This is part 2 of a series on the “Matthew Effect”. If you have not yet read part 1, you can read it here : The “Matthew Effect” and how it applies to real estate investing (Part 1)

Imagine the time when a real estate investor finally nails his first deal. Can that be a stroke of genius, the result of sheer hard work, or just plain luck? I believe it all starts with what Malcolm Gladwell refers to as  extraordinary opportunities in his book Outliers, and being the person willing to act upon these opportunities when they come.

“For those who have, more will be given…”

I remember from way way back when I always looked at the Sunday edition of the Manila Bulletin (I still do) and looked at their acquired assets section. In fact, I had a big pile at my side table but never got to buying any foreclosed property, it seemed I could not find any that were worth a second look.

Does this sound familiar? Have you ever been in the same situation and had the same feeling?

Things changed however during the early part of 2008. It was during this time when my mentor Jon Abaquin a.k.a. “Doctor Rent”, gave me and my friends (there were three of us) an assignment. After explaining what to look for, we were tasked to find foreclosed properties and analyze them, with the goal of submitting offers, and eventually end up acquiring a property.

After a day or two, from the same pile of newspapers on my table, I found a 9-door apartment from a listing that I had previously looked at. I probably missed it the first time I read that listing because I did not know what to look for.

No, the listing did not mention it was a 9-door apartment, it only indicated it was a lot with improvement as seen below.

If you will notice, this had an unusually big floor area and it was most probably a multi-door property. I missed this before but I saw it the second time around and checked and found out I was correct. My mentor, along with his partners, owned a 24-unit property back then. I wanted a similar property.

My offer for the 9-door apartment at Php1.9 M got approved but it turns out the owner was still living in one of the units and the deal is still pending, which is why I blotted out the address (this in itself is another story and I’ll write about it in another article).

Anyway, I believe that the skill of  knowing what to look for is a perfect example of how the “Matthew Effect” applies to real estate investing. Once you have that skill, “more will be given” to you.

This is because you will begin to see more opportunities in the form of good real estate deals. The good deals did not really appear from nowhere, you simply could not see them before. They were actually there all along.

After “seeing” the property above, I began to see more good deals, they really exist!

More examples of extraordinary opportunities

From my own experience above, I can see two examples of extraordinary opportunities that went my way.

1. I had a mentor. A mentor is someone who can say “Been there, done that, doing it tomorrow”. How I found him is another long story.
2. I learned what to look for because of my mentor

I am just thankful that I was given a chance to do so.

But how can one find those opportunities?

I believe one reason why we don’t see those opportunities that come our way is we are too preoccupied doing other things, or we simply let opportunities pass. We hear words like “I don’t have time to do that, I have too much work” or “I have to do this and that…”.

Let me try to explain something by asking the following 10 questions, the very same questions I asked myself before, some of which I still ask myself to this day:

1. Have you really tried to make time, instead of complaining?

2. Have you really decided to do something rather than just dream about getting out of the rat race through real estate investing?

3. Have you taken the opportunity to analyze potential deals during your free time when you came home from work, instead of watching TV which is really just a waste of time? We have had no TV since early 2008, believe it or not!

4. To begin with, have you even bought a newspaper or visited bank websites to seriously look for foreclosed properties? Are you just like those who dream of winning the lotto but never buy any ticket?

5. Have you really tried to find a location which you can turn into your own niche? You need a niche where you can be an expert so you can easily spot good deals, provided you know what you are looking for.

6. Have you tried to go to the banks to get updated listings or at the very least leave your calling card so they can contact you or send you their updated listings when they become available?

7. Do you even have calling cards that let people know you are a real estate investor? This alone can open a floodgate of opportunities.

8. Have you even tried to learn the whole process of buying a foreclosed property from banks? Even if you don’t have the money yet, start learning so that you will be ready when the time and opportunity comes.

9. Have you even attended an auction? I believe attending not only gives you an idea of what goes on, you get to meet other real estate investors, and you also become a familiar face with banks and they will remember you and send you foreclosed property listings and even some deals.

10. Have you grabbed the opportunity and took the time to learn from other real estate investors who have had success with real estate investing?

Are you beginning to see the big picture? If you answered yes to some of the questions above, I believe you have found and seized “small opportunities”.

If none, what are you waiting for, Christmas?!

