I remember watching Wayne Gretzky when I was growing up. I’ve always been a big hockey fan, and I loved watching the great one play. Let me toss in few highlights for those of you who might want to jog your memory.

The great one had some excellent advice for anyone who was striving to achieve more. I’ve included two of those in this article below.

1. Focus on the Fundamentals
The great one once said, “The highest compliment that you can pay me is to say that I work hard every day, that I never dog it.” He was an absolute master with the puck, and one of the things that made him so great was his focus on the fundamental of the game.

Real estate investing is not so much different from the game of hockey. The great ones focus in on the fundamentals of their game, and never get away from those fundamentals.

I’ve noticed that when I get away from the basic things that make you money in real estate investing, my bottom line suffers because of it. The basis of real estate investing is having a deal to work with. One of the most basic principles in real estate investing is that you make your money when you buy properties. You get paid when you sell the property.

That makes the offers you make very important. When I get away from doing marketing to generate leads so that I can make offers, I don’t make money. It’s that simple.

Lately, I’ve had a lot of the cash I typically roll from deal to the next tied up in rehabs and properties ready to be fixed. In the past, I would have just stopped making offers until I had my projects finished up, but they up and down is not healthy for my business.

2. Make Offers Especially When the Timing is Bad
The great one also once said, “You miss 100% of the shots you never take.” True, so true. I’ve learned to discipline myself to go out and make offers regardless of my cash situation.

It’s actually a healthy habit to develop because the lower my cash reserves are at the moment, the harder I push sellers to give me very favorable financing terms. In fact, I’m doing a purchase on a 6-unit property right now in which includes:

1. Most of the financing from a zero-interest loan I’m getting from the seller,
2. Taking over a loan subject to the seller’s existing financing, and
3. Taking out another loan to pay for repairs and a small down payment to the seller.

I think you call that a hat trick.