Get Rich Slow
I wanted to share some thoughts with you about some disturbing trends I am seeing in our real estate market
I see this taught, I see this as a mentality, I see this celebrated on social media, and I see it over and over again everywhere I go.
And it's poisonous:
Everyone wants to get rich fast. Nobody has patience anymore. Or attention span.
Take real estate wholesaling, for example.
People see the $20k checks posted on FB and their eyes light up with $$ signs.
Instead of taking the time to learn the craft, how to market properly, how to build rapport with sellers, how to negotiate, etc…
They jump in half-cocked, then complain there's no results after 2 months and give up.
Instead of taking time to learn, they lazily post questions in FB groups and expect answers to be given on a silver platter
They throw their hands up in the air and proclaim “there is no deals!!!!” while the true players are crushing deals in the same market.
Not good. Not good at all.
If you want to succeed in ANYTHING, you have to treat it like a craft.
I see the same thing happen in real estate development.
Someone who hasn't done more than 2-3 deals goes out and raises all this investor money to do a big project.
They haven't so much as rehabbed a house but they want to build a big building.
Or they want to buy 200 units never having owned a single rental property.
That's a recipe for disaster and financial ruin – not only your own but your investors'!
Me?
I started doing one rehab at a time. I put blood sweat and tears into learning single family business.
Then I rehabbed duplexes and 4-unit buildings.
Then I rehabbed a small 5-unit mixed use building.
Then I did my first new construction house.
Then a new build duplex.
Then a 4 unit.
Then a 6-unit.
Now I have the confidence to build 14, 20, 50 unit projects and actually be able to review architectural plans, plumbing drawings, HVAC, electrical, civil, storm competently.
And in a year or two I plan on doing 100-200 units at a time.
Every project I have done to date has been a slow evolution in my learning curve
Every project I learned something that I then applied to the next one
Every project was a step on a ladder to ensure that I have the know-how to actually do what I intend to do.
I treat it like a craft.
Sure I could have already raised millions in equity and done much bigger projects
But that would have been an irresponsible way to treat some else's money.
What's my point?
Why am I telling you this instead of enjoying the beach?
2 reasons:
1) I don't know how to enjoy the beach. What do you do anyway just lying on the beach for hours? What do you do with your hands? I don't' get it…
2) I want you to succeed.
And because of that, in whatever you do, I want you to treat it like a real business.
Learn the ins and outs
Take the time to master your skills
Learn the math, learn the zoning, learn how to negotiate, learn how market, study the psychology of persuasion because that applies to everything!
Whatever the “deep skills” required in the business that you undertake, master them!
That's what will differentiate you from every joker you're competing against and will ensure that you actually last in this business for a long time
Especially as we increase a risk of a recession, the true professionals will survive and everyone else will fall to the wayside.
And true professionals don't jump in half-cocked with $$ signs in their eyes.
True professionals choose to “get rich slow”
When you choose to “get rich slow”, you choose to build a strong, solid foundation of skills, experience, contacts, and confidence.
When you choose to “get rich slow”, you also give yourself the time to learn before taking on too much risk or taking on too much of someone else's capital.
And when you choose to “get rich slow”, you are much less likely to lose it all overnight because your entire foundation of knowledge and money is built up properly.
I truly hope you will be one of these professionals, that you get rich slow but get very rich and succeed beyond your wildest dreams.
Talk soon!
Daniil Kleyman
www.RehabValuator.com
P.S. Agree? Disagree? Type in the comments below!
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Wow Mr Kleyman, You have just confirmed everything that i’ve put forth in the business that own now that knowledge is power always give yourself enough time to learn and master the craft and then apply. This is the main reason why i haven’t done my first wholesale deal yet I must be sure to apply the correct techniques.
Thanks you so much Daniil
Randy
That’s the way I did it Daniil some 40:years ago!! I now have over 9;000;000 sf of completed projects, And have built at least one of everything! Congratulations on your construction program!!!
Mike Secor
The SCORE GROUP, Llc
There truly no other way to build anything, not even your personal life. I totally agree and just beginning I want to know that I know before jumping into anything blind.
Glad to have found you. I love your insights and sincerity.
