A long time ago Wade Cook was a real estate guru. Before that he was a taxi driver.
He said most taxi drivers waited for the big fares so they could work less and make more… or so they thought.
On the other hand, Wade liked to get all the little fares. The fares his competition didn’t want anything to do with.
Instead of making $10 or $20 or $50 per fare and spending most of his time sitting and waiting for the good deals, Wade would take all the $2. $3, $5, & $7 fares. He was “quick turning” cab fares right and left. The more “meter drops” he got, the more money he made.
Guess who made more money? Wade did!
Real estate investing is like a meter drop in many ways.
In the old days, it may have been prudent to wait for the big deals to come along. But that’s where all the competition is now.
Today, it’s better to go for the quick turn deals, the more your meter drops you get, the more money you’ll make.
And there’s no competition for these kinds of deals.
When Jack Miller left the house in the morning to go find deals, he made a commitment to himself to not go home until he made $1,000. Perhaps he found a motivated seller who just wanted someone to take over their payments, he'd get an option, then sell his option for a quick $1,000.
Maybe he'd find someone who wanted to sell a note at a discount or an old run down house He's get an option then find a buyer who would pay him $500 for finding the deal.
Opportunities are everywhere to make a quick $500 or $1,000 or $3,000.
Best of Success… and Freedom,
Jackie
P.s. What ever happened to Wade Cook? He was convicted of tax evasion and sentenced to 88 months in prison. It’s so crazy!
