Why You Don’t Need Cash, Credit, or Partners to Buy Houses or Invest in Real Estate!
Today I just want to inform many of you out there, and recap for many others, why you don’t need cash, credit or even partners to buy houses or invest in real estate!
Even though I preach this message all the time, you can’t hear it enough. There’s something called “The Rule of 7” that says that many times people need to hear something 7 times before making a decision to take action. In the age of Social Media, I’ve heard that the number may be as high as 21! 😲
🟣 So instead of cash and credit, we’re going to substitute four (4) things…
👉 1. Education (Specialized Knowledge)
👉 2. Documentation (Properly written legal documents)
👉 3. Repetition (to produce Skill and Mastery)
👉 4. and finally, Implementation (Action). You can “learn” all of this great stuff that I’m teaching you… but if you don’t take action, it’s not going to make you any money!
✅ 1. Education
So, first of all, you’ve got to have specialized knowledge. As I’ve said before, having specialized knowledge on how to buy houses without money is like creating cash out of thin air. It’s like knowing the secret to a magic trick. You have obviously got to have different knowledge than everybody else has, because you’ve got to do things differently than everybody else.
✅ 2. Documentation
In addition to knowledge, obviously you need documentation. Real estate deals are legally binding transactions. So, you’ve got to have the right paperwork to tie the deals up, and to execute your deals in order to make money.
Buying houses without cash or credit is really about shuffling papers – but you’ve got to shuffle the right papers, and you’ve got to know how to shuffle them, at the right times.
That’s where the knowledge comes in: knowing “how” to shuffle them 😉.
So, you’ve got to have the right documentation, but you’ve got to make sure that you get the documentation from a good source, right?
Many people think, “Well, I can just go to my attorney and get the documents I need.” Right? Wrong! In most cases, the attorney you find will be clueless!
Well, first of all, your attorney probably doesn’t believe that it’s “even possible” to buy houses without cash or credit.
Even if they “did” believe that it was “possible”, they don’t probably don’t buy, sell, and rent houses for a living, and you STILL have to pay them by the hour… to try to figure it out, and throw something together for you… whether their documents are any good or not! 😉
See the problem? 😉 So if you can’t get the right documentation from attorneys, then where are you going to get documentation instead?
The best source for documentation is from a real-life real estate transaction engineer, like myself. It doesn’t have to be my documentation – it should be, but it doesn’t have to be 😉 Lol.
The point is, you want to get your documentation from somebody who buys, sells, and rents houses for a living and knows the business inside and out.
Attorneys can get away with giving you “any kind” of documentation, because they get paid by the hour. So, you’ve got to pay them whether their documents are good or not.
They may not work for you and they might not stand up in court. Now, whatever documentation you get, obviously it’s a good idea to have an attorney review it.
But the bottom line is, you want to get good documentation.
✅ 3. Repetition
The third thing you need is Skill, and more specifically: Mastery.
I really struggled with his 3rd item because I wanted a more exact rhyme, ending in “-ation”, like “Preparation”. But I REALLY want to drive home the point of rehearsing over and over again, so I settled on the world “Repetition”.
In the words of Tony Robbins, “Repetition is the Mother of Skill”.
I want you to understand that to achieve greatness in anything, preparation is too general. What we want to achieve greatness is: Mastery!
So, once you get the specialized knowledge and the documentation, then you need get your skills up by repeatedly studying and rehearsing these things privately at home.
You need to practice the things you’re going to say to the seller before you actually go into the field.
You need to know this stuff backward and forward so that when you’re out talking to sellers, you’re not sounding like a beginner, you’re sounding like a professional. You want to present yourself in a way that sounds like you know what you’re talking about.
Don’t fake it until you make it… practice until you make it!
That’s where a lot of people drop the ball. They’re not willing to practice the scripts over, and over, and over again privately… until they master them… so they can sound great talking to clients!
If you’re willing to practice your scripts enough times privately, then you don’t have to BE confident, but you can still SOUND confident, AND say the right things!
That’s the thing that made Michael Jordan, Magic Johnson, Kobe Bryant, LeBron James, all of these people, better than everybody else. It’s because they’re willing to put in the practice and they’re willing to do those things after hours that nobody else is willing to do.
That’s what’s going to separate you and that’s what separates me and my students from everybody else.
It means the world when a Seller tells you, “I really felt like you cared about me and I really felt like you knew what you were doing. I felt like I was in good hands.” That’s a big difference and it builds people’s trust and confidence in you. This all comes from skill, and that skill can only be garnered by practice.
So, practice in private so that you can perform in public. Hey, you might want to write that down…just make sure you give me credit! “Practice in private so that you can perform in public.” And prepare to perform in public with confidence!
✅ 4. Implementation
Now if you’ve got the knowledge, you’ve got the right documentation, you’ve done your practice, you’ve done your homework, you’ve got your skills up, then you’ve got to go out into the field and take action.
Because without action, there’s no money. So, take action! In fact, take Massive Action toward your goals!
🟣 Recap
You start to develop these daily habits of building up your knowledge and getting familiar with your documentation. Know it backwards and forwards, build up your skills, your practice, your scripts, and then take action. Make that your weekly set of habits and I guarantee you’ll be able to accomplish your financial goals a lot sooner than you ever dreamed possible!
Ready to step up your game?
Check out my step-by-step real estate investing courses for both beginner and advanced investors.
Are you looking for a 1-On-1 real estate investing mentor?
