# Entrepreneur this week how to leave work and live in the US real estate in less than 3 years (post) station…
How to leave the job and live in the US real estate in less than 3 years
(Post) Station 4: Leave you from the US -> The market is too hot and there are no deals in the market!
So many times have I heard this phrase recently that the market is too hot and there are no market deals.
And you know what? Whoever says that, I tell him he's right. The market is too hot for him and will simply retire now because it probably isn't for him since he prefers to cry instead of sweating.
The reason I say this with such confidence is because I and my students find deals in the market and off the market even though the market is too hot… and yes we are sweating but working according to a method that I will share with you soon.
But before that I want to talk to you about the mindset that needs to be in place to produce the first, second, third… fourth and even the 200th deal.
1. There is no such thing as possible. When they say it is impossible I go and show that it is possible
2. I control my fears. We all have fears all the time and I just put them aside.
3. I work full force toward achieving my goals
4. I'm connected to why I'm doing it
5. I imagine where I want to go
6. I write my goals and it is written in front of my eyes
7. I am confident in the method I am working on and I know it works and so I am persistent and patient
8. I am constantly improving the method to be relevant to the situation and to achieve better results
Now want to hear about the method?
No ha… Obviously not…
So first of all I want to share with you how I used to find deals and how at some point I learned something that changed all the rules of the game and managed to generate high revenue that allowed me to live the way I wanted. And when you embed, you can make deals that generate enough income to replace your salary.
So after selecting an area, mapping where I want to focus, I built the initial team:
Prince agent, contractor, inspector, management company, title company, insurance company, attorney and the like.
I started to look at properties in Market and Market and when there was something that looked like potential I would look into some refurbishment and some value to buy and submit a bid.
So far, isn't there something wrong? Right?
So what I did was that every day I would go through famous properties and look for ones that would fit in, call on other investors, hollers, directly to sellers and the like.
So far, everything seems to be fine.
What is the problem? I never knew when my offer would be accepted so every day I would do what I do and not know if there will be a result.
And every day I failed to make a deal, I prayed to the God of Transactions to send me some deal already.
And sometimes he heard me and it did happen…. And after that again… submits and submits and submits and does not know when the deal will arrive… Then I started spending more hours every day making connections and examining deals… I was in full gas…. And all the time I felt like there was a sea of cards on the table and every time I turn over a card and hope that there is an ace behind it.
So what was wrong? What if I were a beginner now, I would have done otherwise that would have allowed me to produce the first deal faster and more transactions with a higher certainty.
So what I realized after some time I even need to look at it as a business and not as creating one deal and chasing the next deal…
1. I need to have goals for how much money I want to make this year
2. Some deals I need to produce this financial target this year
3. Some suggestions I need to submit this year to generate the amount of deals
4. Some properties I need to look at this year to generate the amount of offers
5. For some sources, I need to turn to produce the amount of assets for the exam
And so forth.
6. What staff members do I need to execute all this
Now if I want to produce 2 this year?
I just need to multiply the whole matrix.
And think about it… Is this also true for the first deal?
Of course it is.
When I started locating the first multifamily deal, besides building the team
I built the matrices with a target for examining 100 properties (the full metric is currently compiled)
And after 72 Properties the first offer was accepted. It just worked.
Now I want to add something more to you….
Wait… If it's a business then should the business depend on only one strategy?
of course not. Every business needs to have a number of revenue generating products.
And so it is with real estate…. As a business you need to have more than one strategy that generates income for two reasons:
1. Your income does not depend on one strategy
2. You also look at properties this way, so one property can fit into one strategy and sometimes the other.
Well I can talk about this for a few more hours and it seems to me that if I continue then I will also start explaining about CrossProfit that it is an income combination between strategies but then Facebook seems to let me know that the post is too long and I have broken the abandonment index for post 1.
So…
Si Yu Tomero?
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Hi Raffy, thanks for the fascinating posts.
Can you refine how you actually propose to replace salary income with real estate income? Because if you buy a home with financing, at the end of the month you are left with $ 200- $ 300 in hand and even if you have a portfolio of ten properties, it's still only $ 3000 a month - and with that you do not go to the grocery store… (not to mention the down payment we invested to purchase the properties). No matter how I turn it around, it is only possible to exchange work for a rental cash after the mortgage has been paid - and it takes time…
what am I missing?