There is a magic formula for long term sustainability in business. Under promise your results and then over deliver to your customer. However, understand that by over-promising, it’s very easy to win business in the short term. Now imagine you’re offering a $5000 weekend real estate investing seminar. The ultimate testimonial for a real estate guru would be to make long term wealthy clients out of their seminar participants. However, the truth is that most gurus promise that you will get rich over night because they are get rich quick schemers themselves. A good crash course in the 101 of real estate investing read this article from The Investor Today website by Matthew David should most importantly come with real world expectations so you actually leave the course and can make money. You’re basically destined to fail is you think you’ll get rich with very little work. Real world getting started in real estate articles check out this post will go a long to ensuring your continued success in real estate investing.
Real World Expectations For Real Estate Investing
Imagine if your personal trainer told you that if you worked out only a little, you’d end up in terrific shape no matter what. You could never take them seriously. Many things factor in like your eating habits, physical body, work out type, regularity of exercise, concentration etc. Guaranteeing results without taking yourself into account would pretty ridiculous. Well the truth in real estate investing is that many of the gurus promise you to make millions without any work is the same as promising you a perfect body with minimal input at the gym.
It’s not different when you look at the truth about real estate investing. I know many rich investors who have the time and resources to appreciate whatever they want, when they want and at whatever cost. Understand though that all of them worked hard to establish their businesses in the first place. Understand that if you plan to be rich like those investors, it’s going to take a comparable amount of work to get your business going.
Some else that is less commonly talked about is that gurus make it seem as if every seller is ready for your creative offer when the truth is that it will always be a small minority. Even some motivated sellers don’t have enough equity or a host of other reasons why you may not be able to work with them. When you speak with and random seller, understand this truth. It takes about 100 sellers you speak with to find 1 true motivated seller to do a deal with in the real world. Remember that one true motivated seller can make you more than the average employee makes in an entire year. If you dedicate your time and efforts, you can achieve multiple deals per month.
Armed with the correct real world expectations you’re better set up for success in real estate investing and here’s the reason. Most investors think it will be a piece of cake because that’s what their guru told them. Would that person continue past speaking with 10 sellers or even 50? In some rare cases yes but most likely no. Your probability of success improves dramatically when you realize that finding the right deal and situation is the tricky part.
There are great free sites like Matthew David’s site (www.theinvestortoday.com) that offer free real estate investment courses to teach you how to invest in real estate. So before you take on real estate investing, make sure your mentor has set you up for it to work in real life.
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