‘MAPS’ to Guide You Through Multifamily Deals

Posted on Feb 24 2016 - 10:03pm by Lance Edwards
Lance Edwards. President, First Cornerstone Group, LLC.

Lance Edwards, President, First Cornerstone Group, LLC.

Once you have made the decision to start doing multifamily property deals, you might find the whole process a little intimidating. It does not need to be. It is simply a matter of following your MAPS.

MAPS stand for Mindset, Accountability, Practice and Showing Up.

Your mindset can be your greatest asset or your greatest liability when it comes to putting together multifamily deals. The linguistics you use are the most powerful lever you have on your mind. For instance, if you think of yourself as a survivor, you are mentally relying on adversity to be successful.

You can be a problem solver that thrives in spite of any challenge that comes along. A problem solver is more empowering than the image of a survivor who is battling for existence.

Accountability will help to motivate you to accomplish the goals that you have set forth for yourself no matter how big or small they might be. You need to decide what you are going to do and then tell someone of your next plan or step. A commitment has then been made to someone and then when they have asked you if you have done what you committed to or not, you will be embarrassed to tell them no. Pride and the fear of failure will keep you focused on your goals.

Practicing on how you will present your multifamily deals to potential investors will help you to overcome your fear of speaking to them. Visualize a successful conversation where the investor wants to do the deal. As you visual your call, try to experience the feeling of a successful call. What will it would it sound like, feel like and smell like? Try to incorporate all of your senses.

Imagine a successful call and get it into your subconscious. Your subconscious does not know the difference between what is real and what is not real. Once you have it tucked away in your subconscious, it will manifest and create the positive things before you do the call. This will help drive you to make that call. Fear can be a constructive and productive thing.

Showing Up is 80% of your success. You may not have it all figured out by you are going to show up anyway. You can make plans of course, but keep in mind that some of the best laid plans go out the window once the ball starts rolling. Just show up.

Once you show up, everything else will change. That is how things go in real estate. If you do not show up for the multifamily deal, then someone else will and you get what is left behind. Just remember that good things come to those who wait but only those things left behind by those who hustle!
So do not let the prospect of putting together your first multifamily deal overwhelm and intimidate you. Use your Mindest Accountability Practice and Showing Up to encourage and empower you. Your road to financial freedom has just begun!