I went through a very expensive real estate seminar program and learned a lot about real estate investing. I took that knowledge and hit the ground running and NEVER stopped. I was frustrated, determined, and very motivated to making real estate investing work for me.
I was frustrated for many reasons, including but not limited to:
- Real Estate Agents that stopped making offers for me
- Contractors that took advantage of me
- Financial vultures that looked for even more ways to part me from my money
- The thousand different things that can go wrong in a real estate deal
I blogged as I moved forward…I spoke of my frustrations and the challenges I’ve faced. Many have reached out to me with their frustrations too. In fact, it breaks my heart to hear of someone committed to become a real estate investor and see them give up, defeated.
That’s why I started my Field Trips. I know your pain. I was there when I didn’t even know what question to ask. I learned, the hard way, how to push through these challenges and how to recognize potential dangers (watch for my next post on the “trust me” guy). I’m no expert, but I’ve seen too many people that have taken expensive real estate training or attended seminars and have not gotten their investments back. Don’t give up! You can do it. It takes risk, work, and strategic thinking.
Therefore, let’s explore what makes some move forward in real estate investing, and why some give up so easily.
Here are some basic traits of people that should NOT go into real estate investing:
- Inability to adapt to surprise conditions
- Thinking you will get rich without working
- Living paycheck to paycheck
There are so many surprises in real estate investing that if you can’t emotionally handle that surprise, then this isn’t for you. I have a listing agent that said “Jean, you do business like a man. You get upset with the bad news, then you’re over it and ready to move on.” I don’t know if being compared to a man makes sense, but the truth is there are surprises in this business. You must deal with them and move forward.
There are so many people that are convinced via infomercials and promises of wealth that if they give these people their whole life savings and retirement funds to some seminar, they will be taken by the hand and shown the path to wealth. They will say to the ego…”we see something different in you…”, “we want you to be on our team…”, “you’ll make 3 times what others make with our program…”. Then they will say “How many credit cards to you have?”. The reality is that whether you follow the expensive path or not, it requires a lot of work. I’m not saying the expensive path is bad, just that they don’t tell you how much work is really involved. You’ll have to roll up your sleeves and actually make deals happen.
Real Estate Investing is a business. Don’t quit your job, don’t think you’ll be saved by next month by doing a real estate deal. Treat it as a business, not a savior. If you’re desperate, get a job at Wal-Mart.
Here are some basic traits of people that CAN go into real estate investing:
- Willing to take risks
- Determined to succeed
- Willing to dig deep into what this business is all about
- Welcome creative and alternative strategies to achieve your goal
I invite you to consider joining me on my next Field Trip. Currently the next one is scheduled in Tampa, FL May 4-6, where I help you fill in these gaps, share my insights, and all of my learnings with you. I will have everything you need to do deals: hard money lenders, real estate agents, gap funders, and my special guest, my original mentor, Cliff Gager, the one that helped me recoup $14k from a bad FHA appraisal. Register at http://budurl.com/rehabtampa
New blogs at http://jeannorton.com/blog2
Thank you! Very helpful post! Best.
Adirondack Waterfront Property
It’s real nice of you to share the knowledge you learned from the seminar you’ve attended. It gave me more insights about real estates and how it works.
conveyancers
Thank you for sharing this post to us. Now I understand that buying a real estate property it’s not only about money but also about how ready you are mentally and logically.