I’ve talked about this before, but since my recent workshop and talking with coaching clients, I think this needs to be said again. So in this episode, I’m revisiting the concept of the need to dig the well before you’re thirsty.
I’ve always said that lease options are easier than other real estate investing strategies, but I have to quickly add—they do take longer. It takes time to build up momentum. This means that you must constantly be digging the well. (Marketing.) The pipeline must always be full. That way, if you lose a few deals along the way—which you most definitely will—it won’t matter so much because you have all these other leads coming down the pipeline.
If you need cash in a hurry, then lease options would not be your best choice for starting out in real estate investing.
Listen and Enjoy:
- Meaning of the saying, “Dig your well before you're thirsty”
- Why lease options take longer
- The mindset necessary for lease options
- Difference between exclusive and non-exclusive contracts