Posted by Matt B on January 30, 2001 at 13:25:37:
For future reference, all you need to do is remove the “NOSPAM” from my e-mail address to get it to go to me.
If you’d like some help, I’d be happy to offer it. I’ll e-mail you off the board so that we can discuss it.
What do you need? - Posted by Matt B
Posted by Matt B on January 30, 2001 at 12:38:04:
As I have tried to help a few people get started in doing creative real estate deals, I have been amazed at how fast these people suddenly become “too busy” or whatever and just forget about the whole notion. Now, I know there are a nice wide range of excuses, but I think I’ve figured it out.
Just about everyone WANTS financial freedom, or a new Mercedes, or a new house, or a boat, or a whatever. But extremely few people NEED to achieve that.
I figured this out last night when discussing with someone how quickly I jumped into creative real estate and started doing it full time. I was telling about the time I lost a huge chunk of money that I couldn’t afford to lose on a bad deal that I got involved in. I was also recalling all the times I lost deals or did something wrong to ruin the deal. The thing that I remember was that I NEEDED to make it work. I had committed myself to making my business work. I had quit my safe, secure job so that I could go into business full time. I had a NEED to continue doing deals until I could make them profitable enough to live off of. And I NEEDED to do that fast! Because of this, all these setbacks did not stop me.
As I was discussing how I approach sellers over the phone, I was telling this person that it was extremely important to find out what the seller NEEDS, not what they WANT. Every seller WANTS to sell for full retail value with an all cash transaction. However, they could NEED someone to take over their payments because they are stuck making 2 payments due to a job transfer. It is that NEED that allows us to work deals.
I also recalled watching the movie Three Kings. In the movie, George Clooney’s character asks some men what the most important thing is. After they make a couple of guesses, they are told that the most important thing is NECESSITY. This means that if all the air disappeared from the room that you’re in right now, what would be the most important thing to you? The thing that you NEED-air! NECESSITY=IMPORTANCE
So many people set aside the creative ideas expressed here because they do not NEED to be successful at this. Sure, they need to make money, but heck, they have that nice safe, secure job to provide them with that. There is no need to go chasing after some crazy real estate deal to try to get money, right?
When I worked in sales, the sales trainer told me that in order to inspire myself, I should go take a picture of a car or a house that I really wanted. I was then to hang this up in my house where I could see it, and every time I saw it, I would get motivated to get out there and make more sales. Well, I really WANTED that Dodge Stealth R/T twin turbo, but that didn’t make me get any more sales, oddly enough! However, when I NEEDED gas to put in my car since I was out of money, I got my butt out there and made a sale to get my commission to pay for gas!!!
I think that it is the true NEED to be financially free and succeed at the creative real estate game that allows people to succeed at it. If there is no need, then there are just too many easy way to make excuses for not getting involved in it. It’s incredibly easy to find a seemingly very valid excuse to stay out of it. Hey, I want the magic money fairy to lay down a suitcase full of money on my front porch too, but wanting it ain’t gonna make it happen!
What do you NEED?
Re: What do you need? - Posted by JohnG
Posted by JohnG on January 31, 2001 at 24:01:02:
This is the answer to 90% of the obstacles that stand in our way. I barely had time to log on tonight - I have been working 18 hour days for the last 2-3 weeks closing some great deals and I was intrigued by the question - What do you need ?
The word NEED is so powerful.
I recall three years ago and I lost out on a great deal. Yeah, I know the story - there are lots of great deals out there - another one will come along.
Well, not like this deal. I had been looking for a full year and I was totally invested in looking for this specific deal.
To make a long story even longer, I finally found this deal - I flew 2000 miles to see and put in a bid on this deal and get this - I lost by bidding just slightly less than the winning bid. Out of 27 bids for this great townhouse project - I came in second.
Oh well, good try, you can’t win them all - theres more deals out there. But there wasn’t - not like this deal. This deal was great and I couldn’t stop thinking about this deal and feeling totally depleted and drained because I lost it. As I looked at other deals and tried to move on, all I could do was compare each deal to the one that got away and it began to consume me.
I literally became obsessed with this deal. I thought about the property day and night. It was always on my mind. It began to eat away at me day and night. I had pictures of this property on my wall. I dreamt about this property. I owned it in my mind many times.
Finally, one night at 3 am I woke up with a brain wave. I decided then and there to contact the successful bidder and I would try and buy the deal from him (with a slight profit built in of course).
To make a long story short, I found the successful bidder and I took over his deal. I now have a project that is operating wonderfully and it provides a great positive cash flow each month and the value of the property has increased tremendously.
I now realize that the difference was that I NEEDED THAT PROPERTY and when someone needs something look out - get out of their way. Because there is nothing that will stop a person when the need is absolutely white hot.
That is what is required - today, tonight, tomorrow, next month and next year. You have to need it so badly that you can taste it and then you will do and become exactly what you wish to be. It is truly amazing how the sky opens up for a person who has purpose and direction. The power of “I will until…” is so strong that anything is possible.
Go for it. Define what it is that you NEED - not what you want - not what you would like - but what you really truly NEED to have and you will be more than halfway there.
GREAT POST - Posted by George
Posted by George on January 30, 2001 at 20:30:25:
Many are call, few are chosen…why are few chosen?
Because few are willing to listen and do the things they suppose to do…
Re: What do you need? - Posted by Ted Trunnels
Posted by Ted Trunnels on January 30, 2001 at 13:38:32:
Thanks Matt! You hit it right on the head for me anyway. I started reading on this site over a year ago and even attended last years convention in Atlanta, but have failed to “get out there”. I’ve purchased courses, read books and analyzed myself to death, only to find myself still at that J-O-B. I’ll tell you what, Bartending in a casino is great money, but the drunks are driving me nuts!! That is why I promised myself I would get out of that life. I am a “mister mom” during the day and have let that me my cruch for long enough. Thanks to your post, I know I NEED to get going. Let you know how I do. Thanks again. Ted
Your Email rejects replies - Posted by Michael Murray
Posted by Michael Murray on January 30, 2001 at 13:01:31:
Sorry, I must post this private message on the board. I tried to send a private response to your email account, but it came back because of your NOSPAM feature. Here is the response:
Hello Matt,
I read your WHAT DO YOU NEED? post on CRE Online and noticed that you have helped others get going in Creative RE. Are you still willing to mentor? I have a GREAT need to make this work. I have no job and am behind on all payments several months. I have a stack of possibilities for flips and/or rehabs which I have found by walking through neighborhoods and spotting the junkers. I have sent the first letters to owners, but have no responses yet. If you like to help newbies, how do you go about that?
Thanks,
Michael Murray