The 2 Main Paths Associated With Real Estate Investment, Portion One
Now I'm eager to start sharing something with you I only wish I may have truly understood from the start of my own real estate investingendeavors. If I had, I truly feel I could have achieved massive success in half the time or less than I was actually taken by it.
I am certain we all recall the awesomeness of Mr. Robert Frost, right?
"Two roads diverged in a yellow wood....
I snipped a good bit out of the middle there, but you get the point, right? It is a timeless truism that applies to each one of us, all the time, over and over.
In every aspect of life, including our real estate investing endeavors, we're always confronting forks in the road. Some are clearly predominant and weighty; others, apparently insignificant, can often still make all the difference in where we end up, or who we are and when we get there how our world looks.
After a few years in this business now, I have come to realize that from the 30,000 foot view of your real estate investing business, there are basically two roads you can travel...
The first road looks easier and faster, but really ends up being considerably slower, harder, more confusing and frequently ends up going nowhere. Or at least getting before you finally end up where you really wanted to go you erratically all over the place.
In the event that you know where and what to look for though it is easily available from the get go, the next road typically goes unnoticed by most investors at first. And it turns out, it's also a considerably shorter path...for those people who are fortunate enough to discover it (or be advised about it).
Therefore let's take a closer look, shall we?
Road #1 -- "Jump In and Just Start Slinging Spaghetti"
We all get into real estate investing understanding that the endgame is finally to obtain independence -- whatever that "freedom" looks like for you. And it is no big secret we do this by making money, which comes from doing rewarding deals of some kind, right?
So in road #1 you normally begin right about there. And you start mixing it up and jump in with both feet.
Aimed as best you can towards the "real estate dream" you have hallucinated and fueled by piles of excitement, you typically start soaking up everything you can, and throwing as much spaghetti up against the wall as you can, hoping as much of it will adhere as potential.
So depending on a book you learn about someone's "Rich Dad" perhaps you begin with a newfound fervent desire to develop some serious passive income with a big ole' stack of rental properties. So you away you go!
Then you happen upon a publication or three in Barnes and Noble all about how to make a killing mending, buying & selling houses. Wow! Who would have believed those flipping TV shows could actually work! So off you go in that direction.
Time to start looking for houses to flip when you are pouring over the paper and net for those cash flow rentals...
Wow, you had no idea! Better add this one for the quiver ASAP. Besides they are making a once-in a lifetime offer that's only great tonight! Boom.
Now you've got to start slotting some time to start calling landlords, and drop some of those fancy "yellow letters" you learned about.
Wait...what's that in the Sunday paper? (Insert Famous Guru Here) is actually coming to your town! And wait, what??? It truly is free??? You need to strike that...and now you suddenly understand just how much you have been leaving on-the table.
Time to dash to the rear of the room because you're about to learn to become a freakin' real estate rock star and property any kind of deal possible!
You purchased the latest "get rich with no attempt" investing course and now you feel like a mogul. You're educated to the hilt, baby! Not only that, however you are taking massive action. Like all over the place, all the time type of action.
But...(tenderly I ask)...how come you are not making any actual money like you thought you would? And why do you seem so stinking overwhelmed all the time?
"This real estate investing thing must become a crock. $ 5, 000 in CDs, books and seminars after, and here I am limping along and working myself to death daily. This really is NOT what I signed up for."
"Ah heck...perhaps I should just give up."
Some of This Seem Painfully Familiar?
Maybe not blow by blow, but admit it...you know where I am coming from all too well, do not you?
Sadly it is the only road a lot of people are actually conscious of. Or somebody trustworthy showing the road to you to really closing deals, and keeping you responsible to that path. As you possibly can it might not feel slow at first, because you are learning in the manner of a madman, and cramming as much real estate related activity into every waking moment. It is totally overwhelming and is the lane of discouragement, and frankly it is the point where a entire pile of investors merely flat out fail. They have oodles of activity, but no real direction, and are so generally just plain clueless about exactly what they should actually be doing every, single day. Hey... I Get It It is the lane I was on in the beginning. I was just winging it. Using mainly the net I studied about every facet of every kind of investing you can imagine, And when you're doing so, you quickly realize that everybody's got an opinion, and there are actually a million zillion different ways to skin the REI cat. It is really difficult to consume and digest all that information, then actually implement it without going in five or six directions at once - - most of which are actually the wrong directions for you. Whereas...if you've got somebody in your life that sort of grabs you by the shirt collar and points you in a direction and says, look, right now emphasis on this... When you're done, let's go ahead and give you the next six things to do... And when you are done with that, we'll give you the next six things to do... You must have someone who can induce you to articulate the ball down the field, so you are nearly guaranteed to score a touchdown... So because the path has already been laid before you, that there was no other course that you're going to go. Said another manner, you know precisely where you're attempting to go and how exactly to get there, because basically you have experienced the map, and you are able to only mirror the precise path someone else has already proven effective. This is the 2nd road. And since this post is already kind of long, I will pick back up there in part 2!