How to Pay Attention to Your Intuition in 2019
Have you felt like this before? You want a deal so bad you can taste it. I know the feeling.
When that voice in your head and that feeling in your gut talks to you – you better listen.
Your success in the real estate investment business depends on your knowledge, experience, who you know, how well you can build and sustain relationships.
It also comes down to this one BIG thing…
When your intuition kicks in, you need to pay attention. Following your intuition isn’t always easy. We keep your eye on the prize. Most of us will stop at nothing (within legal and ethical limits, of course) to close a deal.
That voice of reason is there to serve a purpose. The ability to listen to that voice is what separates the rookie investors from the professionals.
Following your intuition is about getting out of your head, which isn’t easy if you’re a thinking-focused person. I’m not hating on the thinkers, but understanding people and ultimately closing deals is oftentimes about feeling your way through a deal.
Pay attention to what and how you feel as you navigate through your deals. Your mind will tell you a deal looks good, but your body may say something different.
Let Your Gut Be Your Guide:
When you ignore that inner voice, you get screwed. It’s that simple.
Once upon a time, I ignored that voice in my head. I wasted precious time and valuable resources.
Long story short…
I bought a house at auction, and the owners were still in the property. I politely and professionally explained that they needed to move. I disclosed to the sellers what I was planning to sell the property for, and in turn, they told me and my partner about an “investor friend” who might be interested in buying the property.
Naturally, we were intrigued. We brought in a contractor to check out the property, and we were stoked because we were about to make a nice chunk of change on this flip.
Then we discovered that the “investor friend” term wasn’t even close to our terms.
That’s the moment I should have listened to my gut.
Two big red flags:
The buyer wanted a 30-day close
The buyer didn’t want to put down any earnest money
I called the buyer and said we need to use our title company, close within 7-10 business days and he needs to put $2,500 earnest money. It was like talking to a brick wall. We got nowhere.
I even had my business partner call him and the buyer still wouldn’t budge but kept reassuring us that he wanted to do the deal.
My inner voice had already been growling at me – but at this point, it was pretty much screaming at me. I should have walked away from this guy.
With this ‘investor,’ it was his way or the highway. So against our better judgement – and my gut – we signed the deal. We agreed to his terms.
About 10 days later, our title officer let us know that she couldn’t get ahold of the buyer. So, we blocked our number and called him. After we got a hold of the buyer, he told us things had fallen apart with him and the old owners.
I told my buyer that his deal with the old owners had nothing to do with my deal with him – to which he said if he didn’t have a deal with the owners, he wasn’t doing the deal with me.
The deal was off – but because we agreed to his terms, we had to ride out his 30-day close waiting period and wait for his contract to expire. Only then could we re-market the property in hopes of wholesaling it to a real investor.
Maintain the Power Position:
Only one person should be in control of your deals!
Listen to that inner voice, follow your gut instinct and pull the ripcord if a deal doesn’t feel right.
-Never accept a contract without earnest money
-Always use your contracts
-Don’t let others dictate the terms of your deal
-Stay in control to close the deal
Take care, comb your hair!
PS: Check out my YouTube channel for more great training!
PPS: Before I let you go, I wanted to give you my eBook! Download it here!