How do I start my real estate business?

All right, welcome to this week's Q&A Thursday. I want to talk to you about how to start your real estate business because here we are about to enter a brand new year. And for some of you, if you've been kind of dabbling around in real estate, maybe this is a reset button. I don't know. Or maybe you're in corporate, we can help you escape with this plan. Either way, I think it's great timing to share this with you. And it's gonna be short and sweet. Because really the hard part or the longer part is gonna be you taking action. But I'm gonna give you an opportunity to chat with us so we can help you take action. So 3 things for you. I'm gonna, I'm gonna do some subsets for you here. This is how you start your successful real estate business for '23 or hit restart. Number 1, pick a niche you can passionately get behind. Now I'm biased because there's never been a better time in my 31+ years than now for creative real estate. That's a different video why, and you can learn that at our events. But there's never been a better time, take my word for it. Second— or actually, more on this one. When I say passionately get behind, I don't know what drives you. I know the people that are coming in our community, many of them will say, yeah, you know what I love about this? Or, you know why I joined you? 2 things come up a lot: I love helping people, and I'm not competing with other real estate investors who are lowballing houses. I love helping people. Secondly, I love the community/family aspect of what you guys go— have going on at Wicked Smart. Those things come up all the time. So when I say what can you get behind, weigh all that in. Second, pick a coach or a mentor or a group who have been through at least 2 market cycles. At least 2. There are way too many people teaching real estate right now. Hate to say it. That have been in the business post-crash. Crazily, there's some that have been in the business only post-COVID. That is crazy. You're going to get yourself in trouble, or you're going to be naked when the market pivots like it is right now, and you go, well, who do I turn to? I can't turn to my coach or mentor. They've never been through this. They've only seen low interest rates, for example. So find someone who's been through market cycles. Ideally, someone who's been through market cycles and some personal challenges and have come out winning. Right? That's a nice recipe for you to have success with and never have to turn and look for another coach. Third, put the blinders on for 3 to 7 years. 3 to 7 years. And imagine what the 7th year could look like. I screamed for a long time, you've probably seen my material, saying you need to put blinders on for 36 months because there's a lot of shiny objects in real estate, a lot of cool niches in real estate. But if you put the blinders on for 3 years, And your coach or mentor can constantly move with you, interact with you, not just teach you once and leave you. If you can do that, you'll have a great experience after 3 years. And as Brian Tracy said when he was on my podcast, he believes it's closer to 7 for someone to have breakthrough success. I agree with that too. So I said 3 to 7. That's your gen— your general rule of thumb. And now I'll talk about what you have to set up, especially if you're entering the creative real estate space. This is not difficult. You need a lead generation source. We have that on our resource section of our website, smartrealestatecoach.com/resources. There you go. So now you know who you're going to call or who your virtual assistant's going to call. You need a cell phone, sure, but you don't— once you start having callbacks, I'd like you to have a virtual phone system of some sort so you're not taking calls on your cell phone. And third, you're gonna need a website. I remember starting and I was broke and I said, look, I need these things and I need a website because my intention is to get business. It's not, well, I'll get a couple leads and I'll try and if it works then I'll get a website. No, all in, guys. Committed and serious. It's going to work for you if you get the right formula above that I just said. So get the website and we happen to have them if you're in our community. If you're not and you're not in our niche, then find out what it is in that niche that's going to work for you. And the last one is Make sure you have the proper entity structuring. Got a call yesterday from one of our students. Hey, I'm about to sign a deal and I didn't set up my entity yet. Is it okay to put it in my name? I said, no, not in my opinion. Why didn't you set one up? Well, I was waiting until I got a deal. Remember what I said, go at this assumptive that you're doing this to win. You won't fail if you do the formula above. Get the lead gen, get the phone system, get the website, and get the entity structured properly, and away you go. Now later, after you start moving forward in the process, especially with us in the Wicked Smart community, we're going to do what we call stacking. It's different pace and different direction for everyone. We're going to look at your business with the benefit of hindsight and experience and go, hmm, okay, here's what's next for you. Here's what's next for you. And we're going to access our dream team and bring them to the table for you. And we're going to constantly stack that. The stacking won't end. It'll go for several years depending on how far you want to take this. And last but not least, immerse yourself in the Wicked Smart community if it's this niche for the support that not you'd like to have that I'm telling you you're going to need in any niche in real estate. You need to be in a community that you can say, I had this curveball, who can help me? I had this script thrown at me, how do I do that better next time? You need to be in a community that you can get that instantly. And when you're in our community, you put a question out before I might even see it, you might have a dozen answers or more, and they're great answers from people In the field. This little thing that we do creates the biggest gap when it's missing in any other program because they sell you something because they're good marketers, and then you go out and you try to do it, and you can fumble or you can get— actually get yourself in trouble if you don't have that instant community and if you don't have all those steps in place that I just told you. So I'd like to give you somewhere to go for all this, right? A couple things I want to be able to talk to— that was real short. I want to be able to talk to you on a strategy call or someone from my team will, our strategy expert, just go to smartrealestatecoach.com/action. Free call, no strings attached. I wanna help you launch 2023. Next, if you're launching 2023 now, like in this week, well, what would be cool is we get you rolling and then you show up 3 months from now, March 29th, 30th, and 31st at our Wicked Smart Summit live event. You will be blown away, I promise you. I wanna give you 50% off to make that a no-brainer for ya. Go to smartrealestatecoach.com/50off. smartrealestatecoach.com/50off. And we'll see you at the Wicked Smart Summit. You are gonna be blown away. Thank you.