28 Aug How to Make Money in Real Estate Investing: Grow Your Income 2-10x Through Real Estate in Five Steps
Are you interested in learning how to make money in real estate investing? What do you want to achieve in business? In fact, why did you start your business in the first place? And, more importantly, why did you choose the real estate industry? If you’re like everyone else, it’s because you wanted to grow your income. You still do.
Maybe you’d like to supplement or even replace what you’re currently making.
You can do both.
In fact, if you’re eager to give yourself a raise this year, I’ll show you how.
I’ll give you a short blueprint to follow that will help you grow your income anywhere between two to ten times its current value.
So, are you ready to see the steps that will enable you to make a big jump?
The Five Steps to Grow Your Income
Step #1 – Increase the Value That You Give
You can 2x or 10x your income as soon as you increase the value of what you offer to your clients, sellers, and buyers.
But remember that offering more value also implies being able to deliver, not making empty promises.
For example, as a real estate investor, this could mean providing more options for sellers. Perhaps it means you can pivot in many directions:
- Owner financing
- Subject to
- Owner financing with private notes
- Sandwich lease
Maybe you’re dealing with real estate buyers. So, you can do a deal and then hit them with a Shock and Awe package with some extra services or gifts. The list could go on.
The main takeaway is this:
Think about who you’re serving. Then, ask yourself what you could do to increase the value that you’re already giving them and how you could deliver that value in a way that no one else can.
When you manage to do that to whoever you’ll deal with, you’ll automatically grow your income.
Step #2 – Engage in Constant Learning to Grow Your Income
Constantly adding value is vital if you want to afford and justify giving yourself a raise. But how do you do that?
You can’t… Unless you’re constantly learning.
If you can consistently up your game as far as education goes, you’ll expand your knowledge.
It can be time-consuming, sometimes painful, and even expensive. But the investment is worth it if it will help you 2x to 10x your income.
And don’t think you have to cram through courses to make it happen. Sometimes, you don’t need to. For example, maybe you can find and align your business with an expert.
Let’s say you want to provide legal services to your clients. That’s added value. So, do you have to become a lawyer?
You can research and find an expert attorney who can benefit your clients with his credibility and authority.
Step #3 – Determine When Faster and More is Better – And Otherwise
It’s worth noting that faster or more is generally better when it comes to growing your income. But there’s also a caveat – it does not apply in every scenario.
For instance, you may not want to rush things as you progress and get to the $2 million threshold. The situation’s change and you’ll need to come up with a new strategy that will allow you to make more money in the shortest time possible and with less effort.
But if you’re still working your way to your first $1 million in your real estate investing business, faster and more is better. Think about it like this.
Sending out more emails and doing more follow-ups and prospecting will help you get more leads, and eventually more conversions. If you want to get to that million quicker and exceed it, you have to power through.
The hustle makes all the difference – it will make you your first million.
However, you also need to think about your next step and the one after that at the same time.
So that when you get to that next level – in this case, when you reach the $1 million mark and are now working your way to $2 million – you don’t have to make a major pivot to make it happen.
After all, you’ve planned it out. And you just need to do more of what’s working in your real estate business and do less of what’s not.
Step #4 – Script Out Your Day, Week, Month, Etc.
In learning how to make money in real estate investing, it pays dividends to have a clear plan moving forward. Whether that’s for each day, week, month, quarter, or year – it doesn’t matter.
In fact, script out everything!
When you don’t have a clear blueprint, you end up going back and wasting time fixing things.
But if you have clarity and detailed scripts for every step along the way, that’ll pull you forward and help you grow your income.
Step #5 – Set Up Your Day to Win by Playing Offense, Not Defense
Believe it or not, this sports metaphor works perfectly here.
Think of being on defense as checking your email or texts first thing in the morning. What do you think happens if you do that?
Your mindset becomes defensive. You’re flooded with tons of things (many super minor) that you may have to fix. Naturally, your entire focus goes towards reacting from a defensive stance. That can end up affecting how you behave and what you do for the rest of the day.
Now, let’s talk about the opposite. What does offense mean?
When you’re on offense, you’re in a routine.
So, develop and stick to a morning schedule. Maybe you can try meditation, yoga, working out – anything to get your mind off the business as soon as you wake up.
You can even go as far as creating a journal.
To put yourself in a different, positive mindset, start setting up your day to win by listing the things you’re grateful for. Write down three wins you can think of from your previous day. Find powerful and positive things (whether personal or in your business) from the day before.
The final step to setting up your day to win is this – write down three wins you want for today. Now, you know what you have to do and how to go after it. Focus on what you want and that’s what you’ll attract.
That’s the difference between playing offense versus defense, in life and in business. And that’s how you set up your day so you can crush it.
Are You Ready to Make Money in Real Estate Investing?
If you’ve read this far, one thing is certain – you’re eager to grow your income exponentially. You’re tingling for that raise, which means you should be all set to start doing the things that can get you your 2x to 10x income target.
It may seem like a lot to do, but all it takes is a bit of discipline and patience.
Maybe you’re already doing some of the things on this list. And all you need is to fill in some gaps before the final push forward.