This post is part 5 of 6 detailing what my partner and I went over during our annual meeting this year. The point of this meeting was to come up with a plan that will create a more consistent and profitable business for 2013.
The items we covered in our meeting are listed below. To view prior posts related to this series click on the link for that topic.
- Sweet Spot Areas
- Sweat Equity
- Mail Campaigns
- SI Lead Manager
One of the major things that I’ve been neglecting over the past two years is education. I haven’t been to many Real Estate Investing Meetings or read anything new for either. It’s not because I didn’t want to, it’s just that I have had such limited time and had to choose my tasks wisely. I made a concentrated decision to only spend my time on money making tasks, and for me, Education was not one of them. Money making tasks are those activities that directly affect how much money you make. Education will help you make money, but it is more of in an indirectly fashion.
This year I want to get back into the learning game and build my knowledge more in certain areas that I find to be most important for my real estate investing. Marketing and Negotiating. Along with those two, I want to also learn more about Lease Options since it could give me more options when wholesaling a house.
Marketing. This is going to be geared more towards internet marketing then direct mail. Although my education with direct mail will be by experimenting with letters, wording, frequency and envelope styles. I am going to implement a split testing procedure to help me better understand what works and what doesn’t.
As for Internet Marketing I know what to do for the most part, or I did a couple of years ago but I’m sure the landscape has changed a little bit. That being the case I’m looking for a course that I could get that is geared towards real estate investing, so if anyone has any recommendations that would be great.
Negotiating. Next to Marketing, Negotiating has got to be the next most important part of any investor’s business. Being able to talk with sellers and negotiate a profitable deal is paramount for consistent success. I’m weak in this for sure because I don’t handle that part of my partner and I’s (is that correct grammer??) business, he does. Roger Dawson has a great course that I’m going to get about Negotiating. Hopefully it has an audio so I can listen to it in my car.
Lease Options. This is something extra that I want to learn this year. My coach shared with me some videos that I’m not sure who created them since I haven’t listened to them yet, but he highly recommends the videos. So I will watch them and learn.
My last post in the “Meeting Minutes” series will be on SI Lead Manager and it comes at a perfect time because I am about to start my own live testing of beta 6 next week. I’ll have some good video previews of the software that I am excited to use!
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I make it a point to read Blogs/Forums for at least an hour every day to see what I can learn. I also am back to attending my REIA so that I can increase my network and my educational options. Of course have you read: Dale Carnegie’s How to win friends and influence people? It may not be about negotiations but it is there to find out how to talk to people.