If Time Is Money, How Are You Investing In Your Mortgage Refinance Business

Posted on June 20, 2010
Filed Under Time Management | Leave a Comment

A well-liked phrase is that time is cash. I’m sure you’ve heard that – right?

Well let me ask you something, if time is money, then how are you investing your time in your mortgage refinance business? Is it a moneymaking investment?

Are you doing things that may bring a return on your investment or are you wasting the one equal resource among all of us? With so many opportunities available to us, often it’s easy to get caught up watching what everyone else is doing rather than minding our own business. See, as a real estate businessman you have to continually be on guard to always respect and honor your time.

Therefore allow me to go over the areas that you should be investing your time. These areas are the most significant areas for you to see real expansion in your real estate investment business.

First, you need to focus on your promoting systems to steadily bring you leads of motivated sellers each month that may beg you to buy their home. The selling of your business is the lifeblood to its expansion. As you are first starting, you’ll have a small budget ; therefore you should focus on lower cost, direct response secrets to get folk to act straight away. Then, as you complete a few deals, re-invest a proportion of your profits into your business for marketing.

Next, you have to focus on building relationships. Everyone that you meet may know of somebody that you could help out. When you think of building relationships, think about the people that see incentivized sellers twenty four seven and work to build coalitions with these people as they can refer you business every month. After all , many of those firms are advertising and it’s impossible for them to help everybody that comes thru the doors. As an example, if you develop a connection with a mortgage company, they could refer you leads of homeowners that are in default that call making an attempt to refinance before they’re foreclosed on. You could by their house to stop the foreclosure. See, these kinds of loans are very difficult to do and you might be helping the mortgage company by taking care of their customer. And as a result, you will get repeat business.

The following area I need to debate is achieving mastery of the art of talks with galvanized sellers. You must first learn to build harmoniousness with each seller before talking about any numbers in relation to the house that you’re hoping to buy. It’s a undisputed fact that negotiations will go better for you if the party loves you. So , find an in that you can talk about with the seller, then slowly move into talking about the house focusing on a solution for the discomfort they are going thru by owning the property.

Finally, last and actually not least, your exit plan becomes one of the major pieces to this puzzle that you must master to creating giant paydays. Many times this may be a tougher area to crack because all your focus has been regarding how to procure the deal and not on the way to sell it. Just look at most real estate forums and you may see everyone wants to target the latest, best way to acquire a deal. Take charge of your exit strategies and create a systemized approach to getting out of deals in record time.

Therefore if you want to grow your business to where you are doing 1-2 deals or more per month then you want a system that’s consistently working for you bringing you deals in every month. These systems help to take the forecasting out of what you need to do next. Now, invest your time sensibly creating systems in these four areas and watch your mortgage refinance business grow!

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