A lot of these small opportunities are actually out there for just about everyone who are willing to grab them, and act upon them.  They can lead to a “series of opportunities” and advantages.

This “accumulated advantage” can really help one get started with real estate investing.

But wait, there’s more! I believe the same applies even more when one already has a successful real estate deal.

After the first deal, more opportunities come

When you already have a successful deal, do you believe that even more opportunities will come your way? You bet!

Banks will look at you as a credible and serious buyer and may send good deals your way.

Other real estate investors who get to know you will be more than happy to network with you. You will be “in the loop” and you’ll know it when there are good deals where partners are needed, or other real estate investors simply might send good deals your way.

As your credibility grows, so does the number of people who are willing to work with you.

Aside from other real estate investors, this can also include passive investors, sellers, buyers, real estate brokers, contractors, lawyers, and other people who are involved in the real estate industry.

“From those who have nothing, even what they have will be taken away”

In contrast, someone who does not yet have this “accumulated advantage” and still has “nothing” to show for it yet (in reference to his attempt at real estate investing), and may have difficulty finding the opportunities that I have described above.

This can even lead to a downward spiral as the beginning real estate investor, because of the lack of results which happens because of what seems to be the lack of opportunities, simply loses interest.

Another example of having “nothing” which can lead to circumstances where “what they have will be taken away” would be the lack of integrity. As Peter Scotese said “Integrity is not a 90% thing, not a 95% thing; either you have it or you don’t.”

In real estate investing, or in any business for that matter, would you deal with someone who has no integrity? I don’t think so. And with that, I believe that in a way, all opportunities will be taken away, not by others, but rather by one’s choice to act without integrity.

We always have a choice

In the end, I believe it all boils down to the choices that we make. Yes, we always have a choice.  I believe this is the essence and deeper meaning of being proactive.

The choices we make dictate if we will have opportunities and be given even more, or end up with nothing, and even what we have, be taken away.

Let’s all keep this in mind as we welcome 2011.

I wish you all a Happy and Prosperous New Year!!!

To our success and financial freedom!

Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Follow me in Twitter: http://twitter.com/jay_castillo
Find us in Facebook: Foreclosure Investing Philippines facebook page

Text by Jay Castillo and Cherry Castillo. Copyright © 2010 All rights reserved.

PS. Early bird rates are about to end! Think Rich Quick 3.0 or TRQ Cebu will be happening on January 29-30, 2011 at the Waterfront Cebu City Hotel Salinas Drive, Lahug, Cebu City, Philippines. Enjoy early bird rates up to December 31, 2010 only. Click here for more info!

PPS. Don’t be the last to know, subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. Mailbox getting full? Subscribe through my RSS Feed instead!

How to find opportunities and get started with real estate investing is a post from: Foreclosure Investing Philippines

For those who missed the Think Rich Pinoy Wealth Seminar last May, here’s your chance! I received this e-mail invitation through the Think Rich Pinoy mailing list of Larry Gamboa and I have pasted it below for everyone’s reference. Do take note that today is the last day for Early Bird rates!

———- Forwarded message ———-

From: Larry Gamboa <thinkrichpinoy@gmail.com>

Date: Tue, Jun 30, 2009 at 10:43 AM

Subject: Last Day TODAY – Early Bird (Discounted) Registration for Think Rich Pinoy Wealth Seminar on August 1

You’re invited!

What : Think Rich Pinoy Wealth Seminar

When: August 1, 2009, Saturday, 8AM – 5PM

Where: PhilamLife Building, Manila

Email: thinkrichpinoyseminar@gmail.com or

SMS: 0926-999-9999 for inquiries

Fee:

P1975/ US $ 43 – Early Bird Fee until TODAY June 30, 2009

P 2450/ US $ 53 – Regular Fee from July 1 – 31, 2009

You can pay through Paypal or BPI bank deposit.

See payment details and additional discounts below

Learn from the Think Rich Pinoy TEAM who’s been buying and selling foreclosed real estate for four years now in the Philippines! Yes it can be done. You don’t need to wait for a “recession” to buy property. Get into passive income now!

Buy your seminar ticket here!

