4 Secrets to Real Estate Investing Success

Welcome to “Real Estate Investing Secrets.” We’re all looking for freedom and the opportunity to live better, more fulfilling lives, but most of us were trained our entire lives to work for someone else and chase their dreams. How can we use real estate investing as a vehicle to achieve financial freedom? My life is dedicated to answering your real estate investing questions and helping you build an investing business that allows you to change your life and the world around you and to enable you to turn your dreams of financial freedom into a reality. My name is Mike Hambright from flipnerd.com and your questions get answered here on the “Real Estate Investing Secrets” show.
Hey. What’s up, freedom fighters. Mike Hambright here with flipnerd.com. Welcome back for another episode. Today your special guest is me. Me. Is that cocky if I say that I’m special? Well, anyway, I am your guest today whether I’m special or not and whether you think so. Super excited to be here with you. Truthfully, my plan for this year is to do more kind of live interaction at events and out and about, and also just more of sharing my experiences with you. And we have an I’ll awesome lineup of some great guests coming up as well.
In today’s episode, what I really want to talk about is the difference between successful investors and those that are not successful. And you know, in FlipNerd, we have over 100,000 subscribers. We get to interact with a lot of people. We have our mastermind, Investor Fuel Mastermind. And that’s honestly what made me think of this topic or is kind of has it on my mind right now is we just finished up our Investor Fuel Mastermind. We had probably 120, 130 of some of the most successful real estate investors in America there. And, I also have a coaching program where we coach a lot of new and newer investors so I get to see this kind of dichotomy of a successful mindset and the mindset of somebody that wants to be in real estate investing but hasn’t achieved success yet. And maybe in some instance hasn’t even done a deal yet, right? So, and that doesn’t mean they’re failures, but I just want to kind of explain to you, depending on where you are, especially if you’re new or newer and getting started what a successful mindset looks like.
So, we host our Investor Fuel Mastermind. I got to do a couple of shameless plugs here. Our Investor Fuel Mastermind has two groups. One is called our gold group and one is our platinum group. Our gold group is for those doing at least 10 deals, really kind of at least a deal a month, up to 50 deals a month. Now, truthfully, there’s a lot of people in the group that are doing 30 to 50 deals a month. I’m sorry, a year, 30 or 50 deals a year. And then our platinum group is those that are doing 50 deals a year or more. In fact, we have members that are doing 300, 400 plus deals in the platinum group. And we also have people that aren’t doing quite as much volume anymore, but they own tens of millions or $100 million plus in multifamily and are influencers and industry leaders and things like that. So it’s really kind of a who’s who list of successful investors and influencers for sure.
So a lot of these folks have been through the trenches. They’ve been through the war and fought their way there. And so I’m going to share with you today kind of four things, four things that I think make a difference or have a difference in terms of a successful mindset versus those that are just getting started. So the first one is, you know, I kind of wrote down unwillingness to fail in my notes as I was thinking about this episode, but the truth is, is they’re very much willing to fail, but they’re unwilling to accept failure as the final destination. Does that make sense? So, in fail in my business. I fail every day. We have failure all the time.
It depends on how you define failure, right? If you look at 20 houses and you talk to 20 distressed motivated sellers to buy one house, you could say that you fail 19 times out of 20, but successful investors don’t dwell on those 19. They say, “I’m going to get to this one as fast as possible. Let’s fail forward quickly,” and move on.
Now the truth is, I know some of the most successful investors I know, and even myself included, we’ve had some terrible months. We’ve had some terrible experiences with individual houses. We’ve had lots of things happen that truthfully, a lot of people would have just folded up and said, “This is it. I’m done,” especially if that was their first situation or their first month or their first deal. And the truth is, some of the most successful real estate investors I know have been through some crazy stuff, family stuff. It could have been personal health issues and it could have been in their business, often in their business, but they persevered. They pushed through it, and they found a way to go forward.
So here’s what I’m going to tell you about that this first thing we’re talking about is, to fail fast and not accept failure as your final destination, is that this business is not rocket science. This business is not rocket science, okay? You can figure this business out. Now you should surround yourself with people that know what they’re doing. Have a mentor and coach if you don’t already. And the truth is, is you want to learn from others’ experiences, learn from their failures because it’ll help you maybe avoid some of those mistakes. But when you do fail, just know that it’s part of the process of getting to success. Don’t give up. There’s a ton of people. I mean this is like a cliché starter, beginner real estate investing 101.
I sent out a little bit of direct mail and it didn’t work, therefore I’m going to stop now. I tried something one time and it didn’t work, therefore I’m going to stop now. Like you’re only hurting yourself if you do that. So that’s number one. Kind of unwilling to accept failure as a final destination.
