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GOLD! Golden Nuggets- Tips, processes, & How To's

OP
OP
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DeletedUser2

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WHEN TO GET A LOGO!

one of the people I mentor, and who is now part of one of our subsidiaries, came to me with the request if he could spend money to get a logo.


my repsonse.

SURE

as soon as you get your first sale.

He was out the door in 40 seconds.


Lets see when he gets his logo...


Z
 

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OP
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DeletedUser2

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WHAT TO DO IF YOU HAD TO START OVER

Someone emailed me recently and asked this question.

I slapped this out as a reply but thought it would make a good post, on starting over :)
Z

If you had to start all over again from day one with very little money in your account but knowing what you know now how would you start? Real estate, online business? Service business? and then roll things over into investments?
I hope to hear back from you soon.

knowing what I know now.

I would do 1 of 2 things.

if real estate, I would get a night job, as a janitor, to pay my own food etc.

Then I would hustle during the day for a big real estate guy, for FREE. for about 2-3 months. then I would go to him and say, Have I proved enough value that I can be included in your next couple of deals as a partner or small owner?
I would spend the next year working my a$$ off for him, and get in on 6-10 deals, with an nice little cash flow, and now have all his contacts. I would then launch my own deals, using his money sources, and donate back to him a 10-15% per deal equity piece for the next 2 deals.

then I would be on more or less equal footing as him in about 1.5 yrs. and have a couple million in real estate. and enough cash flow to not work a job (janitor job would have only lasted 3 months)

Then, I would grow a real estate empire to about 20-50M over the next 5 yrs. as a general partner/manager. I should be up to just under 1M a year in income then. and then I would hire great real estate guys to run the firm. and 1 guy to go to wall st, and raise 100M in lines of credit and equity share. build to 200M in just under 10 yrs. and either retire on the income or turn it into a reit or sell it off.

OR

I would do the online thing.
I would get 10 people to pitch in money, at a high rate of return, Go to all my affiliates, have them make me pages that convert well. rip them for me. and launch a supplement. run straight sale, and trials till I hit 1M a month. I would outsource every thing I could except accounting, run super lean

I would expand into multiple countries, to reduce the risk of FTC backlash, expand into multiple product verticals, all that do well via Direct response, tie down my core processes, and build additional companies around them. (all the companies we use now, would become in house owned. fulfillment, call center, processing/ISO Traffic, affiliate networks) then slowly extract myself out of the US while We grow the company.

eventually I would have a whole ecosystem that supported my core business in a way, that reduced costs, and became a profit center for others who were seeking to use our highly effective services (because I hired expert specialists to run each) then I would take it public in 1 or 2 markets, (us and Canada) so I could create a competitive environment for both companies, as they each sought to soak up market share but flowing up to me as the primary owner of both.

as profit flowed to the company, I would seek to mentor other individuals who I could retain 15-35% of their company, as I mentor them, and become their first investor check. thus growing a steady stable of promising companies, that have learned my lessons, much faster. and as they grow to profitability, taking home mail box money for decades after helping young guns, launch their business.

Oh, wait. we are already doing the 2nd one....
:)

then I would go back to Belize and buy islands again. and build out high end private estates, and sell them fractional ownership style.
:)

Hope this helps.

Z
 

tincho1492

Bronze Contributor
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Aug 7, 2011
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How To Find People Talking About Your Niche

Cool a$$ tip I just learned for finding people ACTIVELY talking about your niche/product/whatev:

1.) Google a word or subject. Like “wantrepreneur”.
2.) Under “More” in Google search bar, select “Discussions”.
3.) Under “search tools” select “past 24 hours”.

BAM. List of everyone talking about wantrepreneurs in last 24 hours.

You can chime into these discussions, see what they’re saying, use their language for your marketing, get ideas. Whatever.

Source: http://www.nevblog.com/cool-a$$-trick-to-find-people-talking-about-your-niche
 

Mike Kavanagh

Silver Contributor
Read Millionaire Fastlane
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I don't know about that, If i had to do everything myself because I didn't want to make someone else do it, i might as well not have employees, the key there is to not make it seem as though you just don't want to do it even though you are capable.
Sorry about not answering this sooner, got lost in the flow of things.
What I meant was do not make anyone does something you wont do yourself.
Like if the bathroom needs to be cleaned at work, don't force someone else to do it because it is below you, just do it yourself unless someone has been hired for that specific position.

