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Category Archives: Travis Howard

Overwhelmed? Help for New Investors

overwhelmed
Many times as a new investor you feel that you have been fed information through a fire hose. As trainers and instructors we have to show you how to eat this gigantic investing elephant one bite at a time. Rich Dad education is here to show you how to set up successful processes, reduce stress, make more money, and breathe. We have all been there; know you are not alone.

Some of us deal with this stress better than others and some are better at hiding it. Delegation and having the right power team are the most important parts of becoming and staying a successful entrepreneur. The key to success is being able to delegate as many things as possible to others, especially those tasks that we hate or are just horrible at doing. Assembling your power team is critical to your success. Here are some places to start.

• The Rich dad Education team can help you answer many of the questions that you still have. There are:

Elite Trainers
Coaches
Mentors
Other students
For more information visit http://www.richdadeducation.com

• REIA (Real Estate Investment Association): If you haven’t been to your local REIA yet or you are not sure where to find a list of available REIA’s start at http://www.Nationalreia.com.

Look for the “Vendors” section on your local REIA webpage. If they don’t have a vendor section then you will need to contact someone in the REIA and ask them, “If you were me and needed a ____________ to help on one of your properties who would you contact?”

Ask about contractors, locksmiths, mortgage brokers, hard/private money lenders, attorney’s, CPA’s and many more. After finding this list you will want to start contacting them and establishing a mutually beneficial relationship.

• Other Investors- Adding investors to your power team is very important. Start by looking at: REIA’s, craigslist, meet up groups, online meet up groups, Facebook, cash buyers list, etc. You need to deal with other investors that are doing this business on a daily basis. When you contact them, make sure you ask where they are buying and what their buying criteria is. Also find out what exit strategy they use most for their business. For example: are they a wholesaler, rehabber or landlord. Make sure that you network with other Rich Dad Education students as well.

• Family and Friends: If you are thinking about hiring a family or friend as an employee, make sure you are also able to fire them. Many times family and friends can become great birddogs.

• Little Hacks: When you find a great power team member they will be able to help you build an entire team. Anytime you speak to someone you should ask for a referral. It may take 20 people to finally find that one that fits on your team. You have to be patient and test everyone to make sure they fit your business.

Know that you will be firing ¼ to 1/3 of your power team members every year. Some people will drop the ball over and over again and you cannot be afraid of firing them. This doesn’t mean burn bridges, there is always a good way of letting people go.

• Jobs for your power team:

• Drive for Dollars (Driving in your area and collecting boarded and vacant houses.)
• Research Properties
• Walk through Properties
• Place craigslist ads

For more information on similar topics check out the following blogs: http://blog.richdadeducation.com/2013/12/14/networking-for-an-event
http://blog.richdadeducation.com/2013/11/27/interviewing-potential-partners
http://blog.richdadeducation.com/2013/08/13/real-estate-deals

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