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How To Survive The Real Estate Investing Game
In theory, this business is easy. Just do some marketing, buy some houses, and make millions before you know it. Of course, we all know theory is a bunch of B.S. This business is tough and there is plenty of evidence to prove it. Few people achieve millionaire status or even survive the first 12 months. So how do you survive the first 12 months? Well, I am going to give you the “magic” pill (that’s not really magic at all). The “magic” pill is to just keep plugging along with the end goal in mind. I remember when I first started in this business, I would attend all of the real estate investor meetings and ask all of the successful folks how they did it. What was their secret? Their secret was that they worked hard, never gave up and were consistently marketing. That is my secret too. This business certainly does not take any genius or above average intelligence. It takes someone who can look themselves in the mirror and tell themselves that they will never quit, despite all obstacles. A while back I was out to lunch with an investor friend of mine who was having some tough times with his business. I asked him what he was going to do and he told me “I am going to keep moving, I looked at the alternative. The alternative is spending the next 30 years in a cubicle, so right now things really aren’t that bad.” I thought that was such a profound statement. Even if you want to quit this business (which we all do at times, especially in the beginning-I wanted to quit at least once a month) look at the alternative if you do quit. You will be doing the same job, getting the same results, and you will not be creating a strong financial future for yourself. Even if you don’t want to build a real estate empire, simply buying a few houses will make you a millionaire and give you a very comfortable retirement.
So when self-doubt creeps in (and it will) and the devil is on your shoulder trying to get you to quit, do the following: 1. Read the classics “Think and Grow Rich” by Napoleon Hill and “The Magic of Thinking Big” by David Schwartz.
2. Look at the big picture and see yourself 10 years from now with all of your houses and a huge confident smile on your face.
3. Call your mentor, your friend, or whomever and let them give you some words of encouragement.
4. Remember “Quitters never win, and winners never quit” If I could reach through my computer and shake some sense into you when you were trying to quit, I would. I hate to see people quit, especially when I know anyone can do this business. On the flip side, as I always tell my students, because most people will quit this business, there never really is any competition at the top. So keep plugging along, read positive books and believe in yourself, because I do.
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Contributor's Note
Jason R. Hanson is the founder of National Real Estate Investor Month, author of “How to Build a Real Estate Empire” and mentor to students all across America. For more information on Jason’s one-on-one mentoring program, visit www.PrimoCoach.com or call 800-865-1702.
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