Don't do EVERYTHING yourself, just do the stuff you DON'T want to do, unless of course there is someone who is hired specifically for that job.
 

Traction

New Contributor
Oct 13, 2013
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I would get 10 people to pitch in money, at a high rate of return, Go to all my affiliates, have them make me pages that convert well. rip them for me.
Can you suggest a good place to start with this for a complete novice?
 

T14

Contributor
Speedway Pass
Sep 16, 2013
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if real estate, I would get a night job, as a janitor, to pay my own food etc.

Then I would hustle during the day for a big real estate guy, for FREE. for about 2-3 months. then I would go to him and say, Have I proved enough value that I can be included in your next couple of deals as a partner or small owner?
I would spend the next year working my a$$ off for him, and get in on 6-10 deals, with an nice little cash flow, and now have all his contacts. I would then launch my own deals, using his money sources, and donate back to him a 10-15% per deal equity piece for the next 2 deals.

then I would be on more or less equal footing as him in about 1.5 yrs. and have a couple million in real estate. and enough cash flow to not work a job (janitor job would have only lasted 3 months)

Then, I would grow a real estate empire to about 20-50M over the next 5 yrs. as a general partner/manager.
This is great! I did JUST this and it has worked wonders!

I may be just one guy but i can attest to the power of 1.) offering to work for free for someone who you're looking to learn from and 2.) networking to expand your social circle. Both of these provided me with direct contact with a successful rehabber in my local area who took me under his wing and gave me equity in his deals in exchange for working for him. After completing 3 houses with him, I decided I knew enough to take the leap. I finish RE classes next week, will hang my license, have spoken with several private lenders who will lend on my deals and have several fantastic subs to use thanks to another business I recently started.

Just a year ago I was working as a bootcamp instructor, wondering how the hell I was going to make the change towards living the life I wanted. Hah! Amazing what a little action can do.

Zen- 20-50M is a huge number in the residential world. Either my big goals aren't so big or I've just again been reminded that I don't know what I don't know. Would you mind sharing how you would go about accomplishing this?
 
OP
OP
D

DeletedUser2

Guest
Zen- 20-50M is a huge number in the residential world. Either my big goals aren't so big or I've just again been reminded that I don't know what I don't know. Would you mind sharing how you would go about accomplishing this?
do just enough residential to get some cash in your pocket.

then go the multifamily route, or commercial


there are deals are all over.

STOP THINKING SO SMALL. it benefits no one.

Z
 

JudoTom

Contributor
Sep 3, 2013
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Real estate interests me but to be honest I am a complete 'white belt' I mean I am not even sure where to get started on doing basic research on what different ways / methods there are to make money. I would like to get a basic understanding of the steps, options at a high level and then decide if this is something I might want to just research further.

I hope that makes sense. I dont need a 'read this book to start making money' suggestion. I need a suggestion for where I can go just to get acquainted with all the terms, types of deals, steps, work involved, time involved, etc etc...
 

Mike Kavanagh

Silver Contributor
Read Millionaire Fastlane
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@Tom, I'm told bigger pockets forum is a great resource. They have a couple great videos to get yourself started too.

Also there are a couple threads on the forum of people who've done really well in real estate.
 

T14

Contributor
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Sep 16, 2013
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@Tom- Mike is right. Check out biggerpockets. It's 100% focused on RE/REI. Use the search tool and start reading!

@ Zen, Thanks for the response. I'm new to the forum so forgive me if you've already posted about how you've done this before. I recall a post where you explained how you dealt with bulk REOs, if i remember correctly, and were buying/selling 250 houses a month or so. I don't doubt your knowledge and experience, I'm just interested in learning from it :)

You said "then I would be on more or less equal footing as him in about 1.5 yrs. and have a couple million in real estate. and enough cash flow to not work a job (janitor job would have only lasted 3 months)"

If i'm reading this correctly, you'll be taking the cash you make from flips and buying rentals with it? That's how you get enough CF to ditch the night job? We averaged a 15% net profit on our flips. Average ARV is $225K. I anticipate slightly lower margins for my first few flips on my own, but how does one finance multis/commercial investments without 2 years of verifiable income? I take it that a lot of that "few million in RE" would be in the form of debt?

