Create Your Own Deal Flow in 3 Steps

Real Estate Investing is like fishing in some ways. You have to learn how to find the Big Ones without working too hard.

I am a fly fisherman from way back. Even tie my own flies on occasion.

Standing by the stream you will soon notice that the biggest fish are not the ones eating the flies on the surface of the water.

The biggest fish don't spend that much energy. They like to be served their dinner in a more quiet fashion.

Put on your sunglasses and you can see the big ones finning slowly behind each of the bigger rocks.

They sit in the slack water behind the rocks waiting for bits of food to flow by on the current. Then they just turn their heads and gulp it down and return to their resting place.

When you want to be a Big Fish Real Estate Investor, the secret is to get profitable projects to flow right across your desk.

It's called Deal Flow ... when you see multiple profitable projects flowing by your eyes every day.

You play the Big Fish and nab the best deals as they stream by and you can create a system that makes this flow happen automatically with these three steps.

Step 1) Clarity on Your Goals

Think for a second ... what are your Real Estate and Financial Goals for the next 12-18 months?

- What property purchases do you want to make?

- How many projects for what dollar volume do you want to take on?

- What amount do you want to add to your Net Worth?

Once you have the answers and you are absolutely clear on what you are looking for move on to step two.

Step 2) Build Your Network

Get the word out. Let EVERYONE you know in on your goals, especially if they have a business reason for helpin you reach them.

It is only by telling more people what you are doing that you can expect to see more deals come your way. What is cool is that people love to help. I will even guarantee you ...

If you don't have Deal Flow right now, it is simply because the number of people who know what you are looking for is too small.

Network Building: Bigger is Better Amp It Up

Make an actual plan to build your network with the kind of contacts you know will get you to your goals.

Go through your contact list and pick

- half a dozen Agents and Brokers

- A Title Company or three

- Real Estate Lawyers

- Several Mortgage Brokers

- CPA's

- A couple of Appraisers

- your favorite Property Managers

- Bankers

- 1031 Exchange Agents and more

Write down anyone and everyone who would benefit by helping you reach your Real Estate Goals and then call each one up and tell them exactly what you are up to. Let them know your goals, straight up.

Give them your contact information and stay in touch at least four times a year.

Here is a way to go even faster

Step 3) A Deal Flow Jump Start - Pay It Forward

As you are building your Network remember to make it work in both directions. You give time and support to the people in the Network and they will do the same for you. That's how you get the Deal Flow started.

The Secret? To get what you want you have to give other people what they want.

Take every opportunity to ask the people in your network what their goals are - what they want and need - and give it to them every chance you get.

Let's say you are looking for a retail strip and a member of your Network is hunting for office space ... and then you run across a smokin' office deal ... tell them. What will happen is that same person will turn you on to a perfect retail deal soon enough.

It can be as simple as these three steps

1) Get Clear on Your Goals

2) Create A Network And Tell Them All

3) Help Network Members Whenever You Can

Just like the big trout has the stream current bringing food right to its mouth, your Network is the current that brings Deals to your desk "automatically".

These three steps implemented every day - make it a part of your basic routine - will allow you to generate your own Deal Flow that lasts as long as you continue to feed your Network.

You will soon be able to sit back like a Big Fish and just watch the deals come across your desk grabbing only the meaty ones to take on.

Article Source: http://publisherscloninghouse.com

If you are thinking about investing money you can tap into Dike Drummond's Deal Flow of Commercial Property Investment Projects with these links.
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