Friday, April 2, 2010

Taking Action

I am consistently impressed by the speed with which serious investors recognize a good opportunity and jump on a deal. Obviously, with more experience, it gets easier to recognize a good deal. But there is more to it than that. The savvy investor is compelled to take action while others sit on the sidelines and wait.

Whenever I post a lead on our local investor message board that I know to be a good value, I will very rapidly hear from some of the top names in our local investor community. Often, I will hear ONLY from a handful of the top investors on a hot deal. Why? Where are the hundreds of other wannabee investors that were given the same information, and the same amount of time to respond?

The early bird gets the worm, and the most successful investors are people of action. First, they have a very clear picture of what they want. When something meets their criteria they are poised to strike. Less successful investors do not have a clear idea of what they seek, and therefore fail to recognize an opportunity upon which the savvy investors spring.

Savvy investors know that leads may turn into transactions, and that a good lead is worth pursuing. Savvy investors are willing to pay for warm leads, as they know this is more cost-effective than pursuing cold leads.

Savvy investors ask for what they want. Today I met with a brand new investor, a brand new member of our local real estate association. He contacted me, and asked for help. He was busy educating himself, and in addition to joining the local real estate investment association, he had invested in one real estate system, and was busy reading everything he could on the topic of real estate investing. Along the way, he came across my monthly articles in the association newsletter, and then started reading these blogs. Then he did something that very few other people have the courage to do:

He picked up the phone, and dialed my number. And asked if I was still willing to take on an apprentice.

Action. He took it. And that gesture alone assures me that he is one who will succeed.

Get off the sidelines and into the game. The spoils go to he or she willing to take action....

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