Why the 30 Day Real Estate Deal Mantra????

[Ariq Sharif]

Hello PB family.  I see and hear this all the time "30 days to your first real estate deal" and following that is some kind of projected figure you could make 5, 10, 20 thousand dollars, no cash, no credit...etc.  (We know it's basically wholesaling, maybe lease options it could be a few things.. but none the less)

I understand it depends on the individuals determination, drive, persistence, a plan and taking massive action.  But does this 30 day mantra kind of set up new investors for failure if it doesn't happen in 30 days? Does this time frame just setup an up-sell opportunity to say, you need personal training or a boot-camp to be successful? Why the 30 day mantra?

To the BiggerPockets Family I have 2 questions.  

1.  If you wanted to make 30 days a realistic goal for a new investor to complete their 1st investor opportunity, what would be your outline/plan for them to accomplish that goal?

2.  Based on experience what would be a more realistic/consistent time frame; if you wanted to maximize the success and keep new investors motivated and enthusiastic.

[Account Closed]

I haven't read this "30-day mantra" you are talking about, and from your post, I wonder how I've missed it!  Regardless, I have some thoughts that may help you.

The point is that you need to set goals for yourself.  Real estate investing is a business.  Like any business (or anything worthwhile for that matter) you need to set goals.  Nothing happens without deadlines.

If you've ever read anything about goal setting, you probably have come across the acronym SMART.  The M stands for measurable.  The R stands for realistic.  The T stands for time specific.

If you think 30-days is unrealistic for you, pick a "T" that you think is "R", but pick one.  You can't hit a target you don't have.

As to your question about should you invest in training, from personal experience, I would not be where I am today if not for the mentoring and coaching I have purchased over the years.  

I don't know what training is right for you.  But what I can tell you is that any good mentoring or coaching program WILL give you a specific game plan, that if you follow it, you will get paid.  It won't just tell you that you need to find deals (duh).  It will tell you specifically HOW and where to find deals.  It will tell you how to make offers.  It will provide paperwork for you to use.  It will coach you on how to properly use that paperwork.  Those are just a few examples. 

The point is if you are serious about this business, invest in yourself.  You could probably fool around and figure stuff out from postings here on BP to do a deal or two...maybe even successfully.  Even a blind squirrel finds an acorn now and then.  But if you are serious about making this business more than a hobby, invest in the right training for you.  

The operative word there is right.  The S in SMART stands for specific.  Determine specifically the type of investor you want to be...wholesaler, fix-and-flip, fix-and-rent, turnkey cash flow investor, passive, for examples.  I read too many times here on BP about people who want to start here and go to there and end up somewhere else.  Pick one that you think is right for you and commit to it.  One is all you need.  Commit to being the best at it.

Personally, I decided on wholesaling when I got started in this business over 10 years ago.  If I were younger, I might have picked something else.  Wholesaling made sense for me back then (and still does today).  I invested in coaching and training.  I have done 100's of deals over the years and am now an on-site mentor for the outfit that taught me. 

When you decide the kind of investor you want to be, pick an outfit that matches to train you.