By John Jackson — After years of teaching many people lease options and wholesaling, I have found that there are some students that take off, and some that never make it off the taxiway.
We’ve all heard phrases such as “Paralysis of Analysis” “Stuck in learn mode” “Can’t seem to pull the trigger” and I have certainly seen it first hand from students and embarrassingly enough, in myself as well.
When we are learning either a new strategy, marketing, or deal structure we can very easily overthink things, make them more complicated, and honestly, just get scared to take action that matters.
So, after seeing this in students, and sometimes in myself, I developed a training system called the BUCK system. The BUCK system can be used for just about anything you want to learn, from real estate to a new language even!
So let’s look at what the BUCK system is.
“B” stands for BASICS. You need to learn the BASICS as fast as you possibly can! No details, no “yeah but, what if..” Just learn the BASICS as fast as you possibly can.
For example, I teach lease options. So, learn the basic structure and contract flow of the 3 types of lease options as fast as you can as well as how to set the numbers.
That’s it. Don’t ask ANY “What if” questions. Just learn the BASICS as fast as you can. For lease options, it shouldn’t take more than 1 day. Seriously.
“U” stands for “UNCOMFORTABLE”. Do something uncomfortable. This is more important than you might think. We like our comfort zones no matter how uncomfortable the comfort zone is, and we have to break out of that.
For example, I teach my students to have business cards made that say “I PAY $1,000 FOR LOW EQUITY LEADS!” and of course their contact info. Then go to real estate meetings and when they ask for any deals or announcements, stand up and announce loudly that you pay wholesalers $1,000 for the leads they trash!
Standing up in a crowd of strangers can be highly uncomfortable for most.
“C” stand for “CREATIVE”. Get creative! Let your mind go nuts thinking of creative ways to market for example. Always be thinking of ways to market.
For example, using the scenario above, take a check for $1,000 to the meeting and stand up and say “I have a check here for $1,000 that I’m supposed to give someone, but I’m not sure who. IF you have leads that you can’t use, or don’t have equity, this check is probably for you. Come see me at the back of the room after the meeting!”
See? Creativity is very powerful, and when it comes to marketing, creativity will almost always beat money thrown without reason into the wind of aimless marketing.
“K” stands for “KNOWLEDGE”. Never stop learning, but keep in mind that most people get stuck in learning mode, because they don’t’ realize that knowledge falls into two categories.
1) Oh my gosh, I need to implement that information NOW!
2) Oh that’s interesting, I’ll keep that in mind.
The first category means you need to implement that information NOW.
The second means, it’s interesting to know, and you might use that later, so you just kind of stick that knowledge on the shelf for later use. Where people get hung up is they think EVERY piece of knowledge has to be used NOW. Nope. As a matter of fact, most knowledge you get falls into the “I’ll keep that in mind” category.
So there you go! The BUCK system! Want to learn a new language, game, sport, real estate technique? Use the BUCK system and I think you’ll see how fast you really can learn something.
John Jackson is an expert in lease options and particularly Texas lease options.