Don’t have much cash but want to invest in real estate?

Want to get SBA loans and special loan programs so you can buy real estate investments with only 5-10% down?

One word for you:

Don’t.

Here’s why

👇👇👇

I've been serious about personal development for 10+ years.

But not just reading...

I've put the concepts to work - we sold our business for 7 figures and built a real estate portfolio worth $100 million +.

Here are a few of my top takeaways:

20% of your customers will produce 80% of your profit.

20% of your customers will also produce 80% of your headache.

The sooner you learn THESE AREN'T THE SAME CUSTOMERS the sooner you can grow, scale AND experience less stress.

99% of people network all wrong.

With their hand out.

Help me. Do this for me. Introduce me. Me me me me!

It’s not about you!

The way to network well:

Get good at something. Put in the work. Add value everywhere you go. Then watch your network explode.

The 4 quadrants of time management concept changed my life.

Urgent + important is where stressed out owners spend their time.

Not urgent + important is where you add long term value to your company and your life. Its also the easiest area to push to the back-burner and ignore.

3 keys to hiring and managing great employees:

#1 Raise your prices (so you can afford them)

#2 Simplify the job so average employees can thrive (and killer employees can crush it)

#3 Give them praise in public (it means just as much as money)

Don't identify yourself with any one business or one industry.

Be an open-minded opportunist.

Entrepreneurship culture in America is all messed up and it’s a shame.

TechCrunch. Product Hunt. Shark Tank.

It’s all about new ideas. Changing the world. Innovation. 0 to 1. Blue ocean. Venture capital and exits and scalability.

And ITS ALL A LIE.

You ask the average american who a real entrepreneur is they’ll say Jobs, Musk or Zuck.

We read their books and idolize them and hang on their every word.

So the brightest among us think they need a moat. A new idea. Something revolutionary.

Were setting them up for FAILURE.

I took an entrepreneurship course at Cornell in 2011. 24 kids with new ideas. Big plans. Pitch decks looking for series As.

I was #25 with a regular old-fashioned business.

When professors asked me what my differentiator was I didn’t have an answer.

I saw a company out there doing sweaty, non scalable work. They were terrible at it.

I started by trading my time for money. Bought a $1500 cargo van. Used the things I had in my life to make some profit.

I wasn’t trying to educate a customer base.

I wasn’t following my passion.

I didn’t need funding or a network.

I wasn’t competing against brilliant folks from Stanford.

I want trying to prove a concept.

I wasn’t emotionally attached to anything except adding value.

As a real estate entrepreneur you need a certain mindset to win.

From sourcing deals to dealing with bankers to deploying capital...

There are certain attributes that make you BETTER at creating long term wealth.

A thread 👇👇👇

RE is all about generating what we call YIELD.

Yield is the return on our precious capital.

And it comes in two forms:

Cashflow - the cold hard cash it puts in your pocket.

&

Appreciation - the additional VALUE to a buyer or a banker above and beyond what you paid.

And before we start. A note on YIELD.

It's getting harder and harder to find.

Capital is plentiful and yield is scarce.

Folks are chasing deals with less and less of it and they are taking more risk to get the same amount of it.

The amount of yield you get from a real estate deal is all relative to the amount of risk you take.

A risky deal deserves more upside and thus more yield.

A safe deal deserves less upside and thus less yield.

The winners think about one thing only:

Risk-adjusted yield

Successful real estate folks have a long term mindset.

The folks who win in real estate don't buy-in to the "life is short" mantra.

They know that life is long. And they are fine to do work now and get paid later.

TIME is what makes these folks wealthy.

They get paid to WAIT.

A hill I'll die on:

95% of entrepreneurs should forget about technology (a few big fish and a lot of sophisticated fishermen) and focus on small business (small fish everywhere and really crappy fishermen).

A THREAD:

Be like water.

Take the path of least resistance.

The goal of every entrepreneur should be:

#1. Gain financial freedom

and

#2. Maximize probability of achieving #1

Because when you have financial freedom your world opens up.

You can start doing what makes you happy.

And you can positively impact a lot more people with project #2, 3, 4 etc. You're in a position to try to change the world if you have financial freedom.

So why don't more folks think about opportunities with more weight added to #2?

The odds part. The risk. The probability.

The amount of small businesses in America that absolutely print money and still do business like it’s 1985 is astounding.

As a former professional poker player, I'm very clear about the importance of psychology in investing/trading.

You can have a very solid strategy, but if the mental aspect fails, everything fails, no matter how good you are.

Thread 👇

In this thread I will briefly describe the most important aspects of trading psychology, and give some simple tips to try to improve them.