Thanks, Maegan!
I most definitely agree. All good things take time.
They most certainly do David!
I totally agree
We’re happy to hear that Ken!
Now I don’t feel bad, thanks for the words. You can not knock wisdom, knowledge, patience and true learning never stops. I am ready to take a calulated risk after doing the work. With RehabValutors help.
Thanks
I cannot begin to tell you how glad I am to hear you say/write what you’ve written about get rich slow.
I’m 68 and urgently need to catch up on my financial security, thus I have been sucked into the headlines of “next big thing” or “best opportunity in 40 years” or “better opportunity than bitcoins”. “game changer”. I’ve read them but never have taken the bait. Thank for restoring my faith you. This get rich slow philosophy is the reason Ive subscribed to you and now after reading this message I’m inspired to get more serious with your programs Thank You! Skip
I agree. Thank you so much.
Daniil,
I’m extremely grateful for your commitment to our success.
After having 2-to many people who were takers without delivery, you are refreshing in the way you instruct, with examples and you mention pitfalls to have us avoid those. You give so much, and I will invest in the Premium as soon as I can.
Hi Vanessa! We are really happy to hear you are finding value in our content. Keep going through it and taking in all of the information you can to be successful in this business. The Lite version of the software is still very powerful when doing your deal analysis. When you’re ready to test-drive Premium, we do offer $1 two-week trials for new users to the software! Reach out to our support team if there’s anything they can assist with 🙂
Great Information!!
The team and I are willing to learn. The problem we have is mentorship costs way to much and we just can’t afford it just starting out. Most people would say “then why come out if you can’t afford it” but what they don’t understand is…we can’t afford not to try. I know there is money to be made in this business and I have wanted to get involved in real estate for a very long time. Now is the time. We are stepping out on faith believing God will point us in the right direction. Slow and steady is the way.
Agree! Get rich slowly but surely. Boom!!!
I agree
Thanks for sharing.
Well said!
I agree get rich slow.Totally agree .?
Very well said. Thank you for the words of wisdom. You are wise beyond your years.
Yes, this is good to read as we begin the new year. This is wisdom from an experienced investor. Thank you
I totally agree ?
How to Get Rich Slow with the Right
Foundation https://rehabvaluator.com/content/blog/get-rich-slow/
@DrReiCashflow Agree Instead of taking time to learn, they
lazily post questions in FB groups and expect answers
to be given on a silver platter. Learn the ins and
outs, Take the time to master your skills!
I have a long way to go.
HF
Yes thank you very much sir for taking the time to give me this information just a little bit about myself I am was in the restaurant industry for 20 years 10 of that management was making money went into construction I’ve done additions kitchens bathrooms flooring built million dollar camps and Lake Winnepesaukee. Also did property management I am at 40 units and eight commercials I did that for like two or three years now I basically have a handyman service but I do general contracting and construction I love real estate for 30 years and wish I got into it earlier I did take the course for New Hampshire but took it with the wrong people so I have to take it again I’ve always wanted to get him to flip get into investment properties. Multi families etc. again I wanna thank you for this opportunity and I surely will not let you down
Thank you
James Allard
Hi James,
Thank you for your kind words. We are glad you are taking advantage of all of our valuable resources and training videos.
Wow Thank you for your genuine sincerity. I do agree and I’m aware of all that hype on the $$ taking place outside my front door when it comes to real estate without a license. I want to succeed in this investors/investments/wholesaling business working from home, and I have been following you for a minute, and you have so far made me feel like i can do this and build a solid foundation from the ground up. Time is of the Essence, and I’m too old to waste anymore time sitting on the sidelines. I am a professional and I will train myself to learn everything you send my way, so I can go out there and execute with confidence. . During these difficult times trying to survive covid19, I am taking my time to learn everything you have to offer and until now its been “hands up “. Thank you for your sincerity and wanting to share valuable information with people like myself to keep moving forward.
Dear, Daniil, you have a way of giving so much and never asking for anything in return. I find your style true and blue in every word you say and the abundance of powerful information that you stand apart from all the other want-to-be trainers. You have a special place, not only on this planet but when you face our creator; Who is well pleased with your giving ways! I am humbled to learn, grown and excel with your profound teachings! God Bless You Always, and all the best to you, the miss and your two children. No other place on the internet has this much authoritative knowledge and wisdom so easy to understand.
