Why Your Real Estate Investing Career Sucks???
Hey guys I noticed the same behavior amongst some people who are getting nowhere fast. So I figured I share 4 reasons with you guys on why your real estate investing career sucks?
1. THE INTERNET: You sit online all day hoping a motivational seller falls in your lap or a deal. I see it on Social media, real estate investing blogs and different real estate investing Forums. Please dont buy into the hype that everybody is doing so well and lives a care free lifestyle. Lets face it people lie and love telling the false reality that they are doing so well. In Order to get some deals you need to get up off your ASS & hit the pavement. Driving for dollars works that how I got started. I use to get up every Saturday for 8 months and look for beat up houses, boarded up houses, Tall Grass, old roof’s and vacant houses. Then Cross reference the addresses on my city assessment site. It took me 8 months to close my first deal but I gained experience, put in sweat equity , learned patience, learned how to talk to sellers and most importantly got familiar with my local market. I ask you a questions, how long have you been sitting on the internet and tell me where that has gotten you??
2. YOU CAN BE RICH TOO WEBINAR: Too many folks falling for the shiny object syndrome meaning they try to tackle too many niches at the same time when they barely learned the first one they tried to master. Look learning different niches in Real estate will come with time but for right now if you want to focus on wholesaling then ONLY buy products that teach that strategy. Dont try to be a whoelsaler 1 week then next month you are trying to do short sales because you seen on a webinar how you can make so much money, FOCUS on 1 niche. Get consistent with that niche then move on. I learned about wholesaling in 2010, got a mentor in 2011, did my first wholesale deal in 2011, went full time in September of 2012, brought my first rehab the right way in 2013, started buying rentals in 2014. Do you see how 1 niche led to other niches. Just stay on course & it will happen eventually.
3. FOCUS: You Lack Focus (follow one course until successful) I see alot of people who want to start doing Real estate part time. There is nothing wrong with that in fact thats how I got started. However there is something wrong when you are working a Full time Job, doing real estate part time, in the latest Network Marketing Company, and also a tattoo Artist. You must Focus on 1 thing, so what I did was, I worked a full time job so instead of listening to music to and from work. I would listen to podcast and audio books mainly on Real estate. I would get off of work and return calls from marketing. Then 2 times a week I would work out after work. And weekends was 100 % focus on my Real estate business.. I see people who are spreading them selves to thin and accomplishing nothing.
4. You give up too soon: Success did not happen fast enough for you. It took me 8 months to get my 1st deal. I made 2k bucks and I had to pay my mentor. I took home 1300 dollars. 1300 dollars in not life changing. And to be honest I put it all back into my business and failed at some bad marketing campaigns. I was literally just on youtube and some guy said he has made millions in real estate in this short period of time. My stomach literally turned and I could not watch the video anymore. I dont know for sure if the guy has made millions or not. However when you are trying to sell me on your informational product and it starts off with I made millions in Real estate. A red flag goes up in my mind and I immediately need to see Hud Statements. People take my word for it these guys are faker than a 3 dollar bill. Success does not happen like these small guys who have no proof of making millions say it does. It takes time and work to obtain success. I know a guy who it took him 18 months to do his first deal now fast forward he makes 100k on houses some times. But most people would have quit he kept going. Look things take time you might not strike it rich year one. Remember Coca Cola was negative 40 dollars the first year. It mind boggles me that people expect to get rich 2-3 years with Entrepreneurship but have no problem working for someone for 40 years and staying broke.
In Conclusion If you can avoid these main distractions of success you will have a much better and lucrative Real estate career. Contrary to what some might make you believe, we were all new at some point. And we all faced the temptations of going after 5 niches at the same time not knowing 1, getting offered to join every latest Network Marketing Company, thinking about starting other business’s and considering giving up. We are Human those things happen but dont give up. Stay on course its very hard but very well worth it.