It's good to always be aware of these aspects, to be able to detect them and act in time.

1) FEAR

This is one of the most important. It can make you get out of a position at the wrong time.

One of the main reasons you can have fear is because you are putting more at risk than you are willing to lose.

Tip: reduce the size of your position until you are comfortable.

2) GREED

Greed can be even worse than fear. It leads you to be overpositioned and to destroy your average entry.

Tip: learn to conform to what you have. Practice gratitude for everything that comes your way. Remember that the most important thing is to stay in the game.

3) TILT

This is well known in poker. There are many reasons why tilt can appear (downswings, injustice, mistakes...)

Tilt takes you away from your perfect strategy. From your A game.

After a losing streak you may think that the market is being unfair to you.

FINDING EDGE IN OPTIONS

24/08/15: Nifty gap down 250 points & another 250 after that. Previous few months return gone, but since I'm quick to take my losses, was saved from ruin. Before that my only edge in option selling was adjustments & my forever edge of following PA. (1/n)

I soon realised that theta decay with sound adjustments is not an edge, which i earlier thought was & which gave me good returns over the years. After that i went deeper in understanding volatility behaviour, how/where it manifests & all the discrepancies in option chain. (2/n)

With finding edge in logistics i mean how to keep the greeks in check, SL in place & optimum ways of adjustments with minimum slippages. So the main aim here is to write theta without following vol behaviour & having any actual knowledge of what's going on in the markets. (3/n)

A dedicated trader can learn all this in few years & it is something which is 'obvious' to become successful. But majority can't reach this level, as this also requires consistent hustle in live markets. All the seminar/webinar business teaches you till this level only.(4/n)

If you get passed this level though, the real work starts, when you have to find your real edge. This can't be taught in a webinar. It needs serious introspection of your trading skills, psychology & strategies in use, which ultimately allow you to book excellent profits. (5/n)

A thread on SCALING IN - OUT METHOD -

What is scaling in - out?

1. Scaling in is adding on to the positions when they move in our favor (Pyramiding).

2. Scaling - out is exiting the portion of the position when the trade moves in our favor.

I have explained about pyramiding in previous tweets.

// Why use scaling out instead of exiting all position at once ?

When you are using ALL - out method where you exit positions at once, mostly you use wider Trail SL as you want to capture big moves and exit all when trail sl hits.

The problem with this method is that either you make too big or many times your medium size winners turns out to become Scratch trades.

So, when we use the scaling out method, we are trying to capture most of our medium size trades , so that they do not turn into scratch trades.

// How to use scaling out method -

Say we have to got a signal to enter in a trade, and we have to buy 1200 qty according to our Position sizing.

So, we have to divide this 1200 qty into parts, how much? It depends on you.

We can divide into 3 parts, each part 400 qty.

ChartIQ charts on Kite web just got an upgrade with custom timeframe charts, new indicators, backtesting from charts, and much more.

Here’s how you can switch to the new version of ChartIQ: https://t.co/rhXrQ330G7

A thread on all the new features 👇

Custom timeframe charts

Charts with timeframes of 75 and 125 minutes were amongst the most popular feature requests. With the custom timeframe feature, you can now not only access 75 and 125-minute charts, but you can also do so for any timeframe of your choice.

Download historical data in CSV

You can now download chart data to Excel to run your own analyses.

Backtesting from charts

@StreakTech allows you to create and backtest trading strategies without any coding. Streak is now integrated with Kite charts. Clicking on the Streak icon will start a backtest of widely used strategies with the indicators applied on the charts.

Shortcut keys for various functions

Chart shortcuts are now available on ChartIQ 8. Shortcuts can be used to quickly perform actions such as invoking the order window, accessing drawing tools, zooming, etc.

"90% of the traders lose money, But do they lose it all the time?"

Most of them do make money, its just that they give it all back.

Lets analyze why and how a trader makes and loses money
[Thread]:

Below is the equity curve which is most traders dream.

This is equity curve of an average trader:

Most traders do make money, but they give it back to the markets .

Because of trading errors.

What are trading errors?

Trading errors are those errors which happen because of wrong Position sizing, Leverage , etc.

I am not making this up, check your P&L, 90 % of your losses would have come from less then 10% trades.

Most of these happen because of No knowledge, No plan, bad position sizing .

Now, we know what's the problem, lets talk about the solution.

1. Learn the Basics first-

If you don’t get the basics clear then how can you make money?

Learn How to use Support and resistances
Learn How to use trend lines
Learn about trend, it will solve 90% of your problem