Today’s REI Classroom Lesson

Chase Thompson the simple concept that can help you become more productive, efficient, and confident in your work.

REI Classroom Summary

No matter the type of work you do, do it every single day. By making phone calls, rehabbing, selling, etc., every single day, you improve your results and can be more effective.

Listen to this REI Classroom Lesson

Real Estate Investing Classroom Show Transcripts:

Mike: Welcome back to FlipNerd.com 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, lets meet today’s expert host!

Chase: Hey guys what’s up! Chase Thompson here from the Note MBA podcast. Today we’re talking about “Don’t Break the Chain!” on the REI classroom.

Mike: This REI classroom real estate lesson is sponsored by virtualstaffnow.com.

Chase: Alrighty guys, so we’ve already covered some really cool stuff in the past. We’re talking content creation; we’re talking about how insights win. Today we’re going to talk a little bit about not breaking the chain. It seems tangential in the beginning, but I promise it will make sense towards the end.

So, the way we’re going to talk about this one is we’re going to start off with a little bit of a story. So there was an amateur comedian. He was like hitting the circuit, trying to go to different little dive clubs and stuff like that, doing some open mic nights and things like that. So he goes into a club one night, and sure enough, Jerry Seinfeld was there. Not like Jerry Seinfeld before he was big. This was Jerry Seinfeld in the middle of when Seinfeld was the show on TV.

I know a lot of my audience here is a little bit older so you know what I’m talking about. It was it. That was the show of the time. He’s in this small little dive, this club doing open mic nights. Come to find out, he did this throughout his whole career so he could stay fresh, right? Not a lot of people knew that but you could just come to the club expecting to see a couple of B, C and sometimes D comedians and sure as enough you’d get Jerry Seinfeld sometimes, which is amazing.

So this comedian, he rolls up on Seinfeld knowing this is his one chance to figure out how to make it work for his career and he basically asks him, he says, “Hey, what can I do to be a better comedian?” So, Seinfeld says, “Oh, it’s simple. It’s really really easy. Tell better jokes.” Which is hilarious. Right? That’s super funny and of course it’s great. Of course that’s what you need to be a better comedian.

So then he kind of chuckles a little and goes, “Well, what I learned is that I needed to tell better jokes to be a better comedian. But to tell better jokes, I had to write more jokes.” Like that was the obvious one right? If I write 10 and 1 is good, what if I write 100, then 10 will be good, right?” So then what he realized is he said, “What I realized, to write better jokes and to tell better jokes, I have to write everyday to be able to write more jokes.”

The guys like, “Really? Okay.” He said “So, what I did was, is very early in my career is I realized I needed to write every day. So, I went and bought . . .” now this is kind of old-school, okay starting to make their way back. He said, “I went and bought one of those big wall calendars that had 365 days on it. And what I did was, is I got a big red marker and every day I would write, I would put a red X on that day. So, really quickly I realized, that it wasn’t writing everyday or writing better jokes or even telling better jokes. That was my job. My job became not breaking the chain. Not breaking the chain of these red X’s up and down this calendar because I realized as I continued to amass this crazy number of X’s, my business got better. I got more popular, my jokes got better, my writing got better. All this kind of stuff happened. So, my job became not breaking the chain.”

So this is where it matters to you guys. Find that lynch pin in your business and don’t break the chain. I mean this literally. I mean, go buy a big wall calendar. I don’t sell them so I’m not getting money from this. Go buy a wall calendar and a big red marker. I mean, if it’s good enough for Seinfeld, making like a million plus dollars an episode, it’s probably good enough for me. Go buy that red marker, and start making a chain of red X’s for whatever that is.

Now for me and note investing, that usually results in either me a) calling banks, or b) reaching out to potential JBE partners. I don’t know what it is for you. As a wholesaler, maybe it’s driving for dollars or whatever the case is, or maybe it’s dialing for dollars. If you’re someone who does rehab, maybe it’s if I haven’t swung a hammer today I’m not doing any work. I don’t know what that is for you and your business. But figure out, breakdown whatever that minute thing is that if you do it every single day and you don’t break the chain, you’re going to have a better year than last year, and then on.

So when it comes to content creation, or using insights in your business, or anything that’s going on, understand that one of the best things that you can do with regards to not breaking the chain is to market every single day, without fail. So whether that’s just a simple post on Facebook, or an email newsletter you sent out, or a video you did of a time lapse on a rehab, or maybe it’s a before and after shot of something that’s happening on a rehab that you’re working. Whatever that is, maybe you’re a wholesaler and you take a picture of your dashboard of your before and after of your jacked up old car and now you’re driving a BMW because you’re wholesaling like crazy. Whatever it is, figure out a way to be able to market every single day. Don’t break that chain of marketing, and your business is going to freaking explode.

All right you guys, I appreciate you checking us out. We’ll catch you next time.

Mike: VirtualStaffNow.com is the leading virtual system provider for real estate and investors. As busy real estate investors, there’s nothing more valuable than our time.
VirtualStaffNow.com, not only helps you find the right virtual real estate virtual system for your business, they train them on an ongoing basis, manage them daily, and make sure they are staying productive and effective. In the event, they are not the right fit or need to be replaced, they handle that for you too. Whether you need 1 or 100 virtual assistants for your team, start the process right now at VirtualStaffNow.com.

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Chase Thompson, ½ of the #1 note investing podcast NoteMBA, is not your father’s note investor. His background in mortgage origination and his passion for marketing and technology make him uniquely qualified to understand our business and help us take it to the next level.

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