Tonight At The June WREIA Meeting….

Why should you join us tonight at WREIA?

“Networking is the energy that turns the wheel of commerce.”  You will hear that tonight at Washington Real Estate Investors Association Network.

Commerce means that transactions are taking place.  People are doing business, and creating a profit.  And in my opinion, profit is good.  I buy, renovate and sell homes across the DC area.  I also help other people learn the same process.  When our homes are renovated, the buyers move into a safe place to live, the neighborhood has improved, and the professionals who performed the renovation work can make a good living too.  Everyone involved received something of value.

Before a profit was made, there was a “sale.”  A transaction took place, right?  But what happened before the sale?  Maybe you discovered the product or service from a referral from a friend, or an ad in a newspaper, or a commercial on TV.  So, before the sale, marketing or advertising took place.

But today, Fortune 500 companies are nervous because of the lack of response they are getting on their big budget TV, radio and print advertising.   These big companies are searching for ways to connect with their customers.

Networking is marketing.  Marketing creates the “sale”. So you have a chance like never before to get ahead of the big companies and capture the “sale”.  But this process is only successful if you know what you are doing, and can meet new people efficiently and effectively.

To be an effective networker today, you have to know how to target and attend the right events, but you should also realize the just living life can be the right event.

Remember – success happens when preparation meets opportunity.  If you are not prepared to meet new people and grow your business, it is unlikely to happen.

Join us tonight and let me know how I can help you,

John Peterson

301-881-5541
Washington REIA Network, President
Profitable Property, Founder

***Register now for the June WREIA meeting online, save $5, and skip the registration line!

You will also find the registration link at  http://wreia-june2012-wreia.eventbrite.com

College Park Renovation | June WREIA Events | Book Club

We have a renovation going on right now in College Park, not too far from the University of Maryland campus. You may have seen the unfinished basement in one of our last videos posted here.

In the background, you can see the property is literally how it looked the morning we began the demo and renovation process.  There were many items to be taken out of the house.

Just a few weeks later, that same property is almost finished.  In the updated video below, we are again shooting the video from the basement, because upstairs there is a flurry of activity.  A few of the professional painters actually make a background appearance in the video.

I am showing you the video for two reasons.  One, I want you to see that we really do find, fix, and flip properties for a living.  Two, this is the busy season for renovators, and I want you help you be busy too.

This doesn’t make sense to most new investors.  Why would I want to have you start “competing” with me to find properties?  The reality is, here in the DC area, there is way too much for any one team to do alone.

Many of my deals over the years have involved “partners” of one sort or another.  Sometimes, I buy a property from a wholesaler.  Occasionally I team up and joint venture on a property.  And the rest of the projects we do, we find in house, from our own marketing efforts.

All of these property types  have one thing in common.  Network.

After 18 years, I have a broad network of contacts, and many people I can reach out to when I need help.

I hope you join us this coming Monday at our June WREIA Network meeting.  Our topic will be “Power Networking for the Real Estate Investor.”

This is an overlooked part of the business for most investors.  Over the past few years, if things have slowed down for you,  you have had an opportunity to sharpen your skills.  Networking, in my opinion, should be at the top of your list of items to focus on – every day.

If you work on developing a strong network of contacts who trust you, like you, and want to do business with you, it guarantees one thing.

Success.

Join us at WREIA this month.

You can register at http://wreia-june2012-wreia.eventbrite.com

Once you are finished Monday night, we showed you 8 opportunites to implement what you learn at the WREIA meeting.  Than Merrill and the Fortune Builders team is in the DC area over the next few weeks.  These free preview classes provide a great chance for you to meet and mingle with other people who have a similar interest in real estate investing.   We posted the dates and times for these classes at http://www.dcprivateinvestor.com/2012/06/12/merrills-fortune-builders-washington-dc-area/

Join us Monday Night at WREIA, and start networking your way to Success!

8 Opportunities to Mix and Mingle

Next Monday at Washington REIA Network we will give you all the tips you need to be successful networking as a real estate investor.  More importantly, these soft skills will translate into any other business as well.

But, for the moment – let’s focus on real estate investors.  Most of us were drawn to this business so we could scratch our entrepreneurial itch.  We wanted a business that depended on us working hard, but allowed us to have a more flexible life.  The problem is, once you cut ties to the corporate world and end your “job” –  you lose a lot of opportunity to meet with people “at work” on a consistent basis.

