Create Your Own Deal Flow in 3 Steps

Real Estate Investing is like fishing in some ways. You have to learn how to find the Big Ones without working too hard.

I have been a fly fisherman for years and even dabble in tying my own flies.

Standing by the stream you will soon notice that the biggest fish are not the ones eating the flies on the surface of the water.

The biggest fish don't spend that much energy. They like to be served their dinner in a more quiet fashion.

Polarized sunglasses will let you see the really big fish sitting quietly behind each rock and stump on the bottom of the stream.

They sit in the slack water behind the rocks waiting for bits of food to flow by on the current. Then they just turn their heads and gulp it down and return to their resting place.

When you want to be a Big Fish Real Estate Investor, the secret is to get profitable projects to flow right across your desk.

I am talking about Deal Flow here. Deal Flow is when Projects come to You

Just like the big trout, you grab them as they flow across your desk and keep only the big juicy ones. You can set this up so that it happens automatically in just three steps.

Step 1) Get Crystal Clear on Your Goals

Take a moment and decide ... what are your goals for your Investments and Net Worth for the next year.

- What property purchases do you want to make?

- How many projects for what dollar volume do you want to take on?

- What amount do you want to add to your Net Worth?

When you are crystal clear on your answers to these questions, you are ready to move to the next step.

Step 2) Build Your Network

Get the word out. Let EVERYONE you know in on your goals, especially if they have a business reason for helpin you reach them.

The more people who know your goals, the more people who can help you reach them. You know, people really do love to help and I will go so far as to guarantee you this...

If you aren't seeing enough profitable deals flowing to you right now it is only because not enough people know your goals and what you are looking for.

The Bigger Your Network, the Better Time for High Gear

Build a detailed plan to enlarge your network with exactly the kind of people you know can help you reach your goals.

Go through your contact list and pick

- several Real Estate Agents/Brokers

- Title Companies

- Real Estate Lawyers

- A Mortgage Broker or two

- CPA's

- A couple of Appraisers

- Property Managers

- Bankers/Lenders

- 1031 Intermediaries and any more you can think of

List everyone you know in your town and in your target market who would benefit from you reaching your Real Estate Investing goals. Once you have the list ... tell each one what you are looking to accomplish in this next year.

Leave them your business card and make sure you keep in contact every several months to stay in touch.

Here is a way to go even faster

Step 3) Put Energy in BEFORE You Expect a Return

When you are building your Network it is important to fed and care for it properly. Make your's a two-way Network by putting your time and energy in as well as asking for other's support.

The Secret? To get what you want you have to give other people what they want.

Take every opportunity to ask the people in your network what their goals are - what they want and need - and give it to them every chance you get.

If your goal is buildable land and your contact wants a multifamily deal ... and you run into and great multifamily project - let them know. This act of kindness will circle back in the form of a referral from that same person for just the tract you are looking for.

These three steps are the key - it is that simple

1) Clarity on Your Goals

2) Create A Network And Tell Them All

3) Help Your Network Reach Their Goals

Remember the big trout at the bottom of the stream. The current brought the food right to them. Your Network will do the exact same thing. Your Network is your current.

These three steps implemented every day - make it a part of your basic routine - will allow you to generate your own Deal Flow that lasts as long as you continue to feed your Network.

You will soon be able to sit back like a Big Fish and just watch the deals come across your desk grabbing only the meaty ones to take on.