Just because you come across a deal it doesn’t mean you should do it – you must only do deals that you can handle with your current skill level and financial capabilities. In other words, your personal timing must be right, for you.
You must also do deals that take you towards your goals & vision for your future, it is very liberating to know instantly if a deal is for you, sometimes being able to refuse a deal instantly because it does not fit your profile helps you to look professional to others because of your focus, it also saves you a great deal of time.
As I said before, if you keep changing the property type you are dealing in (before you have a wide range of experience) you have to learn new skills and gather new information each time. Once you know one type of property and one type of transaction that you can deal with instinctively you can really excel. If you can become a true expert, you will have given yourself a significant lead on your competition.
If a deal is not for you it might be for someone else, so as part of your local knowledge you should ensure you know all the other players in your area and what their specialities are – then you can pass deals along that you don’t want to do, hopefully making an introduction fee on the way. This way you have profited from the deal without losing your focus on achieving your vision.
Don’t do a deal just because it’s presented, Pass it on if the time’s not right for you
TASK OF THE DAY - Think about your own financial capabilities & abilities within the property industry. Identify people you could take deals to that you cannot or do not want to do (for a fee!)
