You need something more. You need a solution that’s designed specifically for Real Estate Investors like you and me. You need a headache-free conversion and relationship investing tool that takes the time to learn about your customers and personalize each touch point. You need a CRM that actually delivers on the promise of taking your business to the next level. And that’s exactly why I built InvestorPO.
We miss you March Madness 2020…
I know, I know… It hurts…
It was hands down the right call for the NCAA to make for the safety of their players and their fans, but it doesn’t mean it stings any less. So much so that grieving basketball fans are turning to online March Madness simulations with computer-simulated round-by-round results that predict how this season might have played out.
Analytics and algorithms might be able to make educational guesses as to which teams could have made the final bracket, but life can always surprise us in ways that artificial intelligence can’t predict. And while we’ll never know if our favorite teams could have been named NCAA Champions during the 2020 March Madness season, we can take some lessons from their hard work over this past year.
They trained hard for the big game…
Winning a championship isn’t easy. Nothing great in life is. We should honor and respect the blood, sweat, and tears that our players put in over the past year to train for March Madness.
Knowing that a championship doesn’t simply fall on their laps, players sacrificed by getting up early for practice and arriving home late after classes. They were willing to put in the time and energy it took for a chance to win. Their output and determination is admirable.
In the same way, as entrepreneurs, we need to be proactive and intentional when it comes to training opportunities. How much effort and work are we willing to put in to win? While we’re at home due to Coronavirus restrictions like the Safer at Home Orders and the Shelter in Place Orders, we should be intentional about how this time is being spent.
Sure, being forced to stay inside our homes isn’t how we wanted to spend our time. But this time doesn’t need to feel like a punishment. This is a time where we can be more productive than ever. We can spend this time learning and preparing to take our businesses to the next level.
The savviest real estate entrepreneurs are already using this time to grow their skillsets through learning and development opportunities like the ones we’re offering for free on our REI Beacon Facebook Group.
Being a part of a team where you can get coaching and training from people who are further along than you in this business is essential. After all, a team is nothing without a coach!
Take this time to ask yourself these questions:
1. Are you prepared to put in the time and effort it takes to train for the big game?
If you’re not willing to spend intentional time learning and training now while you’re already spending forced time at home, then it might be time to ask yourself this tougher question:
2. Will, there ever be a time when you’re ready to put in that kind of effort?
Hopefully, you said yes to one of these questions.
If not, then running a winning business might not be the right career move for you.
The most successful people surround themselves with people who are smarter than them.
Free resources for real estate entrepreneurs:
Here are some free resources where you can get involved with real estate investors and hybrid real estate agents who are doing both listing and buying in today’s market. These are the people who are learning from the best, and who are making tons of money doing it.
They prepared for Game Changers.
A failure to plan is a planned failure…
From injuries to viruses, the best coaches and teams have backup plans and a strategy for all of life’s “what ifs.”
One of the hardest lessons we’re learning as a world is that we need to be better prepared. Precious lives, time, and resources are being lost due to our failure to prepare ahead of time for this pandemic. We’re all learning hard lessons because of it.
Do you have a backup plan? How about a backup plan for your backup plan?
If not, join a free strategy session like REI Beacon’s Free Strategic Thursday Webinars!
Will a Coronavirus recession be a game-changer for real estate entrepreneurs?
With a potential recession following this unprecedented event, our industry will likely see an influx of sellers needing to exit their homes fast. While this is an incredible opportunity for real estate entrepreneurs, those who fail to prepare a solid business strategy might fold under the pressure.
Now is the time to prepare a strategic game plan that will allow you to hit the ground running and maximize your productivity and profits. Join your peers and industry experts in a free community where you can ask candid questions and learn from what other players on the field are doing in real time.
They know that leaders make headlines, but it’s the teams that win!
Everyone knows that a sports hero can’t win a championship alone. The entire team is needed to win that championship game.
In the same way, as a business owner, it’s easy to feel like you have to take on everything alone. But if you look at any successful entrepreneur, you’ll see that they’ve had a team behind them the entire way.
You need the right team behind you if you want to win big!
Building a winning team doesn’t have to be cumbersome or expensive. Our company was founded by real estate investors who understand that the right systems and shared resources can be way less expensive and even more powerful than having an in house team.
They understood when to conserve energy and when to elevate their game.
Have you noticed that your favorite star performer doesn’t play every game as they do during the playoffs? Conserving energy and star performers until the end of a game—or the end of a season—has been used time and time again by basketball players and their coaches.
Because it works!
It’s called playing the long game…
Real estate entrepreneurs need to learn from this. By focusing on the long game, we reduce burn out and conserve our energy for when we need it the most.
We’ve said it time and time again, running a real estate business is a marathon and not a sprint. Many of our prospective sellers aren’t even ready to work with us right now. But if we play the long game and maintain contact with them, they’ll be looking to us when they are reading six months to a year down the road.
Real estate entrepreneurs lose a lot of deals because they get shortsighted and give up too soon on sellers. Having the right system behind you that automates your follow-up and keeps in touch with your sellers 6-12 months from now is imperative.
Give a round of applause to the athletes who gave their all!
While we’re all mourning the loss of March Madness and sports in general, now is a great time to give a round of applause and a shout out to the millions of athletes around the globe who gave their all this past year.
We hope that as we navigate the next year that the same can be said of us!
Sellers are going to need us soon. How we spend our time now preparing will make the difference when the season opens.
Join REI Beacon and get ready for the championships!
