Do you want to 10X your REI Biz? It all boils down to mindset. Host Stacy Rossetti shares 10 ways how you can do just that. The first is to foster an abundance mentality. There’s no such thing as competition because there’s enough for everyone. When you believe that you’re abundant, you become a money magnet. And you’re no longer afraid to ask for what you want. If you don’t, you won’t get it. There’s nothing wrong with asking for help because you shouldn’t do everything yourself. If you want to know the other nine strategies, don’t forget to listen to this episode.
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10 Ways To 10X Your REI Biz
Ten ways to 10X your business to achieve the legacy you want. That is the topic of the session. Let’s see how we can 10X our business. We have already talked about who I am. You know that I have been investing for many years but the truth of the matter is that when I ask myself, “Who am I?” There are a couple of things that come to mind. I want you to let me know who you are. The point is that whatever you say after the words “I am” is really who you become, and I think about this all the time.
As Stacy Rossetti, I am a connector. I love putting people together. You can see that through REI USA. The whole purpose of REI USA is to connect you with investors across the country that have the same vision that I have. When you get to a point in your life where you have done what you have needed to do or you have done a lot of what you needed to do, serving others is very important to us.
I hope that you can see as you go into the live sessions, the teachers of REI USA are here to serve you. They are awesome and amazing at it. My job is to connect you with teachers that believe in this. I’m not only a connector through REI USA. I’m a connector in life, and I have been that way. I like to say that I’m a connector. I’m always connecting people. I am generous.
I feel that I give a lot of my time. Christy was talking about this in her session, as well. She is the type of person that likes to help others. I feel I am the same way as well. I love being to help people, answer your problems, show you which direction to be going in. I’m here to help you on your journey. You will read this over again because this is my motto.
I am generous and I’m a facilitator. I love doing things like this and leading communities. That is what I love to do. I have always been community-oriented. Even back years ago, I always had some community that I have run and before South Atlanta REIA. When I lived on Long Island, I had a social community that I did. I’m very community-oriented.
10X Your REI: If you need to raise money to do deals, tell yourself, “I’m a money magnet.”
I worked in the wind turbine business for a long time and built winter turbines. That is a certain type of community. It is a community that relies upon and loves wind energy. I have always been community-oriented. When you manage a community, that means that you are a facilitator, and that is what I am. I love managing communities and connecting people within those communities.
Finally, I’m a money magnet. I am very good at raising money. I did not know that until I became a real estate investor several years ago. I was a part of a community. I learned how to invest in real estate through a community like this. I had coaches and people tell me what to do. One of my coaches early on said, “Stacy, you are a money magnet. You are good at raising money. People connect to you, and because of that, you are going to do well.”
When he told me, “I’m a money magnet,” it changed my life. I did not know and believe this at all because I was the same type of person that I was. I was the one that was like, “How in the hell am I going to do this? I have no idea. I’ve got to get out there and find money to do all these bills. How is that going to happen?”
I’ve got out there and started talking to people. I am asking people if they would loan money to me, and I started getting good at it. Once I started believing in myself and thinking over in my mind, I’m like, “I am a money magnet. You are right. I’m good at raising money.” What I want you to do is to start putting this into your mind as well too because the truth of the matter is that you are what you believe. If you need to raise money to do deals, which we all do, you should be telling yourself, “I’m a money magnet.” The universe listens.
Now that I have been through what I am and these are the things that describe me, notice I did not put, “I am a real estate investor.” I’m not a real estate investor. I am a person that is here to do the best I can. Real estate is a means to an end. It is a product. I do not want to be described as a real estate investor. I want to be described as a connector, generous, facilitator, and money magnet.
[bctt tweet=”Be generous and help others in their journey.”]
My question to you is, describe who you are. “What are the words that would come after the word, I am?” Whatever you say after “I am” is what you create. If you say “I’m broke,” you can be broke. If you say like, “I’m having a shitty day,” you are going to have a shitty day.” I would love to know what you are thinking. I have got some people finally, “I am a problem solver. I am blessed.” Everybody put one thing in there. I love, “I’m a problem solver.” That is true. That is something that is also important, “I am a servant that helps others achieves their needs and wants.” Does anybody else have any suggestions of “I am?”
