Epic Real Estate Investing - Where Most Deals Come From | Financial Freedom Friday

Episode Date: February 7, 2014

Got deals? If not, there's a good chance you're overlooking the most fruitful place to find deals. Matt reveals the place where the most successful real estate investors find their deals, and how you can find them there, too.  ----------------- Subscribe to Financial Freedom Fridays on Matt's YouTube channel by visiting EpicREI.tv or... Subscribe to this podcast and access all of Matt's shows at EpicRealEstateInvesting.com Learn more about your ad choices. Visit megaphone.fm/adchoices

It's time for Financial Freedom Friday with Matt Terrio. In a recent survey, when 100 millionaire real estate investors were asked, where do most of your deals come from? You know what? 86% of their total deals, you know where they came from? They came from just four sources. 86%. 7% came from foreclosure listings. 9% came from advertising and marketing.

10% came from walking and driving neighborhoods. But 60% are their. deals came from their networks. And what that conveys is real estate is truly a people business. Not only will every piece of real estate you acquire or sell be from or to another person, 70% of your deals will be referred to you by another person. No doubt about it. This is indeed a people business. And I know that could be a no-brainer for you. You're like, tell me something I don't know. You know, everyone knows this is a people business, right? Well, then again, maybe everyone doesn't. If we did know that, perhaps there would be more effort and investments made in developing

one's people skills for this people business, as opposed to the constant and never-ending pursuit of the easiest way to do this business. That darn silver bullet gets them every time, doesn't it? The got you? Got me a couple times. If there's such thing as a silver bullet, I found it. Real estate investing can be easy, or at the very least, much easier than most people make. If you didn't know already, you're going to want to know that people do business in this particular people business with people that they like, people that they trust, and people that they have confidence in their competence. That being the fact, and if 70% of the most successful real estate investors deals come from

other people, almost certainly the most pressing issue and burning question within your business should be, how do I get more people to like me, trust me, and have confidence in my competence. Well, I'm going to answer that for you, okay? First, to get people to like you, very easy. Just listen more than you speak. Stop talking so much, okay? People like to be listened to, and they like people that listen to them.

Listen more than you speak. Second, to get people to trust you, this is very easy too. Just say what you're going to do and do what you say, and do it for no other reason than you said you're going to do it. Honor your word. People trust people that do. Now, third, to get people to have confidence in your competence, share your success stories with people. Don't keep your success a secret. For example, a story about how you found a solution to a difficult problem, or a story about

a difficult jam that you got out of and everybody involved still got what they wanted. Stories like that, those will typically do the trick. But there are three caveats to a good story. One, keep your story short and sweet. Don't bore people. Two, don't brag. and three, only share your stories when you're asked by another. So when someone asks you, how's it going or what's new or what's up?

That's your cue. Don't answer the same-o-same-all or nothing. Share your successes. You see, these three simple practices, they're going to put you so far ahead of the field. I mean, it's not even funny. It's so far ahead of the field in with regard to that people will want to do business with you. They will want to refer their deals to you. These three things are so simple to do, but they are equally simple, not to.

do and because they are simple not to do most people don't do them it's not that difficult to stand out from the crowd trust me so to access the source where most deals are found the richest most fertile ground where the deals are through people you're going to adopt these three habits one listen more than you speak two say what you're going to do and do what you say and three share your successes got it last tip be patient relationship They take some time to build. You can't really rush that. They take some time, but they don't take that long.

I'm Matt Terrio of Epic Real Estate, and this has been another episode of Financial Freedom Friday. See you next week. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.