Investor Travel Diary - First Day

Investor Journey Diary - First Day

Investor Travel Diary - First Day

 

Journey summary
A week after I returned to Israel, there are quite a few insights.
Before I start, I wanted to thank everyone who posted about the posts! The truth is, I listed them first for me.
It helped me to summarize every day and stop for a moment and think about what I did today and what I learned. If on the way go out to share and teach others then the best!

Now for the summary - bottom line, it was a great ride for me. I think the very fact that I traveled allowed me to see things in a much more objective way.
Understand things better and more correctly. Beyond that, the trip has positioned me somewhere else where I have been.
If before the trip I was another passive investor, today I am an active investor. I feel that way and I'm sure others see me that way now too.

Now look, my trip was mainly focused on meetings. By the way, up to a week before the trip, I was upset that I didn't have enough appointments and that I would be spending my time there ...
I think the meetings were important and in retrospect I would not give up on any meeting. However I think I have not seen enough assets and not enough to go around.
Next time, I'll come ready with assets I want to see and areas I want to explore and I'll just drive there.
Another thing I was missing, but if it didn't have much to do, I didn't come up with a budget to make a deal during or shortly after.
While this is not mandatory but in my opinion it is very important as it is a serious statement of intent and it also causes you to focus a lot.

In the end, I think this trip was another stage. Sort of something that had to be done. But the real work is now. And it is divided into two:
1. I came back with peak motivation and expected that everything would run in the missile but in practice, not all of your team you met and formed a good relationship with, run with you at the same pace.
This week I find myself waiting for answers, tests, COMPS and more. And it's not because they don't want to cooperate with me, but because, from their point of view, everything is routine, it's just me who is motivated now.
2. Close a deal, and relatively quickly. To prove to your teams that you didn't come to play.

Insights:
1. Duration of the trip - I had 4 net days. Obviously that was not enough and I was missing at least another two days. But for those who have limited time it is definitely possible and important.
You have a week you can take (4 days), go! Don't wait for the ride with the thought that sometime in the future you will have more than that.
2. Follow-up - It is very important to follow up on the relationship with the team. Starting with a thank you email after the meeting, an email back to the country that summarizes some insights and thoughts and ways of collaborating….
3. Close a deal - There is a kind of time window like this, which I still do not know how to delimit in time, where it is very important to close a deal (in my opinion at least).
This does not mean that you have to be reckless, but it does mean that you have to be creative.
For example, I am currently trying to find a deal with financing and come essentially without any equity at all just to move forward.
I even shared my broker with it today. I told her it was very important to me that we both succeed,
And as far as I'm concerned, it's been a long time since we've talked and it's time to close some kind of deal so start sending me potential deals after she "brews" me with all the data already ...
4. Share people - After the first trip, take advantage of the momentum and motivation and share people in your experiences.
This has great potential for your collaboration and pushing forward. After all, there's no better time to market something when you're motivated about it.
5. Proportions - After the enthusiasm, comes a return to reality. The reality where deals do not fall from the sky.
The reality is that you're looking at another deal and another deal and the numbers just don't work out.
The reality in which to invest has to make money (or any other creative way). Take it all in proportion that this is life and with it it must win!
6. Enjoy the trip - Take advantage of the trip for quality time with yourself. This is a great time to do some mental arithmetic, breathe a little, think about where to go next, plan goals (and not just in real estate).
So enjoy that this will give you a sea of ​​power to move on!

So I'll see you on the next journey, huh ?!

Good luck to everyone! I was glad to have you on the trip with me!

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