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I’m on my way to get my haircut, and I wanted to talk to you about the 4 M’s of success. The first is a mindset. I could teach you all the ways you could do a deal, but if you don’t believe you could actually do it, then you won’t get very far. I have a feeling if you’re listening to this podcast, you believe that being successful in real estate is possible, so make sure you’re doing what it takes to really believe that it’s possible for YOU.

The second M is marketing. I say all the time, it all starts and ends with marketing. If you want financial freedom, you have to make money, which means doing deals, talking to sellers, and getting leads. You can’t do that without marketing. It takes some time to build a pipeline of leads, but a solid marketing plan will get you there. Which is a great lead in to the third M, momentum. It’s the key to success in this business. When you’re getting started, if you’re not making offers and doing consistent marketing, you will lose momentum. Once you get the train rolling, it gets hard to stop, but you have to always keep the momentum going with consistent action. Your speed to income is directly proportional to the offers that you make, no matter what industry you’re in.

The fourth M is mentorship. It’s so important to have a great mentor to help you take a look at where you’re at, where you want to be, and the gaps in between. Mentors hold you accountable with the other 3 M’s and help you get to a place of success faster.

Listen and learn:

What’s inside:

  • The 4 M’s to real estate success.
  • How to apply the 4 M's to your business.

Mentioned in this Episode:


Download episode transcript in PDF format here…

What's going on? Joe here, REI  in your car.

I'm actually driving right now on my way to a haircut appointment, so maybe, maybe if there's a part too, I'll tell you how it went. Anyway, I wanted to talk to you about something cool today, talking about the M's to success. I used to have three M's. But I added a fourth. And so you ready, you ready for this, the three or four to success, actually to see if I can remember the fourth, but I know the first one is so let's start there.

OK, the first m to success is mindset, right? It's all about mindset because I could teach you all of the ways to do a deal like I just did a podcast talking about a vacant land deal that we flipped and made 15 grand on. And yeah, I went there really fast, like 20 minutes. But like I told you everything that you have to do, it's like there. But if you don't believe that you can actually do this or if you don't believe it, it can actually be done while your mind's all messed up, right? So you've got to no one believe that you can do it and believe that it can be done. So I don't know, do you? I think I'm assuming that you do. I do believe that if you're listening to this podcast, are you listening to any kind of real estate investing podcast? You believe that you can do deals right? You believe that it can be done and you believe you can be the one who who does it. So that's number one, importance mindset. You know, sometimes I feel like I'm not a good teacher of mindset, like, I like diving into the technical details of this and that. But mindset is so important, and I've sometimes have told people like, Yeah, if you want to get encouraged or if you want to believe in yourself, like, go watch Tony Robbins video or watch somebody yelling at you on YouTube or something and like, but here's what you need to do. Like, once you believe you can do it, then come back to my podcasts or my buy stuff and I'll teach you how to do it because I've never I don't think I've had a problem with really believing that I can do it because I know I can, and I've seen it done and I've seen people do it. And so I'm like, Well, if they can do it, I can do it right. If that idiot can do it, you know, like, why can't I do it? I'm not as stupid as they are now, anyway. I'm just kind of teasing, but really, it's kind of, I guess for me, that's the only mindset hack I need is I just need to see somebody that I don't think is as asas intelligent as me. That sounds really sound like a complete jerk now. But you know what I'm saying? Like, if you look at somebody, even if that guy can do it, then certainly I could do it like that. It can't be that hard. So that's my mindset trick. Whatever your trick is, you know, then you'd think maybe that's what you need to think about. So you got to believe that it can be done in number two, then you've got to believe that you can do it. So mindset, that's number one. The first am to success.

