Here is the second part of today’s double-header blog post. This one is the one I am the most excited about writing because I know it will be the thing that will propel my business to a new level this year. Not just that, it has already changed my mindset and how I operate within my business, greatly increasing efficiency and maximizing profit. What is that thing? A mastermind group called 7 Figure Flipping!
I want to start this post by addressing the naysayers and differentiating between a mastermind group and a guru’s seminar. For those of you in the real estate investing industry, you know exactly what I am talking about when I mention the term Guru. For those who aren’t, my friend Beka said it best by giving this link to a Bigger Pockets post. Basically, these are guys who start with a free seminar, reel you in and then there are paid seminars, then a higher cost weekend, followed by the big payday to the Guru. In the end, you are standing there wondering what you got for your $100k investment other than some real estate investing basics. I am going to squash that right now, this program is a paid program and it did cost quite a bit for me to join it. I have always been against paying for my real estate education and have never bought into the gurus or the fact that I need to pay to figure this game out. So, this was a difficult decision for me when I started contemplating writing a check to attend. But if you keep reading you will see how happy I am that I did.
I see the reason for the entry fee as two fold. One, it is a barrier to entry for those who will show up and never actually do anything. For some the entry fee was no problem based on their volume but for others, it was a LOT of money and they had to find a creative way to come up with it. This almost scared me away from applying but in the end, I just jumped. Second, it gives the two highly successful investors a reason to take valuable time away from their business to facilitate this group and spend a lot of time with us along the way this year. Please notice how I used the word “facilitate” here. They weren’t teaching, they weren’t selling; they were motivating and driving the discussions where they needed to go. They were facilitating learning, motivation, and direction!
The two investors facilitating this mastermind group are Justin Williams and Andy McFarland. If you are a real estate investor you have likely heard these names before and know the impressive things they are accomplishing. If you don’t, Justin runs a highly successful house flipping business out of Southern California and has a podcast called House Flipping HQ. You can check him out here and his podcast on iTunes. Andy runs an incredible wholesaling business out of Utah and has recently moved to a few other locations to take his business to the next level. You can check him out here or his youtube channel called I Love Real Estate Stories. Both of these guys are running multi million dollar real estate investing businesses built around systems and processes that allow them to focus on the big picture while their team runs the day to day. That is what attracted me to them specifically, the system! In order to scale to the level I want to be with a full time job, I need to implement similar systems and processes to build my business allowing me to focus on my full time position. This has been the hardest thing for me in the past. If I were to take myself out of my business before, nothing would happen. This 3 day meeting wasn’t about teaching real estate investing, it wasn’t about pitching a new idea or get rich quick scheme, and it certainly wasn’t about an upsell for the next seminar.
What was it then?
It was essentially a board meeting with the CEOs of nearly 20 of the up and coming real estate investing monsters that you will be seeing very soon if you haven’t already. They ranged from California to Florida to New York and businesses including wholesaling, flipping, lending, and some combination of all. It was a room full of brilliant real estate investors opening up the doors to their businesses and releasing all of the secrets that have helped them to become so successful up to this point. We each presented what we have been doing and where we want to go in the future with everyone having the same goal, create a 7 figure per year real estate business. Some will reach that goal this year and some will attain that goal a few years down the road. However, I have no doubt that everyone in that room will attain that goal at some point soon and they will do so with the help of everyone else in that room. The doors were locked, the NDAs were signed, and the secret sauce was flowing. The amount of knowledge and experience that I attained in those 3 days from the other investors in the room was invaluable. I GUARNATEE that in the next year I will make 10x what I spent on this program just from being around these investors. Our businesses were stripped down and rebuilt to be machines that will produce results, and big results.
You won’t hear specifics of what we discussed on my posts and you won’t hear what everyone else is doing or how they are implementing their processes and procedures. But you will watch my business become a well-oiled real estate investing machine this year and the vision and clarity that I have will be contagious. It’s time to get on board this train because the next stop is going to be a 7 figure a year business and I won’t rest until it is there. I expect big things this year and I am excited to share them with you all.
I would love to hear some feedback about what all of you think about mastermind groups, positive or negative. I am a firm believer in the law of association and that you are the average of the 5 people you spend the most time with. Like I said in the last post about my other mastermind group, the 20+ people in that room were so passionate about what they do and so driven, I would be lucky to be the average of all of them. I can’t wait for the next meeting and I am excited for what’s to come.