For most people the first day as a full time real estate investor is fantastic and frightening at the same time.  You wake up without an alarm clock, take your time to read the paper or catch up on news, but pretty soon you realize you need to get busy.  So you fire up some emails, check some listings, do some research etc.

Pretty soon you realize it’s 2PM and you haven’t talked to a single person.

Becoming a real estate investor today is hard work.  But it isn’t limited to just real estate investing.  Becoming a surgeon requires hard work and years of training.  Becoming a nurse requires training, as does a school teacher.  If you want to make $72,000 or more as an occupational therapist, you better be prepared to go through a few years of school and training.

What do all these careers have in common?  Hard work.

The only difference is, most people think that flipping houses is easy.  Buy a house, paint some walls, sell the house and make $100k. Sounds simple, right?  Day one in this business will tell you it’s definitely not that simple.

Now more than ever I see deals getting done behind the scenes. For years, this wholesale market has been active.  Nothing is illegal about wholesaling, but these transactions are not publicly displayed on the MLS.

Experienced investors know that if we want to sell a property to the retail market – then we list it and broadcast the details to the MLS.  If it’s priced well, it will sell.  We pointed out that a properly priced home will sell quickly – even in Cleveland. If you missed it, the article is posted at http://www.dcprivateinvestor.com/2012/06/07/sold-day/

Now, let’s go back to day one as an investor.  It’s 2pm and you realize you haven’t talked to a single person.  What you quickly realize is that all that online training and webinar watching will only get you so far.  Eventually, you have to talk to other people and get some business done.

If you have found that all that time behind a computer has left you a little awkward in a social situation – join us on Monday night at WREIA.  Our speaker is going to give you the “10 Commandments of Networking” for 2012.  Think of Monday night as a guide for the the new etiquette of meeting and growing a network of professional business people.

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Meet Us June 18th At The June WREIA Meeting

“Power Networking As A Real Estate Investor”
Doors will open at 6:30 for refreshments and networking.
Small group discussions will begin at 6:45.  

***

So, Monday night ends and you are ready to start meeting new people – now what?  Let me give you eight other opportunities to meet other investors around the Metro DC area. None of these events will cost you a dime.

Than Merrill, the TV star from Flip This House has a company called Fortune Builders.  The Fortune Builders team is in the Washington DC area over the next couple of weeks and will be giving free presentations and introducing people to their training.

We have all been to these types of events.  2 or 3 hours, lots of good info, and then a pitch to attend another round of training for a fee.  Nobody twists your arm, but if you want to go on and learn more about the topic the opportunity is there.

Now, I have had dinner with Than, JD and other guys that are part of the Fortune Builders team.  These are good guys, and they truly want you to succeed.  The Fortune Builders training is excellent, and they back it up with experience of their own.  They are actually out in the real world buying and selling properties just like us.

People from all levels of experience attend these free classes – and let me tell you – they are terrific opportunities to meet new people who have a shared common interest.

They have different times and dates and the events are scattered all over the DC area from Arlington to Herndon to Greenbelt and Bethesda.

We posted the times and locations at http://www.dcprivateinvestor.com/2012/06/12/merrills-fortune-builders-washington-dc-area/

If you just want to sign up to attend, click here or visit http://www.dcinvesting.com/fortunebuilders/

It is soooooo important to continue to meet new people in our business.  I cannot emphasize that point strongly enough.

I hope you are participating in our Two Week Challenge and meeting your three new people.  Will you let me know how it is going?  Drop me an email or give me a call.

 If you haven’t heard about our Two Week Challenge,
read about it here.
So here it is – easy instructions on growing your network this year, and 8 opportunities to practice your craft in real life.
  1. Learn Power Networking at WREIA on Monday night.
  2. Join other investors around the DC area over the next two weeks.
  3. Rinse and Repeat

Let me know how I can help you,

John Peterson

301-881-5541
Washington REIA Network, President
Profitable Property, FounderP.S Yes, we are still lending on great deals.  If you need a finance partner in the Washington DC area, we do have capital available.  You can request a funding letter or share details on your property at http://dchardmoneylender.com/quick-property-submit/ 

Two Week Challenge For Real Estate Investors

Remember When…

This is the time of year when we all get a ton of graduation party invitations. It might be graduation from kindergarten, elementary or high school, college or a trade school.The invitation that stuck out to me this year was for a friends son who was graduating from law school.  Quite frankly, I was impressed.  His son never struck me as a real go-getter. When I called to congratulate the father, I asked what the young man’s plans were now.  The answer – “Well, it’s a bit of a soft job market, but he has a few good interviews. I’m sure something will pan out.”
AMAZING!!  This young man had 19 years of school and he doesn’t know where he is headed?