What to expect in the Think Rich Pinoy Seminars

Aside from hearing how several young people purchased their first (or 2nd, 3rd, 4th ) properties from the bank at foreclosed rates, complete with pictures, you can expect:

1. Talk 1 – Are you Financially Ready for the Future?

2. The Theology of Money: Talk 2 - Are God and Money really enemies?

3. The Technology of Money: Talk 3 – Pinoy Real Estate Riches Today and Updates

4. The Game of Money: – Cashflow 101 and 202, play the game for 3 hours with like-minded people, guided by seasoned experts

5. Talks 4,5,6 – Real experiences in buying and selling Pinoy Properties from the actual (young) people who did them.

6. Talk 7 – The Think Rich Pinoy Clubs and Pinoy Millionaire Vision 2020

OFWs-teach your family the value of money-in a fun way-via this seminar and the board game. Buy your family a couple of seats to this August 1, Saturday,2009 event.

As you will see, the seminar/workshop is not the same as the book. It adds many dimensions of practicality to it. Come and join us as you continue on your journey towards passive income.

How? It all starts at the Think Rich Pinoy Seminars + Cashflow 101 /202 Game on August 1, 2009

Buy your seminar ticket here!

Free Bonuses:

1. The Breathlessly valuable: *Jay Abraham’s “Master of Passive Income” transcript. “How to Create Multiple Streams of Revenue That Work 24/7 For you”. This 60+ page ebook is going to change the way you think–and earn!

Who is Jay Abraham? Perhaps the world’s #1 expert on Passive Income and #1 Guru of Gurus when it comes to marketing. This ebook’s value alone is more than enough to pay for the seminar price.

2. Special Report compiled for Think Rich Pinoy only (not available anywhere else): The top mistakes pinoy real estate buyers commit.

3. We’re be raffling off a mentoring session: 1 Hour with Larry Gamboa. Ask him anything you want!

4. Enjoy a MARKETING TABLE, where you can leave your calling cards, brochures for people to pickup.

Buy your seminar ticket here!

P.S. Yes, bring a friend with you and learn together. It’s better that way!

P.S. Do you have any relatives who work abroad? Tell them about this so they can sponsor you. They will be glad to, just tell them to read this website! You’ll see.

FAQs Think Rich Pinoy! Seminar

1. Who are the speakers & topics?

Mystery Speaker – Your finances

Mystery Speaker – God vs Money, Is there really a conflict?

Larry Gamboa – Think Rich Pinoy Millionaire Network, Think Rich Pinoy Vision, Think Rich Pinoy Clubs

Ronald Cagape – Cashflow Game Facilitation

Guests – Your Personal Experiences with the game

Think Rich Pinoy Franchise members- Actual Real Estate deals (around 2-3 short talks)

Autograph Signing / Q&A Session

2, What is the difference from previous Think Rich Pinoy seminars?

a. Some attendees can get to play Cashflow 202. This is a more advanced GAME w/c contains stock options (puts and calls), network marketing, easier to bankrupt and harder to leave the rat race. Don’t

know what I mean? That’s okay, play Cashflow 101 instead. 202 is designed for the “veteran player” and those who believe they have what it takes to become wealthy in a short short time.

b. To enhance enjoyment, there will be a contest among tables to see w/c one group gets out of the rat race more. If your group wins, congratulations, you have learned more!

c. People who wish to leave brochures, calling cards, samples to market to the seminar attendees may do so using a promotion/marketing table.

d. One of the attendees (you?!) can get to win a one hour mentoring/Q&A session with Larry Gamboa. It’s a raffle.

e. All attendees get to receive (after the event) access to special ebooks:

- Master of Passive Income – by Jay Abraham

- 10 Mistakes Most Real Estate Investors Make

f. What’s an ebook?

It’s an electronic book, you read it from your computer. The format is normally Adobe Acrobat. To read it you’ll need the free Adobe Acrobat Reader from Adobe.com

3. How to register for the Think Rich Pinoy Events so I can participate?

You can pay the seminar fee via:

Bank Deposit: BPI Account Name: ESTI-TRP(Think Rich Pinoy); Account# 8291-0083-57. (Checking)

Paypal/Credit Card: Buy your seminar ticket by clicking this link.

Early Bird Fee is P1975 (until June 30, 2009) Regular fee is P 2450

4. How to confirm my registration?

Just email thinkrichpinoyseminar@gmail.com with the scanned deposit slip or paypal acknowledgment receipt with following data: Name, Address, Email Address, Cell # and Landline # AFTER you have paid via paypal or bank deposit.

