What can surfing teach you about real estate investing? More than you may think! You're about to discover the similarities between successfully catching a wave and successfully investing in real estate; from getting started, to positioning, to timing, to selection and even to balance. You'll transition back and forth between the classroom and on the ocean for an educational and entertaining experience. Without further ado, here is your real estate surfing lesson:
#1. Getting Started
This can be a real challenge for surfers! Getting started in surfing is getting past the break. This is also true for real estate. You must learn the little things in order to get to the point of doing your first deal or surfing your first wave.
#2. Positioning
You must position yourself in the right location to catch the wave. If you are too far back you will not catch the wave, but if you are too far back you can fall. Positioning is also very important in real estate investing. You want to position yourself to be the one in control. Be the one with direct contact with the seller. No real estate agent or wholesaler in front of you, blocking you from taking control of the deal.
#3. Timing
Even if you have the best position, you must time it right. If it is a bigger wave, you often have to paddle harder. In real estate investing, timing is just as critical. If a property is about to go into foreclosure and is a few days away from an auction date, this is bad timing because there is not enough time to make the deal happen. If the deal is on the MLS it is also bad timing, because it means another agent has gotten to the deal before you. Once it comes off the MLS that can be good timing. It won't be a bad deal forever. Just make sure to follow up with deals, as the timing may become right for you.
#4. Deal Selection
You must select the right wave/the right deal. Some waves/deals may be dangerous for you and you will become caught up in them with no way out. Sometimes with selection, you might have worked hard on all the previous steps but the deal will just not be profitable. This happens with waves, sometimes the wave is just not a good one to try to ride.
#5. Balance
In surfing this is literal, if you do not keep your balance you will not be able to finish off that wave. Even if you do have the right position, timing, and selection, you then have to handle the deal wisely from start to finish in order to close, because if you don’t you will fail.
So how do you get to the point where you are successfully riding a wave/getting a deal?
Through enough experiences, enough waves coming in over your head, you will eventually figure it out.
But there is a better way!
Get a mentor, get someone to show you how to surf, and what shortcuts you can take to avoid all of the mistakes and failures. Learn from someone who has learned all of these lessons the hard way, so that you do not have to. Join the Freedom Mentor Apprentice Program to begin your real estate journey!
Seemingly a great analogy, even though I’ve never tried surfing. I have been selling timeshare on and off for the last 20 yrs, and do well with it, even though the industry is sharply declining…I’m ready to enter a real estate career!
How much does it to cost to hire you as my mentor.
Consider making application to see if this is a fit for you.
I am 73 years old and I would like to invest in Portland Oregon. I want to help my son become financially stable. He is an excellent journeyman carpenter. The changes he has made in his life are truly amazing. He was homeless for 10 years and deeply into drugs. He got off drugs and really turned his life. I want to teach him to invest in real estate but I have to teach myself first. Bottom line – we need a mentor.
Consider making application to become apprentices in our program!
I am very happy to be accepted by your team and I do not doubt the good results whenever I will follow your tactics.
Excellent video Mr. Phil as always you teach the right way, you always give the best advice & tips thanks david.
I want to see videos
I started back watching your video’s and has brought me out of the mind set of can’t to yes I can!
Thanks to your new 2017 video.
I thank so much for your video training.
Thank you for your valuable shadings. . .
I have been trying to get into flipping and buy and holds. Unfortunately A few people I spoke in regards to loans
Told they couldn’t lend to me because I have no experience. They told me to partner up with someone? I don’t know anyone in the business, I am a licensed Realtor in Texas and California. What advice can you give me?
I been laid off from my Full/time job since Oct. and been trying to find a way in Real Estate.
Talk to some people who actually know what they are talking about…or take my free course Creative Real Estate Investing and Flipping Houses
Do you take complete beginners?
thank you, Sami
Absolutely!
I am a perfect example of your teachings of surfing lessons 1-5.
