Sometimes we get so busy around here that we forget to upload all the cool footage I take during my travels. Such is the case with this short set of Video Diary entries!
I enjoy watching these clips because they remind me of my trip to Lithuania and all I learned from the other instructors and the young entrepreneurs who attended.
During my week at Simon Black’s Young Entrepreneurs Academy I got to walk the grounds, looking at the places and spaces. I want you to pay attention as you watch me do a bit of that. I have some insights with you about Real Estate Investing.
Here are a few things for you to keep in mind as you watch this set of entries:
• Sales skills are pretty much the same everywhere. No matter where you travel in the world, the sales process requires conversation, great questions and listening. But first, you have to know your market. The sales happen only after that.
• Learning requires watching others do, then doing it with them and finally teaching others to do!
• Your market matters when constructing spaces. All Real Estate is “local.” When you are creating spaces (with construction), you have to consider whom you are serving. For example, in Lithuania, the people are on average shorter. I’m tall. I’m obviously not the target market, but if I were you’d have to give me more head room!
• What you do with your cashflow is important. When you begin investing in bigger and bigger deals, your cashflow grows. What will you do with it? Certainly not spend it on doo dads. It’s best to put it back into your investments to create more cashflow. You can do what the land owner in Lithuania does and expand your project. Units of production IS the name of the game in investing!
• Playing Cashflow 101 is fun, no matter where you play! It’s a great way to make new friends, network and meet people with whom you might do some deals.
• Opportunities are everywhere. No matter the location, what is required to do deals is one thing: PEOPLE. If there are people, there are deals to be had.
• People skills are critical as a Real Estate Investor. You can do deals anywhere, but you won’t do many if you don’t have good people skills. Develop them. Then create the cashflow and financial freedom you desire.
• Downtown areas are frequently considered “Wal-Mart properties”! Take a look at why I say that. Even in the downtown area near the event in Lithuania, there are signs that someone could come in and solve a few problems. Maybe that’s you!