Focus and Action

Every real estate investor has a three-part dream. Firstly, they hope to find a deal of huge economic value. The second part of the dream is that they recognize the opportunity that they see. Finally, the investor must be ready and able to act on their discovery. The investor is rewarded when he/she makes all parts of the dream happen. If you really want to experience regret, find a great deal and then pass on it because you don’t see the value. When the next person comes along and extracts the value, you might have a real fit over your missed opportunity. Recognizing that there is a deal may cause excitement; but wait until it is complete before celebrating. The final step of acting/closing can require courage; but being well-prepared to act reduces stress. Action alone is insufficient to bring success because acting on bad deal or without direction can cause devastating monetary losses. Knowing that there is a deal but not being ready to act on it is also a recipe for long-term regret.
Getting prepared for the last step, action, is our first step in the process of putting a successful deal together. We don’t have knowledge of when deals will come up in the market or what they will be; however, we do know that we need to be ready for the times that the deals show up. Our banking, accounting, back-office, and contractor network is always at the ready. When we discover a deal, we are ready to “roll out” and put it together. This readiness enables us to focus on deal acquisition and analysis at critical times. We do not find ourselves in front of a prospective seller debating on if and when we can buy a property. We arrive ready to buy the property at any moment and close in a day.