From 2005-2011 I meet a mentor (predator) took me under her wings,I was a newbie with great credit and some money. And the rest as they say “is history”. She was you “property Mgr” because she knew real estate way better than I did, I trusted her, especially when I saw she was using my money & credit to purchase houses. for a time money was coming in that lasted for about two years, then there were phone calls, court documents and investors visiting the properties. Shame to say I use my daughters college money and everything else to stay above water… Sad to say I eventuality we was homeless, loss my car everything. For two years I was in a maze not knowing what to do and how to start to do it again. Can’t get nothing because I had too foreclose on four properties, short sale 6. Boy I feel like a fool!!! Sometimes when my kids look at me I feel they see a complete IDIOT!!! ….. Speak about light at the end of the tunnel, my friend is allowing me to stay in her fathers house for two months, and it’s because of that I saw you Phil on the internet!! I subscribe because its FREE!! TY I am learning your teachings….. I Would like to become self efficient again.. Any advice? for a person with no credit and zero money.
Start birddogging. You can put all that you have learned to profitable use. Check this out: Starting on a Shoestring
I am very please to have selected one of your ads a couple of months ago. Your videos are excellent, your teachings simple yet effective. Right-brain teachings mixed with the left-brain tactics! Excellent work in all that you do, Keep going!
I would like to learn more about your apprenticeship program.
One final note, I do have a mentor and all your facts are so true about the importance of having a mentor, this is why I want to know more about your apprentice program.
Thank you
Awesome training dude
Thanks Bro
Thank you Phil for this Video and training. Please do continue with your vision you make the differents from all the others. God Bless you and all you do .
Hi Phil,
I am a new Immigrant to US. I will be permanently moving in end August. I have a lot of experience in Business Management and Finance. Will have some cash funds available as my life time savings. Have no liabilities & No loans / Mortgages to pay.I have been watching your videos and have read your book on Real Estate Investing. Do You think, I could be successful in Real Estate Investing ? What you recommend how should I start ? Your guidance will give me confidence.
You could be but you definitely want to tread lightly and start slow. One step at a time. Keep in mind that there are plenty of sharks swimming in the real estate business looking to devour newbies with money.
Who trained you? I have met you at seminars and I know that you went to Vanderbilt. There is so much as far as information in real estate it is hard to choose. Do you believe in tax overages and can people really get others their money?
A mentor from Nashville trained me. He is a very private person that asks me to respectfully keep his name out of the lime light. He never went to college. My mentor’s mentor was Ted Welch. Look him up sometime. Ted was a legend in Nashville real estate investing.
As for tax overrages…that’s a very specialized niche that works better in states besides Tennessee. And like anything, there is already a ton of competition so it takes a ton of very specialized knowledge to master it.
I have been watching your videos for the last few days and I think I have run out of Videos. I watched all the Youtube ones I could find, I came to the website, I went to the Udemy and watched all those. What would be my next best step? Even after watching all the videos, I still dont believe I fully understand enough to actually go out and start looking for deals.
Apply for my apprentice program
Live in Chico CA, Trying to get out of my day Job, I have a few Rentals
But I just cant get ahead. Terry
My work is in the bathtub refinishing
You Are A Funny Man !
Excellent information and yes having a mentor is the best, if you can afford it.
Hi Phil:
I’ve watched your mentoring videos for a couple of years. Are you located in Florida? I’m researching some areas in Jacksonville,(looking at 3/2 SFRs, condos and townhomes with low HOAs) and would appreciate your opinion.
Thanks,
Nicole Ferreira
Yes, florida
Interested in apprentice program.
Go here to Apply to be my next Apprentice
I been studing since feb of this year im ready to rock and roll dont have a website yet because of financies not afraid to talk to people i know of a couple resources to go to
Hey Phil,
Great analogy. I also surf. Very well explained. Thanks for the email.
See you in the lineup someday, maybe. Hopefully there will be a good swell sometime soon.
Regards,
Daniel