I say these are 10 shocking reasons because I feel they truly are. I have been involved in many different education circles, and the list of reasons I have listed below are “reasons” I hear from others in these circles all the time. If you have somebody whispering these limiting beliefs into your ear, then lean on my experience and just understand that although that may be their limiting belief, it doesn’t have to be yours.
1.) All hype and no dollars
Are you kidding me? Anybody who says this has either never done it, or was doing it wrong and too proud to admit it.
2.) Doesn’t work in your area
Unless you live in Antartica, there are houses almost everywhere, and you can make money. Period.
3.) Competition is too hard
Do you see all of those cars? 18 investors showed up to look at this one house, and I am still doing deals. You just need to find your niche, and focus on getting a deal.
4.) Don’t have the money
I complete almost all of my deals without using my money. The above property was a purchase that I received $76k in rehab funds at closing paid directly to me. I used those funds to repair the house and made over $100k. Can you calculate that ROI?
5.) There isn’t enough time
It’s not that you don’t have enough time. You just simply need to shift your priorities around a little…….
6.) Hate Fixing Toilets
I don’t know when they started showing up……but the yellow pages are filling up with these people called plumbers!
7.) Bandit Signs Never Work
Ya know – you are right. My team should just give back the 40+ properties purchased last year from bandit signs.
8.) I don’t want to get sued
Unless you are planning on being a slumlord – you’re just as likely to get sued walking through WalMart.
9.) Adult Daycare
Will there be an occasional bad tenant? Yes. Are there management companies? Yup.
10.) I don’t have my __________
If you are going to let not having your business cards, google voice number, LLC, title company etc. etc. stop you from making money then hey, you’re right – real estate investing probably isn’t for you.
There are a lot of “reasons” you will hear from people about why you shouldn’t do real estate, but i strongly believe that it is the number one path to wealth that almost anybody can obtain. Just ignore the excuses, buckle down, and make it happen.
Cheers to happy investing!