Something I’m Reading

I’m still working through the book Bothy Tales by John D Burns which I mentioned last week. Since I have been traveling, I haven’t had a lot of time to read.

Something I Teach

I may have said this before, but it's just so important so I want to say it again. Most things that require success in the world are not one-off events. They're just boring, repeatable actions.

For example, getting in shape is just eating healthy and exercising in and out, every single day. When it comes to fitness, you have to do those things yourself. You can't outsource your pushups. However, in business, you can outsource those repetitive tasks.

An example of this would be making offers. We all know that if we made a hundred good offers, we'd likely get at least one accepted. But most entrepreneurs are not willing to make hundred offers because we typically get bored after like three. So find a way to get other people responsible for that task so the job actually gets done. That's what employees and having a team is all about. If you hire the right person, those tasks are not boring or repetitive to them - it's actually exciting for that person! They love to make a hundred offers and they likely wouldn’t want to be you or doing what you do! Success is just boring and repetitive actions - so find somebody who's good at doing that and make them do.

Something I Photographed

Our Europe adventure is over, but the road trip is not! Quick stop over at the Great Wolf Lodge in Massachusetts, and we’re back on the road!

Something I’m Excited About

ODC is under contract on three apartment complexes across some of the hottest MSAs in the country – Austin, Texas, Atlanta, Georgia, and Daytona, Florida! I’m especially excited about the high-growth locations and value-add opportunities in this portfolio. These properties will make up our next offering which is right around the corner. We expect to launch this to the public in early May but if you want more info before then, sign up for early access at odcfund.com/email.

Something I Can Answer

Every week, I answer one question asked by a BTB subscriber. Have a question you want me to answer? Reply to this text with your question!

Question: “How do I build my network and rapport in an out of state market?”

Great question! First off, go visit your out of state market! It sounds obvious, but most people don't do that. It’s worth the $400 plane ticket to go and spend several days there to network. Go to biggerpockets.com/events (or check out this link here), find a meet-up for REIA group, and make sure you visit when the group is meeting. If there's not a meetup then plan a meet up yourself before you get there.

The second thing is get active on the BiggerPockets forums. There are sub forums for almost every like sub market in America. Get active in those forums. Find out who the players are. Get on the phone with them. Text them. Build a friendship with people in that market that way. When it comes to things like lenders and agents, David Greene’s book, Long Distance Real Estate Investing, is great resource for that. The gist is build your “Core Four” - this is your agent, your lender, your contractor, and your property manager. The key to the core four is finding an amazing agent. They'll help connect you to the other three.

After this, it’s really just about followup and connection. People don't care if you're local or not local - what they care about is that you can get a deal done, you're responsive, and you're good to work with.

Your Friend,

P.S. Comment below and let me know your thoughts on this week’s BTB! Please be friendly :)