Russ Hiner is an active real estate investor, coach and mentor. Russ teaches several workshops throughout the year on a variety of real estate investing topics such as Negotiations, Wholesaling 101, Wholesaling 401, Real Estate 101 and more. Russ’s current real estate business is focused on the rentals, wholesale real estate transactions, lease options, notes and deeds, loaning private money, commercial and note buying.
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Over the holidays I had a few great learning lessons. I volunteer for several different causes. The one I chose, was a half-way house for recovering addicts. I have learned from that experience that it takes on average 6 times or 6 attempts to become clean. Now this is an average. There are some individuals who will get clean in a much shorter time because they have super “WHY” and have the right relationships which will support them in their life’s journey. So I started to look at my own life and the struggles I have learning and implementing new systems in my own business. Why do I go to the seminars and training which I buy, spending thousands of dollars on my education? The day after the seminar I do nothing. I never implement the great knowledge and systems the gurus has provided. I don’t even open the book ever again. Does this sound familiar? Read More >>
As this year comes to an end, I am reflecting on what went right and what areas in my life do I need to focus on, to make some improvements to reach my highest level of success?
Part of having a very successful business, involves 3 basic principles; purpose, attitude and action. Let’s look at these 3 basic principles. The good news is the chances of us getting it right is because the change is within us and we don’t need to depend on anyone else for this success. Did you hear me! The bad news is the change is within us, which means we have to take responsibility and action to get it right.
Number 1 – What is your Purpose?
When we have an outrageous WHY, the opportunity for success goes up dramatically.
SO ask yourselves…. why do you think real estate is the right vehicle for you? What problems can this vehicle help to solve in your life? How is this new wealth vehicle different from the current work you are doing? This is not a get rich quick scheme. Read More >>
This is your life. You have decided that real estate investing is something you want to do. But…
Are you sinking or swimming?
Right now, I am teaching a 58 year old friend to swim. I can see his fear. He is thinking, “What if I drown?” or “What if I can't do this and I look silly?” We all have fears about uncertainties; fear is natural and good—it can keep us out of trouble! But, when fear controls you, when it stops and paralyzes you, when it keeps you from success, it is a problem.
Remember: There is no such thing as a dead end.
Your fears can be conquered easily through calculated action and baby steps.
How is your business like learning to swim? Like my friend, you probably have fear. Maybe you fear loss of financial security or not being able to know a bad deal from a great deal. Maybe you fear failure, or you fear what people will think if you make bad decisions. Maybe you even fear success. The problem is that fear will wear you out and kill your drive. Just like the swimmer, you need to know when to swim and when to float. You need to learn to trust the system and yourself. Read More >>
Over the past six months I have discussed excuses on why people are failing in the real estate business. I had discussed the excuse of lack of money, the excuse of lack of time, the excuse of lack of leads, the excuse of lack of a system, and last month I did a piece on accountability partners. Each one of these segments has been designed to eliminate the distractions and excuses for individuals that are desiring to get involved in real estate and are not accomplishing anything. This month I want to discuss how persistence and consistency will get you to your financial goals faster.
I go to the gym on a regular basis. There are individuals in the gym every time I am there, and I typically go 5 times a week. I have noticed that those individuals who are dedicated to their weight training and eating right have absolutely incredible bodies. The individuals, who come inconsistently, do not have the same success. For example take the individual who comes in on Monday and because it's a Monday decides that they are only going to do a short exercise routine. That same individual on Friday decides that “hey it's Friday and I will just do a light day”. That same individual comes in and spends 20 min. talking to everybody and socializing. That individual is not making head way on their exercise routine, maintaining their weight, and eating right. There are individuals who say that they are doing all of the right things, however their actions speak louder than words. These “quasi health nuts” are consumed by distractions and excuses. Read More >>
What will you do when things don’t go as planned? Will you flounder, or will you be able to put into motion a clear set of actions? In other words,
Do you have a System for Success?
Recently, a colleague of mine had two contractors burn him on a job. It should have been a quick fix, three days maximum, light work… paint, cleaning, and light bulbs. But neither contractor had a system to get the job done right, and he did not have a system to fire contractors and still come in on budget. The upshot is that, without a system, you risk losing time and money.
Often, when things don’t go as planned (and this can be often!), we have fear. We become paralyzed, perhaps we focus on the negative. To be successful, we need a plan that keeps us from feeling this way because what we want is success.
