Question and Answer
Question: I am feeling frustrated because I haven’t done my first deal yet and I’m wondering what I may be doing wrong. Any advice?
Answer: Your statement raises some interesting questions and I will try to address a few of the issues that you may be facing:
1. The number of deals finalized is directly related to the number of offers made. It is not uncommon for successful investors to make 50 offers per week. How many offers are you making?
2. Are you dealing with a motivated seller--someone who needs to sell as opposed to someone who wants to sell?
3. Do you sound confident and business-like when you deal with others? Uncertainty, indecisiveness, and low self-esteem suggest that you lack experience. Practice explaining deals and negotiating with family members and friends until you get the hang of it.
4. Marketing is an important component to the number of successful deals. Are you placing ads that get noticed? Do you pass out your business cards to everyone you meet? Do you have magnetic signs on your vehicle? Are you using bandit signs? All these things help.
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