5. Can we get a group discount?

If there are five of you, you can avail of the early bird discount (P1975.-) even until the last day of payment (July 31).

6. Other discounts?

If you want to attend AGAIN, you can pay 50% of the fee (P 2450 * 50% = P 1225.00) – just P 1225.00 to attend again and play cashflow 202 or 101, perhaps to challenge yourself. But you must hurry because there are very limited slots for these.

7. Maximum number of participants?

We can only accommodate 120 participants per session.

8. Is this a scam?

No. This is a financial education seminar and Cashflow game. The game uses play money. However, if your mindset is “scam” – unfortunately this is not the place to go – you won’t find any.

The goal of Think Rich Pinoy is to create wealth –using whatever legal means-though primarily through real estate – because that’s the safest way to go. You will not be required to buy property from Think Rich Pinoy people (at any given time we actually have only a handful available properties and we don’t get investors just because they have

the money) -you go buy them from sellers out there in the world. We just enable you to start building your wealth.

Real Estate Investing Wisdom is not taught in schools. That’s why we’re doing this. But the Think Rich Pinoy is NOT an end of learning,it’s a beginning -so please do not make the mistake of thinking you’ll become wealthy because of this one seminar.

You might get one idea that can propel you to become a millionaire, it happens quite a lot. You might get it from the people, the game, the seminar, who knows? The important thing is -you’re ready to accept that idea and run with it. That’s where Think Rich Pinoy comes in-we make you ready or at least we set you off to the path of becoming

wealthy.

9. Can i pay on the site (UN Avenue Venue)?

You may but there’s a danger of not being able to play cashflow as the slots are very limited. Better to secure your seat via credit card (using paypal.com Buy your seminar ticket here!) or deposit to the bank. If you’re abroad, the best way is to open a free paypal.com account, connect your credit card to it–following it’s directions –so you can buy a ticket online. Connecting your credit card to a paypal account is not a quick thing to do-so I suggest you do so now-even if you’re planning to pay later.

10. Schedule?

August 1, Saturday, 2009, 8am (we start promptly) to 6pm.

11. Venue?

Training Room of Philam Life, UN Avenue, Manila

12. How to get there?

Commuting:

Go down at the UN Avenue LRT station, walk towards the Manila Bay with Manila Doctor’s Hospital on your right.

The Philamlife Building is in front of the Manila Pavilion/Casino Filipino.

Yes, it’s ironic but that’s where the Think Rich Pinoy event is held. Enter Philamlife entrance (not the casino).

Just tell the guard “Think Rich Pinoy” and you’ll be pointed to a training room just beside the nice outdoor chapel in a garden is located – so it isn’t really ironic. Just fitting.

Toilets would be opposite the direction of the training room.

Car

If you have a car, the parking is on the back of the building. You’ll have to take the other street parallel to UN Avenue, that’s Padre Faura (from Taft in the direction going to Robinson’s Place Mall Faura

Wing) and turn right at M Orosa, so you can reach the Philam Parking (w/c would be to your right.)

Map

A google earth/maps copy of the area is found in

http://fireurl.com/cggb

13. Lunch/Snack included?

Yes, we will serve a morning snack and lunch.

14. What should I bring?

If you want an autographed copy of your Think Rich Pinoy books, bring them.Bring a camera and get a photo shoot with Larry Gamboa. Why? Because it works. Most successful people do that, why shouldn’t you?

Your choice.

15. When do you plan to do a seminar here in (Country,City)?

We’re coming up with a manual on how someone in your city can host a Think Rich Pinoy event. If you’re really serious about this, please contact thinkrichpinoyseminar@gmail.com and say “I want to HOST Think Rich Pinoy” and we’ll take it from there.

Right now TRP events are all held in Manila. You can “count the cost” and fly in- like some people do or simply wait it out. The most important thing is to DO SOMETHING.

By the way, did you know that you can still get your Think Rich Pinoy – Silver Membership for free? Click here to learn more, or you can  claim your free silver membership now before its too late!

Happy Learning!

To our financial freedom!

Jay Castillo
Real Estate Investor
REBL#: 20056
Blog: www.foreclosurephilippines.com
Social Network: foreclosurephilippines.ning.com
Mobile: +639178843882
E-mail: ph.investor@gmail.com

You’re Invited To The Think Rich Pinoy Wealth Seminar On August 1, 2009 is a post from: Foreclosure Investing Philippines