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

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

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!

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.

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.

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

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.”

***

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: And Other Secrets to Success, One Relationship at a Time

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/ 

 ***

Remember When…

Do you remember your first real estate transaction? How much did you make on your first deal? Almost everyone I talk with that has been in this business for any length of time knows their profit (or loss), to the penny.

Perhaps you “wholesaled” your property and made 3,5 or 10 grand. Or maybe you did a renovation yourself and made 10 or 20k. Or, did you go the buy and hold route and you still own your first investment property?

Did you jump right into small commercial property? If you are into commercial property, there is a great article this morning in the Wall Street Journal. What I found most interesting was the graph inside the article showing the number of the transactions through the last few years. You can see for yourself that 2009 was a really, really, challenging year to be involved in commercial real estate.

You can find the article at http://online.wsj.com/article/SB10001424052970204652904577196822083979222.html

Whether your prefer residential or commercial, tonight at WREIA we are going to be intensely focused on properties in the DC metro area. If you have been struggling to get started and do your first deal in Washington, you will find tonight helpful. On the other hand, if you “sense” that you should be growing your business during this correction, we are going to shed some light on what might be the root cause of your problems.

Oh, and I hope you are not disappointed. There is nothing to buy tonight. We are simply going to show you some trends that are happening on the front lines of this business. Then we will share some insight on where other businesses are focused going forward into 2013.

***
Meet Us Tonight At The May WREIA Meeting
Getting Started or Restarted In 2012
5 Major Challenges Influencing Today’s Market That Didn’t Exist in 2005

Doors will open at 6:30 for refreshments and networking.
Small group discussions will begin at 6:45.
***

Times have changed – pretty dramatically – since 2005. There are many new challenges that you face in 2012.

The commercial property article mentioned above is about flexibility. I hope you aren’t stuck running your business like you did in 2005. Today is intensely competitive and more about moving quickly and making good quick decisions – then implementing your plan.

Plan to join us in Bethesda tonight. We are working hard to give you the skills, tools, and access to the people you need to avoid mistakes and be successful.

How can I help you?

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

P.S. I posted more details about tonight on our Profitable Property Channel at http://www.youtube.com/ProfitableProperty

P.P.S Yes, we are still lending on great deals. If you need a finance partner in the Washington DC area, we 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 tonight’s WREIA meeting online, save $5, and skip the registration line!

You will also find the registration link at http://wreia-may2012-wreia.eventbrite.com