We invite all real estate entrepreneurs to join our free public Facebook group— REI Beacon. (If you’re curious about the name, check out the quote below.)
This is where we’ll be rolling out tons of free resources and training for you to make it to the playoffs and beyond!
It’s that time of year again, and everyone across the nation is getting prepared to file their taxes for the 2019 fiscal year. Whether you’re a novice or an expert real estate investor, dealing with business taxes can be a real pain. While tax returns aren’t due until April 15, 2020, preparing now can save you a massive headache.
Here are 5 ways real estate Investors Can Prepare for the 2019 Tax Year Today.
1. Find a Well-Rated CPA or Tax Strategist Who Works With Real estate Investors.
If you don’t already have a CPA (Certified Public Accountant) or a Tax Strategist, then now’s the time to start looking since some of the best CPA’s get booked up well in advance. When searching for a good tax advisor, do your homework. Read online reviews and make sure they work with other real estate investors. Ask other real estate investors who they use. A skilled tax advisor can save you a good deal of money. Especially if they fully understand our industry and know how to get you the best deductions.
2. Get Organized with a List of Tax-Related Documents You’ll Need.
Ask your tax advisor for a list of what all they need from you to complete your tax return. Most CPA’s will send you a list upon booking your appointment, or they will tell you what’s needed over the phone. Don’t wait until the last minute to find these documents! Duplicates of missing documents could take weeks to arrive. And if you lost last year’s tax return, the IRS can take six weeks to mail a copy to you.
3. Receipts, Receipts, Receipts…
Work on gathering all of your receipts for business expenses incurred over the past year. You should be collecting these throughout the year so you’re not scrambling last minute to find a backup of your deductible business expenses. If you don’t like keeping paper receipts, that’s okay. Scan them to yourself throughout the year and save them in a folder. Better yet, use accounting software like QuickBooks that has a mobile app where you can upload receipts in real-time when you pay for business expenses. Don’t forget to keep up with your mileage too!
4. Prepare and Finalize Your Income and Expense Reports.
This is a must-have for all CPA’s and Tax Strategists. Utilizing an accounting software like QuickBooks to track your income and expenses throughout the year makes this a breeze. Your reports should include all income and all expenses incurred during the 2019 fiscal year.
5. Prepare Questions for the Meeting With Your CPA or Tax Strategist.
Keep a list of all questions that arise as you’re gathering your tax paperwork. While you have their direct attention, this is a great time to get your questions answered fully. Consider asking them about how you can save more on your taxes. If you’re looking to save for retirement, ask them about your options and how much investing in your retirement could save you. Be sure to be upfront and honest with your CPA and let them know if you can’t afford a tax bill. They can help you schedule an extension if needed or assist in setting up a payment plan with the IRS.
Looking For a Great Business Deduction for the 2020 Tax Year?
Operating systems, marketing expenses, and services are often considered tax-deductible. And guess who offers all of these under one platform? At RealEstateInvestor.com we’re on a mission to REVolutionize the business and REInvent Real Estate Investor’s lives. If you’re looking to reduce stress while still growing and scaling your business, we can help! Check out our website and ask us about our packages that grow with you as your business grows.
*Disclaimer: This article has general information on the subject matter and should not be taken as tax advice or legal advice. Each business and personal tax situations are different. Should you need tax or legal advice, consult with a tax expert, your CPA, an attorney, or other financial advisor.
To be successful in the real estate investment space, we have to build teams that can withstand competition. Who should we be including in our teams, and why is it vital to find a mentor? Should we be shying away from competition or embracing it?
On this episode, author and host of The Real Estate Locker Room Podcast, John Carney shares how to compete in the real estate investing space.
Look, if you’re like me—a fellow Real Estate Investor—you’re over it. The mere glimpse of these three letters makes you cringe. If you’re fortunate enough not to know what I’m referring to, count yourself blessed. But for the rest of us, you probably feel my sentiment deep down in your core.
This year alone, there are over 700 CRM’s vying for your attention. Every single one of them promises to answer all your business woes with one “simple to use” platform. They promise better customer relationships, more efficient processes, and time savings to name a few. As a busy Investor, anything that could save me time and streamline my processes was worth looking into. What did I find when I opened that shiny CRM door?
A bunch of empty promises…
Look, I’m not cynical by nature. But unfortunately, I’m well versed in trying out multiple tools, methods, and CRM’s that underperformed and failed to deliver on their promises. Much like all of my peers in the Real Estate Investing industry, time is money. The idea of saving time while streamlining my business made me jump at those shiny promises. After lots of money thrown out the window and endless hours wasted, I finally came to a conclusion.
That my Real Estate Investing company didn’t need another CRM!
I can almost hear your gasp—but it’s true. I’ve tried most all, and I’ve researched the market. What I’ve found is that most CRM’s today are simply too complicated to configure and maintain. Almost all of them were incomplete and required additional software, tools, or third-party services to work as promised.
Deals close themselves when your business invests in relationships.
It all comes down to relationships in our industry. Relationships that require a human touch and not a cold autoresponder that fills in their name and sends the same message to both buyers and sellers. I spent months searching high and low to find a service that had the tools I needed to manage my business and provided individualized touchpoints that were genuine, unique and personalized. Guess what I found…
So I decided to build it myself.
You don’t need another CRM. You need a Customizable Relationship Investment Tool.
If the idea of converting to another CRM makes your heart race, I get it. Trust me. I’ve been there. Through my own trials and tribulations, I’ve found most systems to be too generic and lacking true personalization, as well as the flexibility I need to manage my business.