A lot of new real estate investors tend to get distracted with the “shiny object syndrome” – the thought that they need to continually recreate the wheel or try something new before they’ve mastered the foundational skills. Many new investors fail to realize that the majority of building a successful real estate career relies on their ability to continually repeat the simple, yet powerful fundamental process that enabled them to achieve success with their first deal.
On today’s episode, Don and Ryan explain why it’s critical to follow the “Rinse and Repeat” model of building your real estate business. They discuss the importance of finding the right people to add to your team, evaluating and reverse engineering the process you used to successfully close your first deal, and the importance of finding constants and removing barriers as you continue to build your real estate empire. They also share stories of how they’ve worked through various unexpected title issues throughout their career and tips for new investors trying to navigate their way through issues with property titles.
“The process is never going to change.” – Ryan Scialabba
This Week on FlipTalk’s Rookie Play Book:
- The importance of evaluating your process as a whole.
- The four core parts of running a successful real estate business.
- Removing barriers and finding constants.
- The importance of picking your title attorney.
- The importance of identifying the end result you want to achieve when building systems and processes in your business.
- Reverse engineering your processes to remove variables.
- Digging deeper into the markets you want to explore.
- Working through title issues and the importance of asking questions and being curious through these issues.
- The importance of auditing your time.
- Don’t fall prey to “shiny object syndrome.” Rinse and repeat the foundational process.
- Realize that deals blow up multiple times during the closing process. Don’t freak out.
- Understand that who is on your team truly matters. Put problem-solvers on your team.
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