A lot of people spend most of their lives working to make a little bit of money so they'll have something to get them through to retirement.
By now, you should know that The DM isn't like that. I'd rather invest a little time and money right now to build a virtual business that allows me the financial freedom and time freedom to enjoy life right now! (I don't know why someone would want to wait until they are 60 or 70 years old before they go to Venice or Singapore or Maui or anywhere else that is fun and exotic).
And the surprising money-making idea I'm about to share with you is a fast, simple, and free way to make more money as a real estate investor right now. You can use it to find sellers who are desperate to sell their property, and investor-buyers who are desperate to buy, plus some great team members who are willing to go the extra mile for you.
Do you think your real estate investing business would benefit from any of those things? Keep reading to find out what the idea is...
One thing you need to know first
Before I reveal the idea to you, I want to ask you question. And the answer to your question is key to understanding the point of this whole blog.
Think of some of the most valued people in your life. Think of the people who, if they asked, you would drop everything and help: If one of them called up and asked you to help them move, or if one of them had a car breakdown and asked you to pick them up. Who would it be?
(Of course it would be family because you HAVE to help family, right? :) ) But who else would be on that list? Very likely it would be your friends. But there might be others on that list. People you may not necessarily call friends (because you don't hang out with them regularly or call them up on a Friday night to hang out) but the other people on your list would be people who would do the same thing for you.
You would go out of your way to help someone else because they would go out of their way to help you. Don't misunderstand me: It's not that you necessarily EXPECT them to do the same thing for you, but rather that they are WILLING to do it if and when the opportunity arises.
Here's how it applies to real estate investing (and how this little trick can make you more money)
When you help someone because they are likely to help you (and vice versa – when someone helps you because you are likely to help them), the kind act is done out of something I call "Loverage".
That's when you gain something from a relationship (when you "leverage" a relationship) with a little kindness (or "love"). It's when you do something good for someone else because they are likely to do something good for you.
The DM says: "Lend a helping hand. Give a little Loverage. Be generous."
Here are some examples of Loverage:
- Loverage is when a Real Estate Agent sends you real estate investors who might want to do a wholesale deal because the Agent knows you'll send them sellers who need help selling a house but who aren't willing to sell their house for a price that you can bring to your investors.
- Loverage is when a contractor will do a quick inspection of a house and tell you how much it would cost to repair because they know that you might hire them to fix the house if it's a home you decide to rehab, or you might recommend their name to an investor-buyer who you wholesale the deal to.
- Loverage is when a bird dog comes to you first with possible wholesale deals because they know that you are more likely to do the deal and give them the best finder's fee.
So Loverage is when someone is willing to go the extra mile for you because you are willing to go the extra mile for them. It’s about giving back instead of just what’s in it for me.
And it can help to make you more money because Loverage gives you an advantage over every other real estate investor out there – it positions you as the generous "nice guy" who not only wants to win but wants everyone else to win too. (Everyone loves to work with people like that!)
Loverage helps you to get more deals (and better deals!) and Loverage helps you get more investor-buyers (and more responsive ones!) so you can wholesale more deals in a shorter time. Loverage is an instant trust-builder and deal-closer. Loverages ensures that nice guys finish first!
Here's how to add a little Loverage to your real estate investing business
Here are some tips to add a little Loverage to your real estate investing business:
- Make the first move. Everyone is skeptical, especially of people who say they are going to do something nice for you. Surprise them all by following through.
- Start with gratitude. Readily recognize when someone else is good to you. It's not just about generosity and reciprocation, it's also about gratitude. (You'll be surprised how far a "thank you" will go!)
- Get creative. People are motivated in different ways. Maybe a bird dog doesn't want a bigger finder's fee... maybe they want you to take a few minutes to mentor them through their first deal. Loverage doesn't necessarily have to cost you money.
- Be consistent. People like to work with those who operate in a familiar, predictable pattern. If you do something one time, do it the next time, too. This is an underlying value of using the autoresponder series I share about all the time... :)
Loverage is a fast and easy way to build your real estate investing business. It's all about helping someone else because you know they'd help you.
Your friend and mentor,
Mark Evans DM,DN
PS, Don't stop with Loverage! As your real estate investing business grows, take time to pay it forward. That's exactly what I'm did in September when I gave a furnished house away to a homeless veteran. It was an amazing, powerful event that changed a lot of lives and truly showed the power of Loverage. If you haven't seen the videos of the event, put your info in the form below and I'll send you the details.