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September 25, 2020

Are You a Victim of Lack of Deal-itis?


I have seen “lack of deal-itis” stumble my subscribers again and again, so I thought about writing a quick post to ensure that none of you end up being an unwitting victim of this disease.

Here are three signs that you could be a victim of lack of deal-itis

First, Check Your Attitude

If you find yourself saying, “There are no deals in my market”, guess what – your brain won’t make you a liar! You’ll certainly not see opportunities if you have a negative outlook. Instead, ask yourself, “Where can I find a deal?” Then, magically, your brain starts to notice things.

Think about the last time you bought a car. You probably saw a few of them around, but once you bought one, you noticed it everywhere, in every color, in every parking lot! You get what you focus on. If you look for opportunities, you will find them.

Second, Pay No Attention to Negative “Experts”

If you find yourself being told by brokers, “There are no deals, it’s a seller’s market”, do NOT let it get to you. When I first moved to Denver in 1993, I was repeatedly told that 20-30% discounts were “impossible”, maybe I was lucky to get a 3% discount. I did 18 smokin’ deals that first year, despite what I was told by the “experts”. Remember, people have house problems in any market – look for the problems and you find deals.

Third, “Shake the Trees”

Good real estate deals won’t fall into your lap. If you are relying on a few real estate agents to bring you deals, you will be disappointed. If you want good deals, you must go out and FIND them. You should have a detailed, written, SYSTEMATIC marketing plan to find motivated sellers who will sell you their house at a good price and terms. Never stop marketing – your funnel must be always filled with leads!

If you are suffering from “lack of deal-itis”, don’t worry. It is still not too late! You can still turn things around now.

All you have to do is to to take MASSIVE amounts of action.

Of course, it is easier said than done, but it CAN be done.

I want to see you succeed, so I hope that this message has been useful in helping you identify if you are a victim of lack of deal-itis!

If you are not a victim, congratulations and good for you!

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Attorney William Bronchick

Attorney William ("Bill") Bronchick, the host of Legalwiz.com, has authored six best-selling books and is sought nationwide for his 30+ years of real estate and legal knowledge. He has been interviewed by numerous media outlets, such as CNBC, TIME Magazine, USA Today, Investor Business Daily, Forbes, and the LA Times, to name a few. William Bronchick is the co-founder and past President of the Colorado Association of Real Estate Investors and the President of the Colorado Landlords Association. Click on the "About" link above for more information on William Bronchick.

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