Cash Flow Guys Podcast

Many Americans decide after buying a timeshare that they want out of the deal. In this episode, Gordon Newton, the Author of "The Consumer’s Guide to Timeshare Exit", shares many of the common scams perpetrated by timeshare exit companies and the timeshare sales companies themselves.  Listen in and visit our affiliate link for a copy of his free guide called “The Consumer’s Guide To Timeshare Exit” by heading over to http://CashFlowGuys.com/TimeShare

We all want to do deals and get rich, BUT most Americans cannot afford to be rich. Yes, I actually typed those words..most Americans cannot afford to be rich. Becoming rich takes a certain mindset, it takes using that grey matter between our ears to position ourselves in the correct mindset to receive wealth. Believe it or not, most of us shun wealth by our thoughts, actions, and words.

What is the first step in real estate investing? You have to determine your strategy and your investor identity. In order to do this, I highly recommend getting a basic education from Robert Kiyosaki’s books that will really guide you through figuring out your investor identity. This is where you need to start so you can learn a lot and decide what direction you are going to go.

Where are all the deals? I hear this a bunch, and my usual reply is “What specifically have you done to find opportunity?”  After saying that, I hear silence, the reality is the answer is that they have not done a thing. I also hear about investors buying properties simply because “they could” or because “the seller allowed me to buy” which blows my mind. When we focus only on “what’s for sale” we are seeing the same opportunity as everyone else.  In what some refer to as a seller’s market, this creates a frenzy as the scarcity mindset kicks in as does F.O.M.O (which stands for Fear of Missing Out).  Any time there is buying pressure, people simply overspend because of the fear of missing out.  Overspending often leads to a foreclosure. Instead of focusing on what’s for sale, perhaps we instead focus on finding problems.  When we shift our focus to sellers with problems (or properties with problems) we then have seller motivation on our side. What are problems? Problems are ANY situation that motivates a seller to sell their property.  One of the best ways I learned to discover problems is to say less and listen more.  By closing my mouth and opening my ears I discovered that problems were all around me once I learned to recognize them. Ugly Properties - Driving for dollars is a time tested method that does produce results over time.  Walking for dollars is a much more effective solution because you can better see the details of what is happening on your area.  By walking instead of driving, you can also better notice changes that would otherwise be missed while driving down the street looking ahead. Lawyers are a great source of leads, take the time to network with several of them, specifically those that focus in elder law, probate, family law, etc.  More often than not they have clients that need to liquidate their real estate in connection with some sort of legal event such as a divorce, lawsuit or probate. Public records mining is also a great way (especially for those who are shy) to “dig for details” and uncover case history and recent filings for the legal proceedings mentioned above.  Be sure to add to that those who are behind on property taxes.  Reach out to people who are behind on property tax to buy the house BEFORE a tax certificate or tax deed sale happens.  For many this might be their last chance at profiting from the sale of their property. The bottom line is that as investors, we need to spend less time buying off the shelf and more time digging for the gold, its out there! Trust me on that.        

The Pendulum Theory is based on Newton's First Law of Motion, which states that an object at rest tends to stay at rest, and an object in motion tends to stay in motion with the same speed, and in the same direction unless acted upon by an unbalanced force.Let's create a visual so you can better understand this concept. Start by drawing a circle and put the numbers. Now draw a thick unbroken line from the 9 o'clock to the 3 o'clock. On the middle of the line, we will place a pendulum; the pendulum can swing back and forth from 9 to 3 and from 3 to 9.This represents how your prospect feels about your opportunity. At any given time in the sales process, a prospect can sense positive, negative, or indifferent towards what you are selling.

Both your time and mine are valuable. So today we are just going to dive right in. We live in a very noisy world. There are sounds and distractions all around us that keep us from hearing what people are really saying. Last week, I talked about why I deleted Facebook from my phone because it is such a distraction from the things we need to do. All around us devices are beeping, buzzing and making noise. They are keeping us from talking to each other. This week I'm discussing how we have an absolute epidemic of people who can’t stop talking long enough to learn or be educated on any topic.

This week I want to talk about an epidemic that affects everybody, and that is social media addiction. Today’s society lives in a very noisy world, and the noise I’m speaking of has nothing to do with that which comes in your ears. I recently deleted the Facebook app from my phone, because it simply became too much of a distraction for my taste.   You see, I have discovered that far too much of my day was invested in staying on top of things on Facebook.   I was that person that was lying to himself thinking that I needed to be on Facebook because that’s what was best for my business. When I looked inward and became honest with myself the reality was that I had a fear of missing out. I have also recently learned that the addiction to social media that we all suffer from is fueled by dopamine, or more importantly the head of dopamine we receive when we get something in front of us to keep our brain busy. Before I was able to delete the app completely I had to ask myself a very difficult question. The question was whether or not my time on Facebook was actually having a positive impact on my business. To test the theory I made no posts at all myself for two weeks. I quickly realized that I, Tyler Sheff, did not need to actively engage in social media it myself in order for it to have a positive effect on my business. I have been on Facebook since day one and never once was able to see any tangible opportunity that relates to my business as a real estate investor on Facebook. I have seen lots of lies, gimmicks, posing, staging, and other ridiculousness but nothing that has and had any positive impact on my business whatsoever. For me the straw that broke the camel’s back was in witnessing a post from one of my friends, where another person made a comment and then another person attacked that person for their comment which began a back-and-forth barrage that was nothing short of obnoxious and cruel.   Social media has turned what would normally be every day average people into borderline monsters.   Because I am a positive person I cannot be surrounded by constant negativity or obnoxious people, therefore Facebook had to go bye-bye. Below are some shocking statistics that you all need to take heed of: Facebook’s own Mark Zuckerberg said that the average Facebook user spends 40 minutes per day on Facebook.  That adds up to One Year and Ten Months!! 79% of Americans use Facebook Daily 1.3 Billion users as of 4th quarter 2017 80% of time spent on social media happens on Mobile In order for investors to get on board with what you’re doing you have to be focused on one specific type of asset class. The problem with social media is it gives many people an opportunity to show exactly how distracted they are in reality. Over sharing is also far too common on social media channels, don’t kid yourself to think that people aren’t watching. In order to be successful as a real estate investor you must be focused on one asset class, because as we all know,  a man who chases many rabbits catch is none. It is important to note that there is software virtual assistants and companies whose job it is to maintain a presence for you on social media. Instead of you wasting your precious time on social media you can simply delegate this task to one of those sources. Social media is a powerful advertising medium which is what it has evolved to over the years. Just because you are advertising on social media doesn’t mean that social media needs to control your entire life.  

Today is going to be a bit of a different show. I’m not going to be my usual giddy and chipper self; there will be swearing. If you're sensitive to explicit language, I would suggest you turn off the episode now and wait for next week to roll around.

Today we’re going to talk about an area of the investing process that we actually have never covered before: the wonderful world of probate. I personally have never done a deal that was in probate before, but I brought on a guest today that will help clear things up on everything I don’t know.

In this episode of the Cash Flow Guys Podcast I will be covering the topic of doubt and why many people fail to see real estate investing as a viable strategy.   This episode was inspired by a new member of our Facebook group, the Cash Flow Guys community. To join the community for free go to http://CashFlowGuys.com/group