BiggerPockets

I've been asked by many about what the difference is that causes success in some, and failure in others. Normally. I think it is something very small.I hope this might remove the veil of uncertainty or fear some BP members have.
There have been many posts on BP about what causes failure. On this thread, it is strictly for success stories. I think the following could actually turn into a success story for many on here.
In over 30 years of investing, I've seen a lot of RE people. Most have been unsuccessful, and not very many have been the opposite. What causes some investors to be able to succeed ? Or, what causes many to not succeed?? That is the better question, imo.
Certainly, it is not just one simple answer. Environment, location, opportunity, knowledge, experience and intelligence are part of it. I'd argue that almost ALL of us have those. So, imo, there must be something else.
As others have pointed out, fear may cause us to be afraid to pull the trigger or to get started.I think many are seminar junkies, because it saves them having to take the leap or change and do something IN RE, rather than just reading and seminaring about it! It avoids reality for them
I've found that most of us are afraid of what we don't understand. That seems to be the #1 reason for fear. We overcome that with many of the items listed in this post, but no need to overdo removing it.
I've told many seminar junkies to just go buy SOMETHING. I almost don't care what it is. In the field learning is unmatchable. It will provide you with much more of a return on investment than anything else.
As a baby, we're afraid of that first step. We take a small step, then walk, and then run. Investing is the same thing. I've identified 4 Obstacles to creating wealth and have mentioned them before.
1.procrastination
2.spending habits
3.inflation
4.taxes

All of these are removeable. The first is mostly due to fear. Get a general understanding of real estate and then select an area to perform in.Specialize in that one area, and make it yours. Immerse yourself in it. Shadow those that are successful in your area of specialty and copy them.
This RE stuff is not brain surgery. Sometimes, we make it harder than it is. There are unbelievable sources on here to help, in every area you might choose. Get over the fear. Learn your area of interest well, and then go do it. Come here for encouragement and move along in your process.
There is no substitute for just doing it. Get busy and take those steps neccessary. Good luck. Rich.

Matt, I don't want to hijack Rich's great post but good job today!!!

we'll close up that second seller on Monday.

Eddie- I voted for your post, and that doesn't happen often with me and you!! I have to disagree with your last part.I'd prefer the newbie to come here for advice BEFORE he has the deal, and hence the problems. There have been so many that have already been in hot water before asking suggestions.
There are lots of hand holding helpers on here, that don't charge, and have nothing to sell.

Matt- a good example for Eddie of someone receiving mentoring here on BP and successful allegiances being formed.

Thanks for all the votes. The interest shows me I need to keep on keeping on. Rich.

Matt and Nick- Don't forget Will and I on your deals. AZ must have other deals you're missing out on... Rich

wow a triple post.. thats a new one! Sorry!

Matt- you don't get extra points for TRIPLE posts!!tic. Rich
p.s. Looking for the deals soon.

Question for Rich, or whoever wants to chime in as well.

Step 2 spending habits. What would be your advice for a young investor like me on spending habits. I do save almost all the money I make, some of my friends think its crazy how I rarely spend money. But I will obviously have more money coming in that will increase the urge to spend especially because Ive never made more then 11 dollars an hour.

So do you have a figure or percentage you would put in savings (or whatever) and and a figure or percent you put back into the business. I know you want to save as much as you and its a personalized thing but I am just curious if you have a model you feel young investors should implement.

Matt- one other thought on your question. I have seen a lot of investors pick a % right off the top. Every month, they'll take a % (like 10-20) and put it into a separate acct. That leaves them the 80-90 for expense of living.
This works best,imo, on fixed monthly income. If you're on commission, it might be more difficult, due to the unknown each month. Rich

Matt- again, you seem to have your head on straight, a strategy to get where you want and time to do it!! You'll be very successful. Rich