What does a good system give you? Read More >>
Have you been in real estate for 6 months, or have you really been in real estate for 1 month? Because if you’re really in real estate, you’ve made a deal by now, maybe several.
Here’s the truth: If you’re not making offers, if you’re not making deals, you’re not in real estate…yet.
Are you making the mistake of preparing and then doing nothing? Listen, if you’re prepared, then you have the education. You’ve paid a lot of money to take courses, you’ve read the books, and you’ve watched the videos. You understand that buying real estate is not rocket science. You understand that making an offer is not difficult. You have a power team: a contractor, an attorney, a survey company, and a real estate agent.
But you just don’t seem to be able to get one deal done.
What will it take for you to make a deal?
How can you overcome this fear and lethargy? Read More >>
How many times does your phone need to ring to make a deal? Well, the more rings you have, the more possibilities there are, right? But here is the catch: you don’t want just any calls. You want quality calls. It doesn’t matter how many calls you get if they aren’t ones that are going to lead to getting paid.
You may have heard real estate gurus telling you how to get that phone to ring. But I can show you how to get the phone to ring so that when you answer, you’ll have a potential good deal on the other end.
First, quality calls will decrease your overhead. I typically spend $1000 per closing on marketing. In the past, I bought the latest in high tech products which were supposed to send me 10 leads per day. The problem was that, while the leads were plentiful, the number that actually worked was less than I wanted.
You see, I want to make the time that I spend worth it. I want sellers who call me so ready to sell that I can barely finish saying, “Hi, this is Russ. How may I help you?” And I want them to say, ” I heard you were the best in the Atlanta area, you pay a fair price, you are respectful, and you do what you say you are going to do. I don’t care what you offer me, I will take it because I know you will be fair. I know you can close in 30 days. I trust you.”
How can YOU get these kinds of calls? I’m about to tell you. Read More >>
Recently I was coaching a student, and we came across what appeared to be an excellent opportunity. Because of my knowledge of the area, I was immediately able to give the student the right price to offer. I showed him how to negotiate the contract, which he did perfectly.
The result? With my knowledge, we were able to do only minimum work. While we found that the property wasn’t the deal we expected, we did so without wasting time. Since time equals money, it is essential to know your market so that you don’t work too hard for nothing.
We decided that this student, a new investor, was going to buy a house for $5,000 and wholesale it to an area landlord. Rents there were approximately $800/ month. Rehabbing would be close to $30,000. When we subtracted management, vacancies, taxes, insurance, and maintenance, the property would earn a 20% return. This was a great opportunity for anyone who wanted to become a landlord in that area—and a great opportunity to make a $7000 wholesale fee. Read More >>
Here is some news that might surprise you…
banks and hedge funds can actually make your business stronger, especially if you own property.
I can say this with confidence because I’ve been in this business for a long time, and I want to share with you what I know about the relationship between you and the banks:
Banks: Right now, banks are holding the prices up artificially, meaning that values are rising. Banks are pushing the limits of pricing. They are getting data on the best-selling styles, features, and geographic areas. They know which houses sell and rent the fastest. Remember: banks are in the real-estate business; a business makes money. Do not expect them to treat you like a friend.
Hedge Funds: According to The Wall Street Journal, hedge funds are gathering analytics on the type of housing that is in demand. Their information is so specific that they know which houses’ rents can be increased. They also control the home owner and rental market, making it clear which way you should go when you put a house under contract. Read More >>
People often ask me, “Russ, how do you stay so motivated, confident, and upbeat?”
My answer? I know my assets, and I make sure that I have more assets than liabilities.
Do you know your assets?
Knowing your assets will allow you to assess whether or not you are heading in the right direction. It will show you if you are winning or losing. I like to know what my assets are because it builds my self-esteem and feeds my ego. There is nothing like a good ego boost!
Here are the 4 types of assets:
Physical/ Money Assets
When we think of assets, we typically think of money! But there is much more than that. There are physical assets. Read More >>
How can you get not only what you want but MORE than what you have ever wished for?
Nothing is Unreachable
Your success depends on your vision.
When you expand your thinking, you can expand your success. Expect more and work knowing that you can have it. From the start, know how big you want your business to be and work as though it is already there.
Big business owners keep good analytical data on sales, acquisitions, expenses, and growth. With good analytical data, you can prove that you are a good business person, and people will want to loan/give you money. Read More >>