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MIG exists to serve the Memphis-area real estate investment community. Our mission is to provide our members the education, training, motivation and networking opportunities that will further the ethical investment in real estate.

 

If you think the price of education is expensive consider the cost of ignorance.

 

 

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The Importance of Having a “System”

The Importance of Having a “System”
By Jim Keller
Posted on 4/24/2014 11:11 PM

The Importance of Having  a “System” to

 Help You Manage Your Real Estate






Like so many things in life, if you have the ‘right’ tool, the task is easier and more efficient.

When I first joined MIG in December of 2002, I decided I wanted to get involved in real estate investing as a diversification of investments.  Not knowing where to start can be a frightening and overwhelming task that must be conquered.  The problem is “you don’t know what you don’t know” yet.  Time and experience will teach us many things. We can learn either  by first-hand experience or we can learn from others. That is one of the biggest benefits of being a MIG member. You get to learn from those that have done it before you. And hopefully, you won’t make the same mishaps that can happen.

 I remember hearing Arnold Dormer say “If I get one good nugget from buying a course, the price of the course is worth it”.  I wanted to share with you my thoughts on the importance of having a “system” to help you manage your real estate investments.  I took that comment to heart and Arnold was Right!

 

When Lou Brown came to Memphis Investors Group in August of 2003, I had prepared myself enough and knew I needed a better system that a series of spreadsheets to keep up with my business. I also remembered the wise words of advice from Arnold. So I bought Lou Brown’s course called THE WHOLE ENCHILADA.  This is a comprehensive course complete with a series of contracts, forms, checklists, instructions and how to do it advice that has proven invaluable. Yes it was a lot of money but it also delivered the goods. Many topics were covered including the following:

  • Renovations
  • Repair Management
  • Tenant Management
  • Wholesale
  • Retail Selling including Options to Lease Purchase
  • Renovations
  • Land Trusts
  • Agreement for Deed
  • Short Sale
  • Marketing & Prospecting
  • And more

Over the past 12 years I have made great use of this investment in my education and leveraged the many years of experience from what Lou Brown taught me. As a result, I have been successful in my real estate endeavors.   I have used key phrases in some of the contracts provided in the course that have saved me thousands of dollars.  With all this great information, however, one still always asks the question:

 

“Was the course worth the price? “ I can answer absolutely YES YES YES. I could not manage my business today without the use of the materials I got and learned from the Lou Brown course and the All Day Saturday workshop that was held in August 2003.  This was one of THE BEST investments I made in myself and in my real estate.  It was truly an investment in myself.  Once I made the investment I was determined to not let it die on the shelf.  I embraced the course, studying the materials and figuring out how I could apply them to my business. They are the foundation of my “system” that I use every day in my business.

You too will have a chance to take advantage of hearing more about this outstanding time proven course taught by Lou Brown himself in our upcoming May MIG Meeting and Saturday Workshop.

If you are serious about  getting started and taking the next step in your real estate career, there is no better time than now to do it and learn from the experts who have done it successfully before. I strongly encourage you to attend the May 8 monthly meeting and the Saturday May 10 Workshop and learn for yourself. Invest in yourself and your education. It is the cheapest way to be successful in Real Estate.

 

Jim Keller

MIG Investor