The Snowball Effect
This business is not a get rich quick operation…most of the time. There are a few stories where one of my students makes the right call at the right time and makes $50,000 on their first wholesale deal in 2 weeks, but it’s extremely rare. For the rest of us (including me) it takes time, and that’s what I want to talk about in this blog.
Something I like to call: The Snowball Effect
For the majority of us, whether we’re looking to wholesale a single family home, acquire a rental, or do a rehab, it might take 1-6 months before that first deal gets done. Now this can be hard to push through when you’re 3 months in without a deal but I will encourage you…DO NOT STOP. In this business it’s not a matter of if but a matter of when. If you do the right lead generation techniques we teach you at Clever Investor, make the follow up calls, and meet the sellers then a deal WILL happen. And it will feel so good!
Now once you get that first deal done something miraculous typically happens…the second deal happens J But it doesn’t take as long as the first one. Let’s stick with 3 month from before and assume it took that long to close our first deal, well the second one might take 2 months, and the third one 1.5 months, and before you know it you’re closing 1 deal a month which turns into 2 which turns into 3…you get the point.
Now there are a few reasons for this.
- Your skills improve
- The way you navigate through that first phone call, how you position the first offer, how you close when you meet them in person. All of these things get sharper and refined the more you do which leads to more closed deals.
- Your pipeline stays full
- As long as your constantly marketing and using the ways we teach then your pipeline or “potential deals” will increase which automatically leads to more opportunities to close deals.
- Now I don’t mean you start drinking 3 Redbulls in the morning because you’re tired from closing so many deals J What I mean is that I truly believe whatever energy we put out we will get back. If I doubt everyday that a deal will happen or I hope the person on the other line won’t answer…then they won’t, and I won’t close deals. But if I believe and put out the energy that today is going to be my day and a deal is going to happen, then things just start working without explanation.