REI Coach – revisited. Post 101

Coach Mitch’s REFLECTIONS

 

Seeking the secrete handshake

Every potential Coaching student grills me. I understand this. I do the same when I purchase anything new.

They are trying to make sure that my Real Estate Investing “System” will be the answer to their dreams. It is as if the knowledge of “what to do” leads directly and inevitably to the achievement of wealth. This is not the case, but we all fall into the trap of believing that, “If only I knew the secret handshake, then all would be right with the world.”

Building wealth is no accident

You can be successful at anything. It takes determination. That is the missing ingredient. A mentor can Coach you, but you must do the work. If you will not do the work then nothing gets accomplished except that you did not dash your hopes that “somehow” you will be wealthy.

The Fear of Failure

What does this mean? This is the fear that we will fail at the chosen task. This “fear” is so overwhelming that it constricts us from doing anything at all. We become like deer looking headlights.

The rational is simple

We say to ourselves, “If I fail at this, then I am doomed, with no hope of ever succeeding. But, if I don’t do it (the task), then at least I can live to do something else, someday, and have the possibility of being successful.” Then we are enveloped by a warm feeling, allowing US to feel secure, knowing that when we find the “right” System, we will be successful. Our defense mechanisms now kick in and do not let us associate our failure at not doing the current task with the probability of our not doing a similarly important task in the future. And so we go, from one failure to another, without realizing why we aren’t moving forward and certainly without blaming ourselves.

It takes courage

Most of US are not very introspective. If we were, then we would realize that the possibility to do most anything is within our reach, but we just don’t want to expend the effort. The pioneering spirit which made this country great has left the society for the most part and now we are lazy. This societal laziness has morphed into a proliferation of “get rich quick schemes,” like the lottery.

It takes understanding

When a student chooses to hire me as a Coach, I know that the work is just beginning. Ten hours of effort per week, or less, is all that is needed to make a success of this program. I adjust my efforts to fit the personality of each student. My experience allows each student to progress in the manner that takes advantage of their particular credentials, mannerisms, yearnings, time schedule, likes, dislikes, etc. As you can see, choosing how to implement my System takes some insight and talent.

We all have talents

That’s plural because we all have many, many talents. The world has no end to the number of people who have not achieved even though they have that “talent.” Our desire to succeed is the determining factor in whether we will move forward.

Reality check

Probably the most desirable talent is to understand the reality of a situation; because then we can determine what to try in order to accomplish our goal.

For instance, would you / should you become a car mechanic if you were not mechanically inclined? Would you / should you become an opera singer if you did not have the specific kind of voice needed for that profession, or worse, you were not musically inclined?

Obvious? – not really

We kid ourselves all the time – about everything. We say to ourselves, “It doesn’t matter if I’m being unrealistic, because I want it (whatever ‘it’ is).” In this way, we are like children. We want, and want, and want some more!

My job

As a Coach, my job is to take the talents that a student possesses and mold them so that he is successful as a Real Estate Investor. There is a great deal more involved than just supplying a System and saying, “Read Chapter 1 – 4 and we will have a test on Thursday.”

I cannot infuse you with natural mechanical ability, but I can show you how to be mechanical. You won’t be a world class mechanic but you will be credible and much better than if you were to try by yourself. I cannot eliminate your natural shyness, but I am good at showing how to accomplish specific tasks which result in successful interaction with government officials and sellers.

Example

In the last post (100) I told of a student who holds the record for controlling the most property and using only $1. By using Coach Mitch’s “famous $1 Option.”. Option he optioned a property worth $1.6MM. That’s pretty good.

However, prior to this transaction, the student had gone to collect some needed information. He called me up, very upset, and said that the government official turned his request down. I asked, “What was the question you asked, the exact words? What was your demeanor? What was her answer and describe her body language?”

The student answered as best he could. I pressed his memory. I know that the seller (government official) will always tell us how to accomplish the deal – if we only know how to ask properly.

I explained what I wanted the student to do and to say, in detail. I said, “You should walk up to her station in a confident manner, standing tall with your shoulders back. You should have a big smile on your face and you should be looking her right in the eye the entire time. Don’t shy away. I want you to engage her for a minute of chit-chat and you should complement her in a non-obvious way. Then, ask for the information you need by saying these exact words. Let’s practice.”

We did practice and the next day the student calls me and says, “I got it. I did exactly what you said and it worked – just like you said it would.”

The student made up a list of properties in which he was interested. I spent several days with the student, practicing exactly what he would say and how he would portray his body language, when speaking to the owners. He was most interested in a particular restaurant that was $40K delinquent in taxes.

A few days later the student calls me up, very excited. He had just finished speaking to the owner of the restaurant and he has “a signed and notarized Option for $1.3MM and the property is worth $1.6MM. I could make $300K in my very first deal.” WoW!

Mr. Shy or SUPERMAN?

This fellow, just a few days ago, was shy and introverted. He was a researcher and a math whiz, both thought of as boring. He wears glasses and is not particularly imposing. Yet, because of his determination to succeed, he hired a Coach who could and did make him come out of himself and, after practice, he did what we all crave doing, he took action and he was successful.

Like a franchise

For those who think that they can do Real Estate Investing by themselves, they are correct, they can. They are also correct when believing that they can learn REI more easily and safely when using the services of a Coach.

Think of hiring a REI Coach as if you were purchasing a franchise. When you pay for a franchise, what do you get for your $25,000 – $1,000,000? After getting a few weeks of training at Hamburger U, you get sent home with a rule book and a telephone Help line. Anytime you call HQ with a problem, they give an opinion, and you are also told, “The answer is in the Rule Book.” Yet, 95% of franchise operations are successful. There is something credible in following a proven system.

The good part is that Coach Mitch’s “Ridiculously Simple System…” does not cost anything close to what you would pay for a franchise. You get a proven system for a fraction of the cost. One transaction pays for the Coaching service. What a deal!

See Coach Mitch’s “Ridiculously Simple System…” for details.
See you at the top,