If you could say whatever you are afterward, “I am a facilitator.” Christy, you are good. You are a Community Manager and a facilitator. Anyways, this is the year, in 2022, whatever you say after the words “I am.” It is who you are going to become. The reason I talk about it is that if you want to 10X your business, you have to believe in the type of person that you want, that you are, and the way you want it to come, 10X in your business is nothing but a mindset.
What is your legacy? Everybody has to be thinking about what their legacy is. What is the purpose of getting into real estate investing? My legacy is not anything that has to do with me at all. It has to do with my daughter, Lillian. My legacy is going to be the type of person that she grows up to become. That’s what my legacy is going to be.
I think about this all the time, “What type of person is Lillian going to become?” What I wanted to show you is what I put together. I want her to be loving, empathetic, generous, altruistic, compassionate, and I want to know what her why is because her why is my purpose. My why is making sure that Lillian’s why is achieved. Think about what your legacy is going to be. What is the purpose of you getting into real estate investing?
[bctt tweet=”Dig deep and figure out the underlying reason why you’re getting into real estate investing.”]
I would love to know what your purpose is. Why are you getting into real estate investing? Everybody always says, “Freedom, time, and money.” The truth of the matter is that there is an underlying reason why you get into real estate investing. You should dig deep and try to figure that out. I have thought about that quite a lot. Lillian is my why, and making sure that she achieves her goals is my purpose.
Abundance
We are going to get into the 10 ways to 10X your business, and this is all mindset. I’m going to give you ten reasons why I believe that I have been successful in my real estate investing career. The first one is abundance. I have an abundance mentality. There is enough to go around for everybody. There is no such thing as competition. I hear it in the storage investing world all the time, “Who is your competition. Check out the prices.” The truth of the matter is there are enough to go around. Keep that in mind. There is no such thing as competition.
Ask and you shall receive. I talked about this before. I’m a money magnet. I have no qualms with asking people for money and doing anything for me. What I have learned early on in this career is that if you do not ask for what you want, you are not going to get it. If you need something, you need to ask for it because otherwise, if you do not, that means that you become an island. You are solving all your problems and doing everything yourself.
What You Think, You Become
Get into the mindset. There is nothing wrong with asking for what you want. Another thing I would like to suggest is it is all mindset. This is a book it is called Unfu*k Yourself. Has anybody read this book? If you have not, I highly recommend that you read this book. It is an easy read. It does not take long, and it is on Audible. It is good because the author reads it, and he does a good job at reading it. It is a book about mindset. It is all about what you think you will become. You have to unfu*k yourself. That is what you’ve got to do.
Be Resourceful
Another thing is to be resourceful. I tell my students this all the time, “The best investors are the most successful investors.” What that means is that you need to be able to think outside the box and pull $10,000, $100,000, $200,000, $500,000 or $1 million out of your ass. You need to be able to find contractors and, as Edward said, “Solve problems.”
Unfu*k Yourself: Get Out of Your Head and into Your Life (Unfu*k Yourself series)
In the real estate investing world, there are a lot of moving parts. You have got to be able to be creative to solve problems, think outside the box, pull money out of nowhere, and be able to keep moving forward. I was talking to one student, and he was like, “I want to learn how to do this. I cannot find the money to learn, go out there, and market. I can not do this.” I said, “If you cannot figure out how to do it, how are you going to do it? That is, everybody does it. They figure out how to do it. You need to become resourceful. You need to start thinking outside the box.”
He started thinking outside the box and doing well. I’m proud of him. Be resourceful. This is not easy. Let’s try to think outside the box. You also need to learn how to build credibility and do this at all costs. All of these teachers here for REI USA, one of the reasons they are teaching here is because they want to build this credibility.
How can you build credibility? You can utilize social media and post out all the different things that you are doing because what that does is what I call planting the seed. It gets people intrigued with what you are doing. You want to be utilizing social media and online marketing nowadays. Social media is the best way now to build credibility.
