Dean Jackson, an entrepreneur, marketing genius and real estate investor gives his advice on succeeding in the real estate business and life.
Goal: To Obtain a Listing Agent Lifestyle
Lifestyle elements: daily joy, abundant time, and financial peace.
If you’re not joyful it usually means you are rushed and don’t have time, when you don’t have time it usually means you are overworking because there isn’t enough money.
The solution: make more money in a way that takes less time which will in turn bring more joy.
How would you look for distressed properties to purchase?
First you must identify people wanting to sell. Most people are curious about the value of their home. So offering a free home evaluation or market report can get you the attention of a lot of prospective sellers. Out of those sellers there will a certain percentage that are in distress or need to get out from under their mortgage quickly.
Now as a real estate investor I could keep the leads I want to pursue but sell on the other leads to a real estate agent.
Questions Sellers Are Interested In?
- What is my house worth?
- What is the average sale in my neighborhood?
- How much sales activity is going on in my neighborhood?
- Can I sell my house without the hassle of putting it on the market?
The common formula for real estate investing is:
- Determine the fair market value.
- Subtract repair costs.
- Determine the profit you desire.
Most properties should be acquired at 50% to 70% of the homes fair market value.
Large venture real estate firms like Opendoor will buy your house for approximately 90% of the market value. It is largely all done online. You fill out a form send in some pictures, they keep a fee and they buy your house.
Meeting a defined goal is how you determine you are successful.
Dean defines success as:
- Free time – when I am in complete control of my time and can do whatever I want
- When passive revenue exceeds lifestyle needs
- Working on projects that excite me
Not knowing is scary, especially when it’s your money on the line. Learn how to recognize success. #Ironclad
- 1Success can be measured by the joy in your life and the amount of your free time.
- 2Real estate success depends on marketing to people and meeting their need.
- 3Working less and making more is a key ingredient to a happy life.
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