Cashflow Event 4/22/2016

I hold a Cashflow Game almost every Friday evening at 6pm.  I invite people to come and play to learn how to build wealth by buying real estate, businesses and stocks, and by reducing liabilities.  You would think the object of the game is to win before anybody else does.  Yes it is to win, but through cooperation.  The game teaches you how to manage your finances and that you need to have enough passive income coming from assets to equal or surpass your expenses in order to get out of the “Rat Race”, and on a deeper level learn how to analyze potential opportunities to see how you can buy it, or if you need sell it off to another player for a quick buck, or negotiate a joint venture with the other players in order to get a partial income rather than no income at all.

For people who are thinking about getting into real estate investing, this game helps them understand how to think and speak like an investor.  Words such as Return of Investment or ROI, cashflow, passive income and cash-on-cash return (CCR) are routinely used.  For many it is their first step into the real estate world.

This particular evening, I had invited two “newbies” seeking to discuss flipping homes with both myself and my business partner, Todd.  The intention was to introduce them to Cashflow so they understand that there is more to real estate investing than just “flipping homes”, and that they really needed to get properly educated and mentored or they can lose a lot of money, and of course we can help them get that needed education.

Usually, I have my team with all equipment ready to go. But, today people were slowly filtering in and I did not have all the equipment needed to get started (i.e. calculators, pencils, worksheets, etc.).  The first three people were “newbies” which included the two that I invited.  I was doing my best to keep them intrigued about what we were about to do. Then, two others showed up. They were an older couple and both had been to our Cashflow events in the recent past, but they were relatively new and still building relations within our community.  With 5 guests in the room, I wanted them to introduce themselves and what they did.  When I got to the couple, the woman (I’m trying to keep names out) introduced herself, told us what she did, and why she is here.  Then it was her boyfriend’s turn and things changed.  He introduced himself and how he at one time was worth over $2 million due to real estate, and then lost it all because of some excuse, and that he was obligated to come this evening as part of an agreement he made with his girlfriend.  Then, he proceeded to tell the group that he sees no value in what we are doing because nothing is being done to make any money and as far as he’s concerned this was a waste of time.

I have two new people investigating whether or not I was real and if they could learn from me and my team, and this guy was spouting off that this was a waste of time.  I was livid.  I wanted to kick the crap out of this guy. I did my best to hold my anger in front of everyone.  By this time, some of my team started filtering in so they caught my response.  I began to tell him that I completely disagreed with him.  This is an event to help new people understand what real estate investing entails and that they need to know what to do before they start putting any money down and making any deals.  I pointed at the newbies and said, “this is the first time you’ve met me, you have no idea what’s going on, but you want to invest in real estate and make big money.  I’m a real estate investor and Realtor, if I told you I had a deal right now where you can make $30,000 to $50,000 within 6 months and showed you the numbers, then asked you to drop $100,000 (30% – 50% ROI)…..would you do it?” They said “No”.  So why is that?  It’s because we have no relationship, they do not know if what I have is a good deal. They are not educated enough to understand the deal, nor know what I know and what I’ve done.  This event is not to make money, it’s to teach and offer them the opportunity to learn.

Eventually, Todd showed up with the rest of the equipment needed to start the games.  We had two games running and more people showed up.  The place was packed.  We actually had to move one game into another conference room.  I was thinking we may have lost the 2 gentlemen I invited due to the fact I was lacking people and equipment at the beginning, as well as the negative statements from the boyfriend.  But, with the help of the team to mentor the new players it made a difference.  They began to see that there is plenty to consider when making real estate deals and making money.  In the group this evening were four actual real estate investors that essentially impressed upon the new players that playing cashflow helps hone their skills for the real world, and indicated that it is a great tool to utilize.

At the end of the game, we go around the room to see what people have learned. I was especially interested in the new players answers.  One young lady’s answer was she began to realize there were rules she needed to follow in order for things to flow and to be successful.  My two guests expressed their surprise because it was not at all what they were expecting.  I asked if being mentored throughout the game was helpful?  Yes, they saw the value of having someone coach them through the game, especially since both were able to get out of the Rat Race and into the Fast Track.  Awesome!

So what did I learn?  Make sure I have all the equipment and paperwork before game start. Have a story to stall the game if needed. And, realize that I may have some negative people in the group and that I need to know how to counter them with the truth.


~ by Llew Quinol on April 23, 2016.

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