Real Estate Investing offers the most expansive level of creative thinking than any other industry I’ve experienced.  I’m often reminded of a quote from Bruce Norris, The Norris Group, “Real Estate Investors by nature are curious“.

If you’re NOT curious by nature, and you’re new to real estate, please stop reading and find another business/job.

If you are curious by nature, and want to know more, please continue.
When I started real estate investing my learning was at an insatiable level.  I went to a seminar in California and was sold on the idea that real estate would bring wealth.  I bought it, hook, line and sinker.  I’m still determined that it can bring me wealth, but not in the way I was taught in June 2009.  Within months of my training I knew there were a lot more “investing strategies” that worked for others, because what I learned in California wasn’t working for me in Austin, Texas.

I came back home and searched for that “perfect path” for me.  I turned to the internet for answers, and OH BOY!  Are there ever a lot of “systems” for sale that will make you millions.

I bought a few other “systems” and learned about more “strategies”.  I read, listened to podcasts, networked with others, and even joined yet another coaching program.  Even the coach said to me, “Jean, you’re doing OK.  Why are you here?“.

My answer? “I want to hear all the horror stories with real estate investing“.

Why the “Blueprint for Success” doesn’t Work

I have a simple answer: Because we are human, we have free will, we have our own personalities, we have our own talents and tolerances, and we make innocent decisions that aren’t taught in the blueprint.

One of the horror stories that coach mentioned was a person put a property under contract under her personal name.  That in itself is not a big problem, and innocent enough to go into contractual relations with someone as their first real estate investment.  What she didn’t know was that her bankruptcy from the previous year would rear its ugly head and screw up the whole transaction, even with the possibility of losing her earnest money deposit.  (That story was one that motivated me to write the blog post: Do you Need Asset Protection if you Don’t have Assets?)

This is only one of the things that can happen with real estate transactions.  As so many investors say, every deal is different.  No two deals are the same.

Once you realize there is no blueprint for success, then next step is to understand where the minefields are.  Because “Real Estate Investors by nature are curious”.  Curious people like me will take the first step and learn as I go.  But it would be nice to know as I define my own path, capture my calling, find the “system” that works for me, that I don’t walk into the danger zones.

It took me a few years before I realized there is no “blueprint for success”, especially in the Real Estate Industry.  There are so many other issues that arise that will BITE YOU IN THE BUTT no matter how much planning, how much learning or how famous the guru is.

I wanted to hear about other people’s mistakes.  I wanted to know what led up to a difficult situation so I knew to avoid it.  I couldn’t get ALL the mistakes, all the unforeseen issues that arise, but I got a few, and boy did I learn first hand about the others.  Some I’ve written about in this BLOG.

My question to you is: Are you curious enough to discover your own path? Or are you still hoping that “blueprint” works out for you?