“+”
Hi Rubin,
We are humbled by your kind words. Thanks again for the feedback!
Very good advice. I agree with you 100%.
Thank you, Beverly!
Gotta take it slow..you have to learn to walk before you can run…best advice ever! and proven!!!
New. Just thinking about learning the ins and outs of real estate investing. Was referred by a dear friend of mine. I am looking to learn how to earn passive incomes. SSA is not going to be safe even though it is my money that was put in it. No website yet. Just signed up for the webinar tonight. I enjoyed your sound advice.
Agree
Thanks Daniel,
Your wisdom is priceless.
Oliver
Thanks, Oliver! I appreciate that
I agree. Thank you for the confirmation. I have been moving soooo slow! I have been recouping and reevaluating after the down turned market in Real Estate. I have bought and sold lots of residential properties and now looking to do Multifamily and development. I believe in perfecting my craft and Professionalism.
I hear and appreciate everything you are sharing Danill. I have a dilemma.- I want to have a small SF built for myself and I am just beginning in this business. I would like to start with 3bdrms. Would that be inapropiate at this time?
Hi Debbie. I don’t see any issues with a 3 bedroom house. Not sure why you’re concerned. It’s always scary when you start anything. It’ll get easier once you pull the trigger!
Just looking at my Marketing Campaign material. I.E. Bandit Signs, Direct Mail (Expensive),D4$ and talking to neighbors of a distressed property to obtain more property/owner info to find leads. Q- With the RV property owner info available, is it cost prohibitive to id the owners Ph #?
Dan, I’m 65.
It has been too slow for me(30) Plus Years.
Let’s Hurry!!!
This post is precisely the approach I have and been leading with when I started both of my businesses. Profound wisdom here for those who have the microwave mentality and a recap for those who think otherwise.
Thanks for sharing.
Very well put, David! 🙂
Thank you, these are good points. We have been doing flip to rent on a shoestring for about 10 years, and are now interested in flip to sell, so we can enjoy some quiet time between projects. Please send more information.
Hi Sharon,
Thank you for commenting on our post.
Stayed tuned to your emails as we send out great training and information weekly to our users!
Sincerely,
Thanks Daniil…..for keeping it REAL! You hit the nail on the head!
The old saying “If it was EASY, then everyone would be doing it”!
Rich from JERSEY!
Thank you very much
I want to learn Oh what I have to and then acting
I have tried to grow both by being very deliberate and moving too fast. The deliberate method is by far the best and the most sustainable. This is my life saying, ” be patient or be a patient.” Patience is a virtue with a lot of WAIT (weight). Thanks for sharing so freely with all of us!
Hello Daniel, you are the best of the best,good, honest and very educative teaching.many blessings
I love this guy from Russia,he has been doing his walk and now he doing his talk to help us all, he really cares,love the turtle, he or she gets there, it may be slow but they keep the steady pace and they always get there, love it, Jim
Yes I agree
I agree wholeheartily!!!
I really like your outlook in life and business.You inspired me.
Hi Teofila. Thanks for your kind words. We look forward to hearing about your progress in the future.
I agree
Just what I need to know
Thanks for everything
Great to learn how to First and avoid mistakes in the project. Less do-overs equals more time equals more roi…
Exactly right, Rodney!
Thank you Daniil, We are going slow and steady. This is our first new small home. We are going to input our information and expenses in “Rehab” soon. This is our first baby…so baby steps for us.
Thanks for the above message…I love it.
Debbie
Sounds great, Debbie! First deal is always the scariest and the hardest. Then it gets easier!
Thanks for making me feel better! I thought that I was moving too slow! Just created the business in December, got Rehabvaluator, just got my website set up, don’t have business cards yet because I wanted the website up first. Not much extra money, just doing things one at a time and doing some research and reading to make sure I do it right the first time. This just let me know that how I’m moving is setting me up for the long haul. Thanks!
Always good to build a solid foundation first!