Focus, and stop going for the shiny object- like me.
Looking back over the last ten years, it’s difficult to admit that for most of that time I wasted because I didn’t know what I wanted in terms of Real Estate Investing, I had shiny object syndrome.
I was all over the place, i started my real estate education in 2007, after attending an event at New York City’s Jacob Javit’s center the year before, the event was the real estate and wealth expo. I Had seen the ad in the newspaper and attended for 3 days.
It was a very interesting event as, Tony Robbins, Robert Kiyosaki were some of the speakers, and I bought my first course on Real Estate Investing, and to be honest I thought the course sucked, one of the Cd’s subject was 51 mistakes investors make, the cd stopped at 49!!! Enough said!!
All over the place
That started my propensity of jumping from strategy to strategy, Buy and hold, wholesaling, Fix and flip, thanks HGTV, Creative investing, and so on.
During this time I was a perpetual student, I bought a few courses for the above strategies and I didn’t do anything but study, read, study, and read again… no action taken!! And that’s what I mean by focus! Pick one niche and stay the course until you become an expert, regardless of what you studied, no action means I’ve wasted time and money.
Don’t stand still
As you listen to the podcast on the subject, it’s amazing how time flies by, We must take action, sure it’s scary at first, but if you take a chance in my opinion at least you tried and better that than not trying at all.
So, after all that studying and reading, etc. I settled for Creative Investing- Lease Purchase & Owner financing, which was how I bought my first property (2017) 10 years after my initial start in real estate in 2007.
As you can see, time flies by us if we don’t focus on what we want, not what others want for us, we must have a vested interest on how we proceed.
Not only did I invest in a property, I also have invested with Fundrise, and in my 403(B) with Reits, you can start small and work your way up. it’s never to late, just focus on that one thing and kick ass on it until you become an expert then move to that next endeavor.
What I talked about on today’s show
- Not picking one strategy
- Spending money on courses
- My disdain for partners (it may change)
- Finally settling on one strategy
- The need to rely on myself/ourselves
- And much more……….
Jim Rohn Quote – “We must suffer one of two things, The pain of discipline or the pain of regret”.
In New York Real Estate News, Shocker!! Landlords Losing?
Book I recommend- By Jay Papasan
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Keep the momentum going, Good things will happen.