Winning Through Intimidation is an amazing book by Robert Ringer. If you are an entrepreneur or in real estate it is a must read. Below are the 10 best real estate tips from the book.
1. Makeable deal theory - Robert Ringer says you should concentrate on a few makable deals rather than one miraculous deal. Focus on serious sellers and serious deals.
2. Mortality theory - With this real estate tip you should aim high and move fast don’t waste time. You have a limited time on earth take the largest piece possible rather than crawling our way through the ranks.
3. Ice ball theory - This states that you should not completely stress out over shooting high as a real estate agent or investor because in 50 billion years nothing is going to matter.
4. Fiddle Theory - This means that time kills all deals, the longer you fiddle around with a deal the odds it will never close. Circumstances change with lenders, other people might get involved, things can change. As a real estate investor and real estate agent I have direct experience with this theory.
5. Leapfrog theory - This states that no one has to work his way through the ranks, you can just leapfrog the crowd (story of the doctor who left his town went to LA became a celebrity doctor). You can proclaim yourself at whatever level you want so long as you can back it up, you don’t need to wait for anyone to anoint you the expert or negotiate your way through to the top.
6. Organic chemistry theory - This means that bigger the braggart the less successful they are. What someone else knows does not affect your knowledge. It reminds me of the agent who will tell you everything about real estate investing but he’s never actually done a successful deal. You don't even need to negotiate with these people just ignore them.
7. Uncle George theory - Working long and hard hours is relative, hard work does not assure anyone of success. He had an uncle that was an entrepreneur and would work 14 hour days every day in the corner store but just got old and not rich. In many cases it makes sense to sharpen your saw think about leverage or recharge rest and come back stronger and outsource different things.
8. Theory of intimidation - the results a person achieves are inversely proportionate to the degree which he is intimidated . The deals in which he had been intimidated the most he had taken the biggest financial beatings and the one which he was intimidated the least he walked away with the most chips.
9. Posture theory - It is not what you say or do that counts but what your posture is when you say or do it. Robert Ringer was a private jet flying, huge deal negotiating. mysterious and powerful broker from a different city. He would show up like no one else.
10. Preparation and positive mental attitude - a positive mental attitude is the result of being prepared . Prepare for the best but assume the worst because many deals do not close that are beyond your control, learn and move on.