Check out my Monthly Coaching and/or Hourly Consulting Programs.
Today I just want to inform many of you out there, and recap for many others, why you don’t need cash, credit or even partners to buy houses or invest in real estate!
Even though I preach this message all the time, you can’t hear it enough. There’s something called “The Rule of 7” that says that many times people need to hear something 7 times before making a decision to take action. In the age of Social Media, I’ve heard that the number may be as high as 21! 😲
🟣 So instead of cash and credit, we’re going to substitute four (4) things…
👉 1. Education (Specialized Knowledge)
👉 2. Documentation (Properly written legal documents)
👉 3. Repetition (to produce Skill and Mastery)
👉 4. and finally, Implementation (Action). You can “learn” all of this great stuff that I’m teaching you… but if you don’t take action, it’s not going to make you any money!
✅ 1. Education
So, first of all, you’ve got to have specialized knowledge. As I’ve said before, having specialized knowledge on how to buy houses without money is like creating cash out of thin air. It’s like knowing the secret to a magic trick. You have obviously got to have different knowledge than everybody else has, because you’ve got to do things differently than everybody else.
✅ 2. Documentation
In addition to knowledge, obviously you need documentation. Real estate deals are legally binding transactions. So, you’ve got to have the right paperwork to tie the deals up, and to execute your deals in order to make money.
Buying houses without cash or credit is really about shuffling papers – but you’ve got to shuffle the right papers, and you’ve got to know how to shuffle them, at the right times.
That’s where the knowledge comes in: knowing “how” to shuffle them 😉.
So, you’ve got to have the right documentation, but you’ve got to make sure that you get the documentation from a good source, right?
Many people think, “Well, I can just go to my attorney and get the documents I need.” Right? Wrong! In most cases, the attorney you find will be clueless!
Well, first of all, your attorney probably doesn’t believe that it’s “even possible” to buy houses without cash or credit.
Even if they “did” believe that it was “possible”, they don’t probably don’t buy, sell, and rent houses for a living, and you STILL have to pay them by the hour… to try to figure it out, and throw something together for you… whether their documents are any good or not! 😉
See the problem? 😉 So if you can’t get the right documentation from attorneys, then where are you going to get documentation instead?
The best source for documentation is from a real-life real estate transaction engineer, like myself. It doesn’t have to be my documentation – it should be, but it doesn’t have to be 😉 Lol.
The point is, you want to get your documentation from somebody who buys, sells, and rents houses for a living and knows the business inside and out.
Attorneys can get away with giving you “any kind” of documentation, because they get paid by the hour. So, you’ve got to pay them whether their documents are good or not.
They may not work for you and they might not stand up in court. Now, whatever documentation you get, obviously it’s a good idea to have an attorney review it.
But the bottom line is, you want to get good documentation.
✅ 3. Repetition
The third thing you need is Skill, and more specifically: Mastery.
I really struggled with his 3rd item because I wanted a more exact rhyme, ending in “-ation”, like “Preparation”. But I REALLY want to drive home the point of rehearsing over and over again, so I settled on the world “Repetition”.
In the words of Tony Robbins, “Repetition is the Mother of Skill”.
I want you to understand that to achieve greatness in anything, preparation is too general. What we want to achieve greatness is: Mastery!
So, once you get the specialized knowledge and the documentation, then you need get your skills up by repeatedly studying and rehearsing these things privately at home.
You need to practice the things you’re going to say to the seller before you actually go into the field.
You need to know this stuff backward and forward so that when you’re out talking to sellers, you’re not sounding like a beginner, you’re sounding like a professional. You want to present yourself in a way that sounds like you know what you’re talking about.
Don’t fake it until you make it… practice until you make it!
That’s where a lot of people drop the ball. They’re not willing to practice the scripts over, and over, and over again privately… until they master them… so they can sound great talking to clients!
If you’re willing to practice your scripts enough times privately, then you don’t have to BE confident, but you can still SOUND confident, AND say the right things!
That’s the thing that made Michael Jordan, Magic Johnson, Kobe Bryant, LeBron James, all of these people, better than everybody else. It’s because they’re willing to put in the practice and they’re willing to do those things after hours that nobody else is willing to do.
That’s what’s going to separate you and that’s what separates me and my students from everybody else.
It means the world when a Seller tells you, “I really felt like you cared about me and I really felt like you knew what you were doing. I felt like I was in good hands.” That’s a big difference and it builds people’s trust and confidence in you. This all comes from skill, and that skill can only be garnered by practice.
So, practice in private so that you can perform in public. Hey, you might want to write that down…just make sure you give me credit! “Practice in private so that you can perform in public.” And prepare to perform in public with confidence!
✅ 4. Implementation
Now if you’ve got the knowledge, you’ve got the right documentation, you’ve done your practice, you’ve done your homework, you’ve got your skills up, then you’ve got to go out into the field and take action.
Because without action, there’s no money. So, take action! In fact, take Massive Action toward your goals!
🟣 Recap
You start to develop these daily habits of building up your knowledge and getting familiar with your documentation. Know it backwards and forwards, build up your skills, your practice, your scripts, and then take action. Make that your weekly set of habits and I guarantee you’ll be able to accomplish your financial goals a lot sooner than you ever dreamed possible!
Ready to step up your game?
Check out my step-by-step real estate investing courses for both beginner and advanced investors.
Are you looking for a 1-On-1 real estate investing mentor?
Check out my Monthly Coaching and/or Hourly Consulting Programs.