I'm trying to expand my belief of what's possible :) Thanks
 

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OP
OP
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DeletedUser2

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read a little closer


If i'm reading this correctly, you'll be taking the cash you make from flips and buying rentals with it? That's how you get enough CF to ditch the night job? We averaged a 15% net profit on our flips. Average ARV is $225K. I anticipate slightly lower margins for my first few flips on my own, but how does one finance multis/commercial investments without 2 years of verifiable income? I take it that a lot of that "few million in RE" would be in the form of debt?
the commercial game is entirely different than the RE game.


also, don't use your own money, that was indicated in the post as well. or you can go listen to my insider call on how to raise money...


:)
Z
 

TedM

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Anyone who is looking to build a business with licensing products, or bringing new products to market...

Here is a source for ENDLESS amazing products...

Your local industrial design college.

They have so many fantastic ideas, that were projects....that the student/designers never really thought of making into a business - of selling.

Go in, review their old projects, talk to the lecturers...dig in some....offer the school a good % for the IP. And start working.

I'm focused on another project right now, and I have a couple of my own things I want to do after that [i.e., i haven't done this yet] ....but, having worked for a bit with a lecturer at the local design school in my city...I'm sure this is viable.
 

LeungJan

Bronze Contributor
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Zen, for the management links you posted - where would be a good place to start? (it goes 20 pages back)

Thanks
 
OP
OP
D

DeletedUser2

Guest
Go in, review their old projects, talk to the lecturers...dig in some....offer the school a good % for the IP. And start working.
we have some local labs here, Sandia, Kirkland, and los alamos. that have a whole department that tries to get IP out of the lab into the hands of entrepreneurs. all you have to do is show up, ask, and be willing to go raise money for projects. but there is HUGE opportunities, with cutting edge stuff here.

they have a system called TRL or Technology readiness level. that categorizes the level of the tech to take to market. some needs lots more money to make it work, some are ready and off the shelf ready to turn into a product.

but ya, there is never a day where the world has no opportunity to make money.
its all there for the taking.

Z
 

oddball

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Mar 8, 2011
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Austin, TX
WHAT TO DO IF YOU HAD TO START OVER

Someone emailed me recently and asked this question.

I slapped this out as a reply but thought it would make a good post, on starting over :)
Z




knowing what I know now.

I would do 1 of 2 things.

if real estate, I would get a night job, as a janitor, to pay my own food etc.

Then I would hustle during the day for a big real estate guy, for FREE. for about 2-3 months. then I would go to him and say, Have I proved enough value that I can be included in your next couple of deals as a partner or small owner?
I would spend the next year working my a$$ off for him, and get in on 6-10 deals, with an nice little cash flow, and now have all his contacts. I would then launch my own deals, using his money sources, and donate back to him a 10-15% per deal equity piece for the next 2 deals.

then I would be on more or less equal footing as him in about 1.5 yrs. and have a couple million in real estate. and enough cash flow to not work a job (janitor job would have only lasted 3 months)

Then, I would grow a real estate empire to about 20-50M over the next 5 yrs. as a general partner/manager. I should be up to just under 1M a year in income then. and then I would hire great real estate guys to run the firm. and 1 guy to go to wall st, and raise 100M in lines of credit and equity share. build to 200M in just under 10 yrs. and either retire on the income or turn it into a reit or sell it off.


Z
I know we have talked a bit and I definitely plan to take a trip out to meet up but I just got to Austin to look at some apartments and take care of some other stuff, opportunities everywhere here. With a little bit of guidance and a lot of hustle, hopefully I can accomplish this.
 

amp0193

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Summit Attendee
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How To Find People Talking About Your Niche

Cool a$$ tip I just learned for finding people ACTIVELY talking about your niche/product/whatev:

1.) Google a word or subject. Like “wantrepreneurâ€.
2.) Under “More†in Google search bar, select “Discussionsâ€.
3.) Under “search tools†select “past 24 hoursâ€.