If you are the type of person that needs money to do the things that you want to do, start planting the seed and posting everything that you do on social media. You’ve got to get over, “I do not want to be on social media. They are watching me.” Whatever it is. You’ve got to get out there and post out what you are doing because that is the first step in planting the seed to find money, properties, contractors, and to build the backend of your business. What are you doing now to build credibility? Is anybody doing anything? If you are doing anything, post it. I would love to know what types of things you are doing to build credibility.
You have to be thinking about cashflow at all times. When I talk about cashflow, I talk not only about how to manage your business and have cashflow in your business or buy rental properties and have cashflow. I’m talking about how many different ways are you making money? Gone are the days where you have only one way to make money.
If you are not making money in several different ways as you heard from Christy. She is doing Airbnbs, flips, mobile homes, renting, arbitraging, and all kinds of stuff like this. The one thing that I love about real estate investing is that there are many different ways to make money. We have lots of different ways that we make money and I encourage you to figure out how you can make money. I talked to somebody, she wants to lend money to me. She has a used car dealership, an eCommerce business, and passive income investing. She has several different ways of making money, and this is how you have to think, too. You cannot just have one way of making money anymore.
10X Your REI: Social media is the best way to build credibility.
Connect With A Community
You already know that I’m all about community. You want to make sure that you are part of a community where you can connect with people that understand what you are doing. When I’ve got started in real estate investing, everybody told me I was crazy. The good thing is that I was a part of a community where I felt like I could fit in, and people understood what my goals were. That is what you need.
Make sure that you are surrounding yourself with people that you can connect and collaborate. I appreciate you joining REI USA. We are all here to help you to do that. One thing I love about everybody that teaches is that we are all regular people. We are not super big, huge gurus and stuff like this. You can do what Christy said, contact her on Facebook and talk to her. That is how all of these teachers are, Annie and every buddy. Make sure you have a community where you can collaborate and connect.
Learn How To Delegate
Another thing is that you have to learn how to delegate. You are not an island. If you end up doing everything yourself, you become an island. The truth of the matter is that there are way too many parts for you to be doing everything anyway. A lot of people have a hard time relinquishing control. My husband is also the same way. I say this all the time. He hates letting other people do stuff. He struggled with that over a couple of years.
When you have eleven storage facilities, you cannot be doing it yourself. We are slowly growing our team. I have no issues with delegating at all. I’ve got a huge team and I delegate everything to everybody. I manage what I do. I get to boss people around. That is what I’m good at. That is what I do. My husband is the opposite. He wants to do everything himself. I will be like, “How do you do this?” He would be like, “Get out of the way. I will show you.
[bctt tweet=”Make your processes and systems as simple as possible.”]
You need to get good at delegating and relinquishing that control because there are a lot of moving parts in this world, and the truth is if you do not delegate, how are you going to be able to do multiple streams of income? We were at the Tony Robbins conference, The Business Mastery Conference. This guy has a gazillion businesses. All he does is manage all his businesses. He is good at delegating and letting other people manage those.
Don’t Be Greedy
Do not be greedy is the next one. I have learned this the hard way. It is hard not to be greedy in this business because you want to push the numbers on everything. The truth of the matter is when you push the numbers, a lot of times, you are biting yourself in the butt. You need to sell and move on. Especially with contractors, there is always constant arguing with contractors.
I will say, “Move on.” If you start finding yourself having these feelings inside of annoyance or being, “I’m pushing myself.” Do not be greedy and move on. Less is more as well, too. I always tell my students like Christy is also does the same thing. She gets in there and does $30,000 rehabs on houses. A lot of people think that you have to gut the whole thing and start from the very beginning. You do not have to do that. Especially nowadays, people are okay with having a place to live and buying something that looks nice. You don’t have to be super customized on your flip and all this stuff anymore. Less is more, and it is okay.
Educate Yourself
I’m always educating myself. You should always be educating yourself. I have been doing this for several years and every year. I have been in some coaching programs and always had mentors. If I find myself struggling to get something done or to know how to do it, I hire somebody to tell me what to do. I don’t have time to be beaten around the bush anymore.