The second m, can anybody guess is marketing? Yeah, I say this 100 million times. We're not in the real estate investing business. We're in the marketing business. It all starts and begins with marketing. And I would say it maybe ends with marketing because like, that's it all. It's its marketing is everything and everything is marketing. We're not in the real estate investing business. We're the marketing business. Solike, you want to make money, you want to find financial freedom when you got to make money, right? You want to make money. You got to do deals. If you're interested in real estate, if you want to do deals, you got to make offers if you want to make offers. You got to talk to sellers and you want to talk to sellers. You need to do what you need to get leads and get leads. You need to do marketing. And so marketing is so important, and they've talked about it over and over like I didn't. I heard my mentors talk about it. By the way, if you're listening in to my some of my language, I've already given you the other two hymns. But OK, so if you are like, well, I was listening to my mentors telling me, like, you've got to do marketing and you've got to do it consistently, but here's what happens like, it's a big, huge mistake investors make where they are. They get a deal under contract and they're so excited. And then they do every they drop everything else to start getting that property sold and they start advertising and marketing it and calling buyers and whatever, right? But sometimes deals fall through and they don't actually close or something comes up at title, and it's not a good deal or you have to back out or you thought it was a good deal, but nobody's interested in it because it was really not a good deal. So you've got to have more than one egg in your basket. You need to have multiple deals in your basket. If the deal falls apart, you've got something else coming through. Right. So I learned this mistake lesson early on because I would do a bunch of marketing and then. Stop the marketing to get these leads, work these leads and get them under contract, and then I would, you know, start I'd get three properties and maybe sell two of them or something and then turn around in my pipeline is what empty? And I don't have any new leads coming in. And so then I'm like, Oh, I'm freaking out and making some money all excited, but then freaking out because I don't have any new leads. And then it's not like it's a light switch that just turns off and on where all of a sudden now leads are coming in. No, it's like you. It takes time. It sometimes will take a couple of three months before you actually start seeing momentum in your marketing, where the leads are now coming in. And now you're following up with old leads and now you're starting to make offers, and now the deals are starting to come in. Does that make sense? So you've got to be consistently doing marketing and this could be another M.. Well, maybe it is. Yeah, I was going, OK.

Momentum. That's my other m, I think. Is it right or making offers? No, that's oh OK. Momentum is the other M, and it kind of relates to all this because you got to get your marketing done for you in spite of you. You've got to get your marketing done for you in spite of you. And that leads to the other end of momentum is the key to success in this business because you need to understand that when you are getting started in in any kind of business, if you're not making offers consistently, if you're not consistently marketing and you're not getting a ton of leads coming in, you're going to lose momentum. And it sometimes it takes a couple of three four six months to do deals like when you're pulling it, if you've picture you're pulling a train with a chain and you know, it's really hard at first, if not impossible. But like once you maybe get some help and you start pulling it, you build that momentum in that train. Or it's like pushing a big, heavy rock down a hill. It's really hard at first, right? But once it gets going and the momentum starts building, it gets hard to stop. So you've got to get somebody else to do the marketing for you, whatever you're not good at. The follow up, the putting your leads in a database, the making offers or whatever, whatever you've got to get somebody else doing that for you in spite of you. So get your marketing done for you in spite of you. So you're you're always getting leads, filling your pipeline and then you're not the motivated buyer who desperately looking for a deal, trying to turn lemons into lemonade. You know, if you make your profit when you buy, you need to make sure you're not a motivated buyer begging for deals because sellers can smell your desperation from a mile away. You've got to build momentum momentum in your business, so that means you're always making offers. And the third him is momentum. You've always, always, always, always got to be making offers because once you stop making offers and you start losing momentum, you're going to get in trouble and you won't see it right away, but it takes time. And so sometimes again, like I've said, you need two or three months of consistently making a lot of offers where you start getting that momentum and then you start making money, start doing deals. So you've got to, you know, I always say if you talk to five sellers a day and just make that your goal and then like make an offer to every seller you talk to, you're going to find that momentum and it's going to start growing and it's going to start making money. So your speed to income is directly proportional to the number of offers that you make your speed to income. How much money you're making is directly proportional to the number of offers that you make, and it doesn't matter what business you're in. Real estate, dentistry, chiropractic. My son wants to be a chiropractor. Go figure. So you've got to be making offers. You've got to be telling people about, Hey, I've, you know, do you want to sell your house or buy your house? Here's an offer. Okay? What is it? Just got to my haircut place. I got to hurry up. The fourth is you need a mentor, OK? Marketing mindset mindset is number one. Number two is marketing. Number three is momentum is so important and you get have a scorecard. You got to get accountability and all that good stuff.

And in the third or fourth M is mentor. You need a mentor that can remind you of these things. Can that can take a look at where you're at, where you want to go. Find out where you are now, where you want to be and say, All right, here's the gaps. These are the steps you need to take to get from here to there and stop doing this. Stop doing that. Start thinking about this. What about that? We don't see. See what I'm saying. They're asking all kinds of good questions. You need a mentor that can hold you accountable to these things that are important. The mindset who can make sure you're asking yourself the right questions. You're not self-sabotaging. Everything right? The marketing who can remind you, Okay, this marketing is working. This one's not. Stop doing this. Start, start doing that. And then momentum. Like, Hey, OK, show me your scorecard. How many offers have you made in the last month? And then you can start having success? Cool. Real. Simple the forms. And I want to wish you guys the best of success.

We'll see you guys later. Take care. Bye.

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