There’s nothing like pulling inspiration from a childhood Disney movie. You would think that these sorts of movies are only good for keeping your kids occupied; however, The Mighty Ducks (1992) has one quote in particular that I believe is a “must-have” if you plan on being successful in real estate:
“It’s not worth winning if you can’t win big!”
Still gets me fired up even after all these years!
Let me take the words right out of your mouth. I know what you’re thinking. “That is pretty arrogant.”, “What a poor attitude!”, etc.
You’re right, on the surface it does appear to be a bit “much”, but if you interpret it from a deeper perspective (I promise to not get all philosophical with things!), I believe it’s a great attitude recipe for success.
Below I’m going to run through a few examples of How NOT to Interpret It and How TO Interpret It…
How NOT to Interpret It: I will deal with that customer when I get around to it. They’re only a” small fry” compared to other customers.
How TO Interpret It: I will put ALL customers on equal footing. You just never know if one of those “small fry” customers knows one (or more) “super-size fry” people.
How NOT to Interpret It: A deal is not worth doing unless I can make “insert large large number” in profit.
How TO Interpret It: I’m not going to do the bare minimum research on a property. I’m going to do ALL the extra details, and then double-check everything! The profit will take care of itself.
Wholesaling / Marketing
How NOT to Interpret It: If I can’t do commercials on TV or big billboards, why bother?
How TO Interpret It: I will pound the pavement as hard as I can until I am able to purchase billboard space.
How NOT to Interpret It: If the budget doesn’t allow for granite counter tops and tile floors, NEXT!
How TO Interpret It: I will work my hardest to make the budget work. My ego isn’t too big to put in formica counter tops and vinyl flooring.
How NOT to Interpret It: I know this person probably has a small 401k/IRA. No point in sharing self directed IRA information with them.
How TO Interpret It: The MORE people that know about private lending to real estate investors like myself, the better! Plant those seeds!
Hopefully you saw the common theme in the outlooks above. It’s not worth getting into real estate unless you’re going to go 110%. Not 100% (and certainly not 90%!!), but 110%.
It’s not worth getting into real estate unless you have a plan of action that can get you from Goal A to Goal Z. Granted, they need to be realistic goals, but they also need to be goals that get you excited and pumped to pursue them.
It’s not worth getting into real estate if you can’t accept the fact you’re going to make mistakes. The one thing you NEED to do in order to separate yourself from the others is to LEARN from those mistakes.
Real estate investing is a great thing to do and/or have as a career. With that being said, as many others have said, it’s NOT easy. It IS competitive. Only the strong survive. You don’t want to be cocky, but you need to be confident that you’re going to succeed. Whatever real estate goal you are working on, marketing campaign you are putting together, business building activity you are working on, remember… “it’s not worth doing if you if you don’t do it with 110% effort”.