The second one that I wanted to share is confidence. Now this is kind of tied together with the first one, right? It’s like absolute confidence that if it can be figured out, you will figure it out. And the truth is, is that’s true. That’s a big part of perseverance is kind of tied heavily to the last one. But the confidence to know that no matter how bad things are right now or how good those things are, that you can continue to have success if you just stay focused on the goal, right? And a big part of that is actually knowing why you’re doing all these things. Why are you working so hard? Why are you trying to make these things happen? But confidence is absolute key. And you have to kind of earn that confidence. And again, it’s tied heavily to number one there of a working through obstacles.
So I’ll give you an example. In my business, it’s easy to use myself as an example here. I get asked all the time, “Well, this just happened to me. What should I do? What did you do when this happened?” And the truth is, is it’s very common that somebody will . . . I’ve been through a lot of experiences, but it’s very common that somebody will say, “Hey, this just happened to me. Has just happened to you before and what did you do?” And that thing has never happened to me before. But I have the confidence to make a decision like that.
And it’s not, you know, it’s just because, at the end of the day, we have to be decision makers. We have to make a decision and move quickly. I’m not certain that my decisions are always right, but I’m confident that I could make a quick decision and say here’s exactly what we’re going to do. And I don’t know if it’s the best decision. It’s an educated decision. Some of it’s gut, some of its heart, some of it’s experience, blood, sweat and tears. But I’m confident to make decisions quickly and move fast. In this business, you have to constantly pivot to find your way to success.
The third thing I want to share, and this is very, very true of our Investor Fuel group and it’s not necessarily true of a lot of new real estate investors. And part of it is just, I guess it’s probably ties back to the confidence and some of the other things we’ve talked about here is that the most successful real estate investors I know and everybody that’s inside of our Investor Fuel group, this is a very much a requirement, is that you’re a giver. You’re willing to share your knowledge, you’re willing to give away the best of what you know.
Now, the truth is, is 99 out of 100 people are not going to do anything with that information, but the truth is, is the people that are willing to give the most get the most in return, but you have to be willing to give with no guarantee of return, right? So if you’re willing to help out your fellow investor, if you’re willing to share the information you know, I can just tell you from my experience and right down to my soul, I believe with every ounce of my being, that being a giver is the right thing to do. Not just in business but in life, right? This is what we do. This is what makes this all worth it is we can change the lives of others and impact others.
And it could be something as simple as helping an old lady across the street. It could be as simple as helping somebody and that’s not quite as simple, help somebody to get started in the real estate investing business. If you’re a veteran real estate investor, the truth is, it’s pretty common that you might be a pro and have done hundreds of deals or more, but you don’t know how to do something new that could help move your business. It could be ringless voicemail or text message marketing, like really understand the process and the system. So anything you do where you can share, you’re on your path to success. That’s truthfully, not just the act of sharing but the mindset of being a giver and always trying to help others around you will serve you very, very well.
The fourth thing that I want to share, and by the way, I could probably come up with 10 different things. These are the four most important things that I had in my mind this morning that I wanted to share with you is collaboration. So a lot of real estate investors, and I’ll use myself as an example, when you get started, the last thing you’re thinking about is collaboration because you don’t even know what you’re doing yet. You’re trying to figure it out. But there’s a massive trend that I’ve seen over the past couple of years in real estate investors and especially those that are quite successful in collaborating, doing joint ventures, finding ways to partner on things, lending to one another and JV’ing on individual deals are package deals, things like that. This is rampant right now and I love it. I love it because it kind of feeds into all the other things I just said. Being a giver, playing a key role.
Now there’s probably things in your business that you’re good at or there’s things that you have the ability to be good at or it can serve a role that will help others. Like for example, maybe you have tapped into some private money, right? But you’re not doing enough deals. Well, there’s ways that obviously a lot of others that have deals but don’t have access to money where you could find a way to kind of partner up on that, right? That’s just one obvious example but there’s lots of ways to work together to collaborate.
And we see this inside of our Investor Fuel group. It’s amazing. It’s taken on this life of its own of people that are doing deals together across the country, lending to one another, all sorts of ways that you can kind of collaborate and partner up. Even those that are generating leads for others, right? They’ve cracked the code on cold calling. They’ve started a cold calling center, and now they’re calling for others for example. The things like that are just really powerful. So I would ask you and I would advise you to continually look for ways to collaborate in your business with other people that you like.