10X Your REI: You need to sell and move on.
I’ve got things to do. If I can hire somebody and tell me what to do, that is what I’m doing. That is where I hope that you are and become. The truth of the matter is that you will be able to scale up if you learn how to delegate. You are always educating yourself and have coaches and mentors. That is the whole purpose of REI USA. Think of us as small group coaches. As we grow, year after year, we will get bigger but you are in the running because when you show up, there is only a handful of people at the session, and you could ask whatever questions that you want. Take advantage of that now.
Give Back
Another thing is to give back. That is the purpose of our REI USA. We are all here to give back but be generous and give back because the more that you give, the more that you receive. Think about the ways that you can do that. I have learned over the years the more I serve, the more I get in return. That I hope resonates with you. The more that you serve, the more you are going to get back.
Have Goals
Always have goals, and when I say goals, it does not have to be our real estate investing goals. My goal is to travel to one new country a year and build one new multiple streams of incoming a year. I have been to over 40 countries, and we have at least fifteen different ways that we make money. That is us adding new streams of income every year, taking vacations, and spending time with our family.
Whatever your goals are, it does not matter what it is. Have 1 or 2 major goals that you can work towards because real estate is a product for a means to the end. Nobody goes in and says, “I want to rehab homes forever for the rest of my life. I want to rehab home, so I can do this.” Those are your goals. The question is, “What is your why? Why are you here? Why are you learning how to invest in real estate? What is your end goal? What is your end game?” We live in an RV and travel. We will do that as long as we possibly can until we get bored, and then we will settle down and figure out what our next thing is but we will always be traveling and adding new streams of income.
[bctt tweet=”Create your legacy so you can pass it on to your family.”]
Keep it simple. You do not want to make things complicated. The more complicated it is, the most likely you are not going to do it. We want to keep things as simple as possible. Do not overdo it. In terms of real estate investing, make your processes and systems as simple as possible. I put systems in here as well, too. Be systematized and organized.
All the teachers and investors that you hear are systematized and organized. You want to be able to systematize everything internally in your company. The more systematized and organized you are, the more likely you will become more successful in your business. Keep that in mind as well. Also, go electronic.
We are completely virtual. We run all of our businesses from our RV. You could do this as you could do this because we are in a virtual world now. You might as well take advantage of it as you possibly can. If you are a rehabber and you are rehabbing homes, you should be able to manage everything from your phone as you are out and about.
You do not want to have to come back and sit down at your desk. Now, some people do but you want to be as electronic as you possibly can. The world is cloud-based. I remember back in the day, when people were talking about the cloud, I was like, “What the hell is the cloud?” Now everything is in the cloud. It is awesome.
Be A Cookie Cutter
Be cookie-cutter. Everybody that you are talking to that you are going to hear now, everybody is a cookie-cutter. All that means is that we have got systems in place. We can do more than one deal at a time. You need to be as a cookie-cutter as you possibly can, in rehabs, you are landlording, your Airbnbs, whatever you are doing. That is systems equal being a cookie-cutter.
10X Your REI: You don’t have to be super customized on your flips; less is more.
How do I 10X my business? These are all the ways that I believe that I have 10X my business. These are the reasons why I have been successful. I have an abundance mentality. I am not afraid to ask for what I want. I am very good at delegating and building credibility. I have systems in my business and I do not have to be anywhere near my storage facilities.
All my storage facilities are in Georgia and Florida, and we are in New York now in the middle of a blizzard. That is the system. Surround yourself in a community that is going to accept you, hold you accountable, be a family, and always be educating yourself. Learn how to become resourceful and find the things that you need when you need them. Whatever that is.
Do not be greedy and do not push the numbers. You do not need to do that. Keep it real like Christy says and keep moving forward. Keep it simple. Do not make things complicated. It is not that complicated. Always be adding multiple streams of income and thinking about your cashflow. How are you managing your money? If you don’t know your numbers, you are not going to become successful.
