Today’s REI Classroom Lesson

Having a vision for your real estate investing business is critical to having a successful future, as Duncan Wierman goes over.

REI Classroom Summary

Take a step back and think about who you want to become, how you can get there, and what you can do today to get a step closer to your goal.

Listen to this REI Classroom Lesson

Real Estate Investing Classroom Show Transcripts:

Mike: Welcome back to the FlipNerd

Mike: Welcome back to the
REI Classroom, where experts from across the real estate investing industry
teach you quick lessons to take your business to the next level. And now, let’s
meet today’s expert host.


Duncan: Hello, everyone, and welcome from REI Classroom by FlipNerd. My name’s Duncan Wierman.
I’m going to be your host today and we’re going to be talking about marketing
and lead generation.


Mike: This REI real estate
lesson is sponsored by


Duncan: And before we actually get into that, I really want
to start with why you need a real estate business vision. You need to know what
you’re going to be doing here, and there’s a saying that goes like this: "Failing
to plan is planning to fail."


When you’re running your
real estate business, if you really skip the steps because you think it doesn’t
matter, then you’re not going to be able to build a long-term sustainable
business that really is going to provide you with the security and the money
that you want.


Having this vision really
allows you to think bigger and achieve your dreams. While your first goal is
likely just to get a deal under your belt, there are other things [Blank audio
00:01:17] project actually starts with in mind. Remember, we always
start with the end in mind, as Franklin Covey said.


If you build houses for a
living, you should concern yourself with the end result of, "Hey, it’s a
[inaudible 00:01:35] house. It’s not the first nail you hammer. Without a clear
picture of the end result, you won’t even know where to get that first nail.


So, again, let’s start with
the end in mind. We’re going to create a business that’s successful because you
know where you’re going. So number one, that sustainable business. If you have
a vision, and I mean a long-term vision, and it’s going to constantly evolve
over time, you’re on the right path.


It’s very important to
remember that you’re creating a business, not a job. I’m sure you’ve always
heard you’ve got to work on the business, not in the business, right? You’re the
Chief Executive Officer. So you want this business to last longer than a week
or month. You don’t want to burn yourself out, that’s why you need a vision.


As your vision begins to
grow, that’s going to help you plan what you’re next move is, what you’re next
strategy is, adapt to the market. And having a vision, then, starts to allow
you really to live your passion and do what you love because it’s not just
about money. It’s about the things that money can provide for us, that freedom,
the financial benefits along with everything else.


You’ve got to know
like-minded contractors. You’ve got to network and you’ve got to surround
yourself with successful people in your real estate business. By having a
vision, you’re going to attract those people to you. Your vision really starts
to define what you stand for. You can now start speaking with a clarity of mind about what you do and when you do it, and
how you can help. It really makes you stand out from all the rest.


Then, of course, you’ve got
to have an exit plan, like, myself, I’m going to
retire next year. I’ve done everything I wanted to do in this business and it’s
been very good to me. And it’s going to provide well into the future.


Because I had this vision
when I began, like writing out my goals, who am I, what I wanted to do, who I
wanted to help, it allowed me to create systems that I was a Chief Executive
Officer, rather than trying to work in this business. I did more deals faster.
I did them better than anybody else and I grew faster than anybody else.


The other thing is, by
having your vision, it helped me very clearly define who my buyers and my
sellers were, which again, it allowed me to get deals
faster. So by having this vision, it allows you to become more unique.


So, guys, I really stress,
when you start your real estate investing career, or even if you’re in one now
and you’re not getting to where you want to go, please make your brain hurt a
little bit and really think about what you’re doing, who you want to become, what
kind of business do you want because that vision is going to define you and
your offering.


Please don’t be another "me
too" investor. You’ve got to stand out in today’s market, and from this
exercise, everything else will start to fall in place. So that’s all I have for
this episode of REI Classroom by FlipNerd. Stay tuned
for our next one. I’m Duncan Wierman. I’m signing


Mike: HomeVestors,
the "We Buy Ugly Houses" folks, is a franchised system of hundreds of
real estate investors that have purchased over 65,000 houses. If you’d like to
learn more about the most powerful real estate investing system in existence,
whether you’re a pro looking to take your business to the next level, or
whether you have no experience at all but a burning passion to be successful in
real estate investing, please visit to learn more.


Please note, the views and
opinions expressed by the individuals in this program do not necessarily
reflect those of or any of its
partners, advertisers or affiliates. Please consult professionals before making
any investment or tax decisions, as real estate investing can be risky.


Are you a member yet of,
the hottest real estate investing social community online? If not, you can join
for free in less than 30 seconds and get access to hundreds of off-market
deals, vendors in your market to help you in your business, and you can start
networking with thousands of other investors just like you. Get your free account
now at


Please check out the FlipNerd family of real estate investing shows, where you
can access hundreds of expert interviews, quick tips and lessons from leaders
across the real estate investing industry. They’re available at
or simply search for FlipNerd in the iTunes store.