet is like a vast ocean and just because it is
there doesn't mean that you should try to swim it when it's easier
to rent a charter boat. Time wasted is not time invested. Invest
your time in the deals. Invest your time in relationships. Invest
your time learning your investing market. It is the only way to
successfully navigate the real estate world. If you are not
closing deals, you are doing something wrong. Most of the time it
is simply not recognizing the mistakes you are making and repeating
them over and over again. Real estate investing is not for
everyone and those who are successful soon learn that they get
better results by modeling success and doing what successful real
estate investors do. If you're serious about your real estate
investing business, set a small amount of money aside so you will
have the basic tools that you need. If you're not willing to
invest any money in real estate investing tools, you should
probably reconsider whether real estate investing is right for you.

Of course, you can also go overboard on investing in tools. I know
people who spend tens of thousands of dollars on real estate
courses, coaching and mentoring and never even write one offer on
property. There are people who spend hundreds of dollars a year on
subscribing to foreclosure listing services and never write an
offer. The basic tools you need for real estate investing should
not cost you more than a few hundred dollars at most so you can
have a steady supply of good investment property and funding
sources. Think of it this way. If you want to build a house, you
can try to create the plans yourself, and although you will have
many drawings and spend a lot of time trying to do it yourself, you
will probably never have what you need to actually build the house.

If you can afford to, you can hire a high cost architect to
create a custom design for you. Or you can buy a set of
blue-prints for a home you like and then just make minor
modifications suited to your needs. Most people start with blue
prints because its a a cost-effective way to go to the next step,
which is getting a building lot, lining up construction financing,
and hiring a contractor.