BAM. List of everyone talking about wantrepreneurs in last 24 hours.

You can chime into these discussions, see what they’re saying, use their language for your marketing, get ideas. Whatever.

Source: http://www.nevblog.com/cool-a$$-trick-to-find-people-talking-about-your-niche
And sales are going to increase starting... now.
 

oddball

Bronze Contributor
Read Millionaire Fastlane
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uh, thats like asking me what girls you should date....


Depends?

maybe the start would be good for you
Z
I'm not asking the ABC of what to do, but it's nice to have veterans to get advice from here and there.
 

T14

Contributor
Speedway Pass
Sep 16, 2013
56
91
122
the commercial game is entirely different than the RE game.


also, don't use your own money, that was indicated in the post as well. or you can go listen to my insider call on how to raise money...
Zen, thanks again for sharing your knowledge with all of us. I appreciate the hell out of it.

How do I get access to this particular insider call?
 

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Connor

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Zen's rep level from this thread alone should go from "light speed" to "Ludicrous speed." Awesome stuff for people at any level.
 

parkerscott

Silver Contributor
Speedway Pass
Dec 4, 2013
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been a serial entrepreneur since 1991 (when I was 21)
Started and run 14 diff businesses, online and off line. (not all successful)
Bought over 250 apartments in 2.5 yrs starting with no money
Started a company, took it public, built it for 5 yrs. Raised 90M in money for it and other businesses of mine,
Was up to buying over 300 houses a week in 2007,
sold out 2007, Started online business in 2008,
buying up businesses, mostly websites now
hard money lender,
Angel Investor,
Coach for executives,
Do consulting for companies that want to raise money or go public,
Sit on a few boards of directors in a strategic capacity.
Deal Maker, and Strategic Connector.

so.... been around a bit. that's all.
I knew you were a great poster, but this........ I will probably look through every one of your posts now. Congrats on all your achievements.

Edit: Meant to say that you are a great poster. Your content hasnt changed :)
 
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rogen

Bronze Contributor
Speedway Pass
May 27, 2013
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cash is the lowest common denominator. if you only rely on cash to get things done, your just not creative enough :)

Z
Ok, so its all about pitching, but how person like me could start generating income from nothingness? Do I have to pitch rich investors for my ideas? Nobody from America or other country woudnt want to work with me (language barrier, my English is not that good to make a deals) and in Poland people are VERY selfish, If I talked to some rich CEO/Angel Investor he would ask "What's in it for me? Do you have any education? What is your background? Do you have something to offer, so I can see it already right now, or its just your idea?" etc.

And I basically have nothing, I dropped out of school (only High School finished), I have some pennies for domain name, nobody would even listen to me/take me seriously.

zen*******, could you point me to some helpfull articles/names of authors who know more about pitching, or starting from 0 ?

Thank you
 

Bigguns50

Platinum Contributor
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If I talked to some rich CEO/Angel Investor he would ask "What's in it for me? Do you have any education? What is your background? Do you have something to offer, so I can see it already right now, or its just your idea?" etc.
This is pretty much what American investors would ask. It's NOT selfish. You need to THINK like an investor. Imagine someone asking YOU for money. What questions would you ask ?

If you have enough pennies, buy the Insiders membership. Answers to many of your questions are there.

If you need money...don't think "How can I make money ?". Ask, "What do people want ?"...This may be a service like work being done or as one member put on here...having their Christmas tree delivered (no one does this..this is creative). It is hard. You have to work hard. That's ok. It is much easier than being poor.
 
OP
OP
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DeletedUser2

Guest
What's in it for me?
learn to answer this one question, and your are on your way to becoming great at pitching.

its what every ceo, customer, angel investor, boss, girlfriend./boyfriend, ever asks. its the fundamental question in EVERY persons mind.

learn solve that question for them. and your already rich.

:)
Z
 
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