Building a Successful Real Estate Business: Insights from Shamus Goss
Today, we take a look at Shamus Goss' journey, an entrepreneur with over three decades of experience in three different industries. From the music industry to athletic apparel and now real estate, Shamus has built multiple successful businesses and has a wealth of knowledge to share. Let's dive into his journey and see what we can learn about wholesaling and real estate.
Background and Entry into Real Estate
Shamus Goss's entrepreneurial journey began at the age of 17 when he managed an independent record label in the music industry. He later ventured into the athletic apparel business and eventually found his way into real estate. Shamus initially attended school for construction management with the intention of building houses. However, he quickly realized that swinging a hammer wasn't his passion.
After exploring other industries, Shamus finally entered the real estate market. His first experience involved purchasing a five-acre piece of land and a house for renovation. However, the project turned into a disaster due to bad contractors and unexpected costs.
Despite these setbacks, Shamus was determined to learn and succeed as a real estate entrepreneur. He found mentors who taught him the ins and outs of the industry and helped him gain valuable experience in rehabilitating properties.
The Importance of Mentorship
Shamus emphasizes the value of having a mentor, especially for newbies in the industry. A mentor can significantly reduce the learning curve and guide individuals toward success. It's essential to choose a mentor who is still actively involved in real estate and has a proven track record.
As a mentor himself, Shamus believes it is his duty to provide his mentees with proof of concept. However, he expects his mentees to put in the necessary effort and take action. By combining their dedication with his guidance, they can accelerate their progress and achieve their goals.
Lessons from the Music Industry
Shamus's experience in the music industry provided valuable lessons that he carries with him in his real estate endeavors. He learned the importance of professionalism, running a company, and effective marketing. In the music industry, marketing and sales are essential for success, and the same applies to real estate. The more you invest in marketing, the more leads you generate, and the more deals you can close.
The Advantage of Starting Early
Having started his entrepreneurial journey at a young age, Shamus encourages young individuals to take advantage of their youth. He shares his own experience of selling goods as a child, highlighting the importance of starting early. With access to the internet and various resources, young entrepreneurs have endless opportunities to start their own businesses and gain valuable experience. Early exposure to entrepreneurship often leads to a lifelong passion for independence and success.
The Power of Sales and Building Trust
In the real estate industry, effective communication and sales skills are essential. Shamus emphasizes the importance of listening more than you talk when engaging with sellers. By listening attentively, you can understand their needs and provide appropriate solutions.
The key is to have a genuine desire to serve and solve problems for homeowners. This approach builds trust and establishes a solid foundation for successful deals.
Shamus recommends asking open-ended questions that encourage homeowners to share more about their situation. By giving them an opportunity to express themselves, you can better understand their needs and tailor your solutions accordingly. It's also crucial to involve all decision-makers in the conversation to ensure everyone is on the same page.
Balancing Self-Care and Entrepreneurship
Shamus understands the hustle-and-grind mentality that entrepreneurs often adopt. However, he also recognizes the importance of self-care and maintaining a healthy work-life balance. He advises entrepreneurs to prioritize their well-being and implement self-care practices.
Shamus starts his day with an hour of prayer, meditation, and visualization. This practice helps him stay calm and focused throughout the day. He also incorporates cryotherapy, chiropractic care, IV drips, and massages into his routine to manage stress and take care of his body and mind. By prioritizing self-care, entrepreneurs can prevent burnout and sustain their motivation and productivity in the long run.
Building a Personal Brand
As someone who has successfully built a personal brand, Shamus understands the importance of personal branding in the real estate industry. He advises individuals to choose three aspects or topics they want to be known for and build their brand around those. Shamus personally focuses on real estate, travel, and motivational content.
To effectively build a personal brand, it's crucial to consistently post content on various social media platforms. Shamus recommends being at least a month ahead by recording content in advance. This allows for consistent posting without the stress of last-minute editing. In addition, he suggests investing in paid advertising on platforms like Instagram and TikTok to increase visibility and reach a broader audience.
Shamus Goss's journey in the music industry, athletic apparel business, and real estate provides invaluable insights for aspiring entrepreneurs. His emphasis on the importance of mentorship, sales skills, self-care, and personal branding can guide individuals in building successful real estate businesses.
Entrepreneurs in real estate should have a service-oriented mindset. They should also listen to homeowners and prioritize their well-being. Additionally, they need to market themselves effectively in order to succeed.
To connect with Shamus Goss and learn more about his expertise, follow him on his social media. He also offers the Wholesaler with Shamus Academy, where he provides valuable guidance and a blueprint for success in the real estate industry. Don't miss out on the opportunity to learn from a seasoned entrepreneur and accelerate your own real estate journey!
About Benjy Nichols
Benjy has been a media specialist at DealMachine for the last 2.5 years. He produces, writes, shoots, and edits our media content for our member's DealMachine and Real Estate education.