Before you can act on a good investment deal, you need two things ready: finance arranged with pre-approvals and liquidity in place, and a team with actual investing experience, not just credentials. Without both, you'll miss opportunities when they come.
So when I talk about executing on the deal, there's 2 things we've got to get prepared for. Number one is we've got to get finance ready, because if you're not finance ready, I mean, if you don't have your lending in check, if you don't have your pre-approvals in place, if you aren't liquid, then great deals might pop up that are going to perfectly suit your strategy, but quite frankly, you're just not ready to take advantage of it. So we've got to get ourselves finance ready and structured the right way. And there's another— the second part of executing on the deal is that you've got to have your team in place. When I talk about team, qualifications don't mean squat to me, right? Just because someone's a mortgage broker or they're a financial planner or they're an accountant doesn't mean they have any idea how to invest. And in actual fact, the vast majority of all these people do not invest themselves and have no idea what they're talking about. So you've got to get your team around you so that when you've got the right deal on the table, you're finance ready and you're ready to actually execute on the deal and be able to install it in the portfolio.
