Storage Wins EP400: ASCEND Mastermind Call - How to Prepare & Navigate (Personally & Business) Through a Changing Real Estate Market
Alex & Steve recently hosted a private, ASCEND members-only Mastermind call to discuss how they can prepare and navigate, both personally and in business, and you're about to get access to the first hour of that call. Alex & Steve dive into Mindset, and share practical, strategic advice from a business perspective. Now more than ever is when you want to be connected to a community like ASCEND, so if you're interested in learning more, apply here.
Key Takeaways:
- THANK YOU for allowing us to reach the 400 episodes milestone! Alex greatly appreciates you!
- Alex wants to give you a sneak peek behind a recent ASCEND (members-only) mastermind call.
- The news just perpetuates more fear and can be very negative.
- Regardless of some of the tough things that are happening right now, this is going to pass.
- Mindset is critical in a time like this.
- Before you make big decisions, ask yourself if it's fear-based or if this is strategic. Are you operating out of FAITH or FEAR?
- Don't feel prepared? That's what Alex and Steve are here for.
- Now is the time to step up as a leader.
- Exercise is so important! Don't stop just because the gyms are closed.
- Cut out all non-essential spending right now.
- Make sure you have some cash reserves on hand (both personally and in your business).
- Survey the landscape and be strategic!
- Follow-up is gold right now. Keep doing it.
- Alex is sending a customized two-page mail piece.
- Communicate with EVERYONE! Over-communicate if need be. Stay connected.
- Think through if you need to redefine your "buy box".
- Some courts are closed right now, so it's going to affect your deeds.
- Transaction coordinator side: babysit your deals to the closing table.
- Remember, be a professional. Go above & beyond for people.
- Look at money outflow right now and ask yourself if this expense is producing the results you want?
- Alex does a quick rapid-fire session on what you should be doing right now.
- Should you decrease the size of your team?
- Don't have enough cash on hand? Consider liquidating assets.
- As of this moment, President Trump is suspending foreclosures and evictions to the end of April.
- Reach out to your tenants and keep the lines of communication open.
- Don't try to time the market.
- Use this opportunity to improve yourself, and tighten up your business processes / systems / KPIs, etc.
- If you are able to automate your rents, do it right now.
- If you are considering buying a short-term rental, make sure you have multiple exit strategies.
Mentioned in This Episode:
How To Grow Your Business, Expand Your Impact, and Experience Your Perfect Life: Don't Wait To Enjoy Your Life Tomorrow, Live It Today!
Let Alex know what you'd like to hear: flipempire.com/feedback
John Martinez, Greg Helbeck & Steve Enns share in this Workshop how you can Transition to Buying Virtually (on the Phone)
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Tweetables:
"Tough times don't last, tough people do."
"Liquidity right now is gold. Have cash, have capital, not just on the personal side, but on the business side."
"Life has a way of humbling you. This is an opportunity to go out and help more people."
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