Serve others, try to figure out how you can give back, and have goals. Try to figure out what your why is and what is the end game, and then create that legacy so that you can pass it on to your family or you can have that legacy that you have been thinking about. What is your legacy? These are the ten ways that I 10X my business. After this presentation is over and all of these here, which of these resonated with you the most? Which of these do you say, “I do need to work on this one?”
Important Links
- Unfu*k Yourself
- Audible – Unfu*k Yourself
- Facebook – Christy Duckett
- The Business Mastery Conference
- https://www.REI-USA.com/stacy-rossetti
- REI USA
- http://www.rei-usa.com/membership/
- http://www.REI-USA.com/trainings/
- http://www.REI-USA.com/ teachers-spotlight/
- http://www.rei-usa.com/free-template/
- https://www.instagram.com/reiusa_/
- Free Online Jumpstart Course for Real Estate Investing: https://bit.ly/3IrDji9
- REI USA Youtube: https://bit.ly/36QPoQl
- How to Get Started Investing in Real Estate: https://bit.ly/3pIxB4r
- Talk to Kristi, Our Community Manager, for a FREE 10 Minute Website Demo: https://bit.ly/3pIxB4r
About Stacy Rossetti
Real Estate Investing – My Journey, My Career My Life
As a real estate investing expert and coach, I have built my name on the results I have created – for myself and for my students.
Investing in real estate has changed my life, opening doors for me and my family and affording me an outlet for all my creative and entrepreneurial energy. Through scaling up a renovation company in Atlanta with hundreds of transactions to learning to invest passively through creative financing deals and storage facilities, I have not only overcome many trials and tribulations, but systematized and organized my days so that I can run several successful businesses.
Day after day, I work hard at what I do, striving to stay ahead of the curve by building on my knowledge and making shrewd decisions. This did not happen overnight, of course. My early days in real estate were slow, exhausting and hard, but little by little, I earned a sense of what worked and what I needed to do to achieve consistent results. Because I taught myself all this learning through experience and mentors, the process was gradual and required the utmost diligence on my part.
Today, I own and operate REI USA and StorageNerds. REI USA is an online education and networking platform that is exactly the tool that I would have wanted when I was getting my start, something that aspiring and established investors can turn to, a means to cutting your learning curve dramatically. Together my husband Pete and I currently own and operate eight storage facilities. Investing in self-storage is our passion and how we have decided to build wealth. It is the best kept secret in the investing world and I don’t know why more are not investing in it.
In addition to investing in real estate myself, I have since discovered another passion in my life – coaching and empowering others. Whenever I see that I have guided someone toward a breakthrough or helped them to transform themselves professionally, I feel deep fulfillment, confident that I am on the right path and reinvigorated to go out and do even more.
As a coach and teacher, I specialize in helping my students navigate real estate investing, rehabbing, and storage facilities. These are all complex, involved topics, but I have honed my ability to communicate the intricacies – and found ways to demystify them efficiently. Seeing the light go off in my students’ eyes, I know that the magic is happening, and in everyone I teach, I recognize myself – wide-eyed, hopeful, firmly believing in all the opportunities that real estate investing can present. For years, I have connected with my students through workshops, offering a glimpse into the thought processes and techniques that have led to my success.
In order to share my knowledge with as large an audience as possible, I have currently expanding beyond person-to-person coaching, developing a Self-Storage Investing mastermind and group coaching mentorship called StorageNerds. This mastermind draw on my years of experience in real estate and self-storage investing and break down my ideas and strategies in a way that even beginners can digest.
My passion is to help beginner investors learn to invest in real estate and my mission is Affordable Financial Literacy. REI USA embodies this mission by engaging those that truly want to learn to invest in real estate but don’t want to go broke doing it. Over the course of the last five years my husband and I have spent many years perfecting how we find, fund and run our storage facilities so we can be anywhere in the world. Our facilities are truly passive income and we love sharing our tips and tricks on how we manage them through our StorageNerds mastermind.
Renovating my first home in 2012, I knew that I had stumbled upon something big – a calling, a vocation, a passion. There was no doubt in my mind that I was going to stick with real estate and give it everything that I had. Collaborating with my husband has been a bonus, and I am grateful every day for the career that he and I have created together.