The truth is, this is kind of a lonely business. Real estate investing can be, unless you’re in a mastermind, you know, like Investor Fuel, which is largely why I created it and why we’ve had a great level of success here quickly, is that we focus on giving and collaboration. And we focus, even though we’re a real estate-based mastermind, we focus a lot on kind of the journey. What is this all about? We all want to live better lives. So whether you buy a deal a month or whether you’re doing 10 or 20 or 30 deals a month, you know, a lot of times if you’re not surrounded with other people like you, likeminded givers, people that have the experience of working really, really hard to be able to leave an impact or build a better life for their families and those around them. Unless you’re around people like that, it’s kind of lonely.
And so that’s my lesson for today, guys. I hope you got some value out of this. I’d like to ask you a couple of things before we end here. If you’re an active real estate investor doing deals, at least the deal a month, or many more potentially, and you have not talked to us yet at Investor Fuel to learn more about this. I mean there are literally people that came into the group and they were successful doing 30, 40 deals a month, 30, 40 deals a year, sorry, that have literally 400% grown their business. Like the next year after being an Investor Fuel, they’re buying 300%, 400% more houses, right? This is not uncommon.
I would argue that there is nobody that has ever joined this group that didn’t easily pay for the cost of the group by boosting their business up. So I mean we’ve had very few people that have left the group at all and nobody has ever said, you know what, I’m just not, you know, I’m not doing more business because of this. And it’s not that the group is teaching you, it’s not really a coaching program, it’s just being around the right people to take you to another level. If you have not talked to us yet and you’re an active investor, just go to investorfuel.com. You can fill out a little bit of an application. It’ll take you a couple of minutes and that’ll get you on the phone with us. We’d just love to tell you more about it.
The truth is, is we’re building something here that is incredibly special. Everybody in the group would agree with it. If you know another member, simply ask them what they think about it, okay? I’m just telling you, it’s hard for me to not be biased, but you’re going to hear some positive feedback.
If you’re a brand-new investor or you’ve done a couple of deals and you’re having a hard time turning it into a business and you’re kind of still in what appears to be hobby mode, then we have a coaching program that is truthfully world-class. Now again, hard for me to not be biased, but you should go to flipnerd.com/coaching and fill out an application. You could jump on the phone with us, and we’d like to tell you more about that. It is truthfully world-class.
We don’t focus on all the sizzle like fancy cars and private jets and all that. We focus on the steak, which is actually putting the right systems and processes in place to truly build a business that can impact you for the rest of your lifetime and impact your family. Your family tree, right? Your children and your grandchildren and teach them how to be self-sufficient through real estate investing by building a real business. So you can learn more about that at flipnerd.com/coaching.
If you’ve gotten some value out of this message, I would love it if you could subscribe to our podcast and leave a positive review or even, and if you would, wherever you’re listening to this at right now there’s probably a share button. If you’re on YouTube or you’re watching it anywhere else, just hit the share button and share it on social media. Maybe we can impact others as well. So, I appreciate you guys so much.
By the way, we’re creeping up on 500 episodes here later this year. Super excited about it. I’m going to keep the great content coming your way as long as I feel like I’m making an impact. So if you don’t mind, just let us know. Share this. You can share it or leave a positive review that tells us that you’re listening, that you love it. So we appreciate you guys. Have a great day. Happy investing. Until the next episode, keep fighting for freedom. We’ll see you there.
Thanks for listening to today’s show. There are three ways I can help you start or grow your real estate investing business. If you’re a new investor and just getting started, the FlipNerd Investor Coaching Program is the most effective program in America. I’ve been coaching and mentoring new real estate investors for 10 years, and my students have literally purchased thousands and thousands of properties. Many of them started with little to no experience at all. Our program is a paint-by-numbers program where we tell you exactly what to do week by week to make sure that you don’t get distracted on your way to results. We show you how to build a real business, not just create another job for yourself. New memberships are limited. You can learn more and apply or schedule a call with me and my team at flipnerd.com/coaching.
If you’re an experienced investor doing a minimum of 10 deals a year, up to 500 deals a year or more, or have a multimillion-dollar real estate portfolio already, you should check out our powerful Investor Fuel Real Estate Investor Mastermind. Over a hundred of the nation’s leading real estate investors are members, and it’s not uncommon for our members to 2 to 5x their business just from getting around other members at Investor Fuel.
At Investor Fuel, each of us are business advisors to one another’s businesses, but we don’t stop at business. We focus heavily on becoming better people and living fuller lives. If you’re looking for fuel for your business or fuel for your life, please check out investorfuel.com. Applications and interviews are required as most investors are not a fit for our community. Please learn more at investorfuel.com.
If you’re not ready for coaching or masterminds, but eager to start learning more about investing, please join our private Facebook group by visiting flipnerd.com/facebook. New members get access to free training from us right here at flipnerd.com and it’s a community to safely ask your questions and a great place to get started. Simply go to flipnerd.com/facebook to request your access today.