Anyway, all the graduation celebrating brings back fond memories for me.

But let’s start at the beginning – Do you remember your FIRST day of school?

For most of us, it was exciting, or maybe even a little scary.  When we first arrived at school, we learned the “rules”.  Raise your hand, no talking or laughing, and no pushing or pulling hair. And when the class has to go to lunch or recess, we all have to stand in a straight line and follow the person in front of you.   I never did very well at that straight line rule.  Today, when I drive around looking at properties near a school, I see that some brilliant teacher discovered  the trick is to get all the kids to hold onto a rope. It might not be a straight line, but at least the kids aren’t wandering off anymore.

Eventually, graduation arrives and we launch off into the real world, and realize that some of the rules don’t apply anymore.  If you have a question about setting up your utilities, raising your hand alone in your first apartment will do you absolutely no good.  You can finally talk and laugh all you want, but there is still no pushing, even in a game of pick-up basketball.

The rules are different when you grow up, and making friends and networking is a necessity.  I’m not talking about making friends on Facebook.   I’m talking about people you can call when you have a question, and need some help.  I’m talking about REAL help.  Friends that can help when “My deal is about to fall apart if I don’t find an inspector in the next 48 hours, because if it does – I might lose my 30 grand in profit.”  Those helpful “friends” are especially hard to find online if all your Facebook “friends” are just interested in sharing funny cat videos.

Don’t get me wrong,  Facebook is a great tool you can use in your business.  On the Profitable Property Facebook page, we have a good group of people who often find and contact us when they need some help.  In fact, last month we shared the entire Power Point presentation from the May WREIA meeting.  The presentation is still posted at https://www.facebook.com/ProfitableProperty

HOWEVER, if you never leave the online world, and venture out to meet new “live” people – your business will die a slow, painful death.

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Meet Us June 18th At The June WREIA Meeting
“Power Networking As A Real Estate Investor”
Doors will open at 6:30 for refreshments and networking.
Small group discussions will begin at 6:45.  
***

The business rules today are very different from the strict rules you learned in elementary school.  Luckily, there are people who will share the new rules and how you can succeed by using them.  Until recently, I had never heard of the Johari Window. It’s mentioned on page 152 of the current WREIA book club book – Never Eat Alone, by Keith Ferrazzi.

Never Eat Alone

In fact, Keith writes that early in his career, one of his mentors brought the Johari Window concept to his attention.  Today, because of that simple moment of sharing, he says “…I’m forever grateful.”

That’s how it works – one person making just one comment can change your career – forever.  These days you will easily find people online, but make it a point to actually meet the people you find interesting or who you find yourself starting to trust about business.

So this month, let’s learn something new AND update your skill set.

Ready?  Let’s go……

Here is my personal two week challenge for you: 

Make at least 3 new connections over the next two weeks.

There are two simple rulesI want you to follow.

  1. These new connections cannot be online.  I want these new contacts to be people you meet in the real world. Over the phone, in person, or at an event.  Maybe it’s at a closing, or calling on a listing.
  2. I want you to talk with them for a minimum of three minutes.  Not just standing in line, and casually saying “hi” but actually engaging someone in a good short conversation.

BONUS *** You get bonus points if in those three short minutes you mention that you are a real estate investor looking for your next property.

Some of you are going to be shocked at the outcome.  Out here in the real world, conversations with real people lead to real money. Most of my so-called “competition” is on Facebook looking at cat videos hoping that something will “pan out”.

That is your challenge.  You have two weeks to have a three minute conversation with at least three new people.

It’s time for you to graduate. Make it a point to update your skills and start playing by the rules of business that exist today.

Now get going!!

If you unearth a deal and need some help, call or email and let me know.

John Peterson

301-881-5541
Washington REIA Network, President
Profitable Property, Founder
P.S Yes, we are still lending on great deals.  If you need a finance partner in the Washington DC area, we do have capital available.  You can request a funding letter or share details on your property at http://dchardmoneylender.com/quick-property-submit/ 

 ***

Register now for the June WREIA meeting online, save $5, and skip the registration line!
You will also find the registration link at  http://wreia-june2012-wreia.eventbrite.com