5.5 Ways to Never Fully Succeed as a Real Estate Investor

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Is your goal to succeed or to fail?

Good, then this article is for you. Some of the easiest ways to delay success in real estate investing are:

  • Not knowing all of the options or paths out there
  • Spending time and money inefficiently
  • Burning bridges

5.5 Ways to Never Fully Succeed In Real Estate

Sure, you might see some or a lot of success, but you are certain to max out prematurely if you follow these 5 ½ simple rules:

1. Don’t Ask for Help, Ever

Pride is way more important than seeking help from anyone. I mean, just because other people have done what you are trying to do and figured out what works and what doesn’t, and learned the most efficient ways of doing things and things to look out for, why consult with them?

It would certainly be more rewarding to make all of the exact same mistakes on your own and be able to experience them yourself rather than skipping right on to the good parts. How could anyone claim to be amazing if all they do is use other people’s ideas and not reach the exact same conclusions themselves?

2. Don’t Learn from Your Mistakes

This one is also critically important for keeping your pride. First, don’t ever fess up to making a mistake! God help us if someone were to realize you aren’t perfect. I mean, your resume would be shot, you’d look like an idiot, and who would ever trust your opinion again?

Second, whatever mistake you (didn’t) make, don’t go back to it and figure out what you could have done differently. That would just be admitting defeat.

Related: Avoiding Rookie Mistakes When Making Offers on Real Estate

3. Repeat Your Mistakes

 After you don’t fess up to or learn from your (non-)mistakes, be sure to repeat them again. The more times, the better. You will definitely improve more as an investor if you just focus on your own methods and making them work in whatever way possible, rather than trying something else.

Whoever said that doing the same thing over and over and expecting a different result is the definition of insanity was clearly just trying to come up with an excuse for why his original methods weren’t working and he had to try other things.

4. Be Greedy

Investing is about getting the best returns on your money, no?

So really, wherever you see some profits lying around, pick them up! Don’t worry about who you have to run over to get them or what little white lies you need to tell someone to make the deal go through. I mean, the real estate investing world is really a survival of the fittest so if you are shy on grabbing up any dollars, you’re just losing out!

Immediate gratification and profits are way more beneficial than building trust and relationships with other investors and companies. The whole “slow and steady wins the race” idea obviously came from someone who just wasn’t fast enough to keep up.

Related: Those Greedy SOBs!

5. Bash other People’s Methods of Investing

As mentioned, it’s all about survival of the fittest.

If your method of investing is raking in the dough for you, why wouldn’t you knock everyone who is doing something different than you? There can’t possibly be more than one ‘right’ way to invest, so if your way is working, be sure to let everyone around you know they suck. They will respect your honesty and rethink what it is they are doing, and they will be reminded who the fittest really is. That has to earn you the most respect, no? But more importantly than irking people off, you want to use that as a way to further limit yourself and what you know because involving yourself in community will only bring you new light and information.

½.  Don’t Worry about Karma

This rule is labeled a half-rule because it’s probable only half of you believe in karma.

I’m including this rule because for those of you who do believe in karma, this rule is big. For those of you who don’t believe in karma, it’s total crap so ignore this rule and skip down. If you do believe in karma though, make sure that you execute your greed and bridge-burning as best you can so you ensure full karmic revolt later.

Conclusion

There you have it, folks. Follow these rules as best you can and you are certain to max early out on success. Sure, you can still see success, but what fun would that be if you went all the way with it or did it on a smooth road?

How important is relationship-building in real estate investing?

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About Author

Ali Boone(G+) recently left her corporate job as an Aeronautical Engineer to work full-time in Real Estate Investing. She began as an investor only two years ago but managed to buy 5 properties in just 18 months using only creative financing methods. Her focuses have been on rental properties and overseas investing in Nicaragua.

22 Comments

  1. Ali,
    I love your list….I’d have added “Don’t follow up” and made a top 6. I’m only a believer in Kharma when I’m in Vegas and when I’m dealing with other people!

  2. dorothy smith on

    I was nodding my head up and down the whole time I was reading Alis blog. I learned how important all of these steps were from the first time deal we invested in. I knew by asking for advice might make me appear as less experienced in real estate, and Im sure it did to some of those I have asked for advice. But many successful investors like to share their advice and what has worked for them. When you ask for advice, you will know by corresponding if they are willing to share or have the time to share with you what has been successful to them. Alis comments on repeating your mistakes for you may succeed this time was a riot. Mistakes I have made, and new ones that I HOPE I can repair, are a reality to the less experienced, real estate investor. Our mistakes were made for we lacked all the angles and insight. Most businesses expect people to be asking them for advice. Lets face it , we havent gone to school for every subject we could possibly think of. When we ask for advice it opens up opportunities, most of the time that we had not thought were there. The more you network and talk to people the more angles you will know.

    • I agree Dorothy and thanks for sharing! Yes, asking for advice is great. Don’t be annoying about it, and don’t just always take and never offer help in return, but be professional and genuinely interested in what other people do and you’ll be surprised how many people will want to help.

  3. Mike McKinzie on

    Another great blog Ali. Two main rules to follow. One, always be learning and two, always be willing to share what you have learned.

  4. #5 people annoy me to no end. Normally they are so arrogant, condescending, and in some cases, downright mean, that even if they did have valuable advice to share, your mind shuts down, cause who wants to listen to a bully spewing their all-knowing education? What’s the old saying? It’s not what you say but how you say it….Some people could stand to take a dose of tact, grace and humility before sharing lol!

    Great stuff, Ali!

    p.s. I believe in karma :)

    • Haha Sharon (so do I!). And yes, I’m with you on the annoyance factor. There are so many people out there who are so condescending and obnoxious (some who even slide past BP’s forum restrictions) that I don’t even understand. Why would anyone listen to you if you’re being a jerk and slamming other people? Not sure the point in it since there are so many ways to do everything and everyone has different goals and preferences, but apparently it’s a competition to some. The people whose advice I most trust are those who present both sides of the scenario and are objective in what they say. Educating me, rather than yelling at me or knocking me, will get you so much further. It tells me so much about a person if they spend all their time knocking everyone else. Consider it a ‘hint, hint red flag’ that you may want to steer clear of what that person is telling you.

  5. Awesome tips, Ali! :) I’m kidding.

    It’s funny because some of these tips are not only used by new investors but experienced ones as well. Folks with big egos are people we all run into especially in this industry. Most times, I choose not to associate myself with them whether new or experienced.

    Seriously, who wants to be around someone who claims to know it all? Smart people have an open mind choosing to surround themselves with folks who know more so they can learn from others and gain new ideas. This is exactly why the innovators of our time, such as Henry Ford, succeeded while others did not.

    I continue to enjoy your articles, you’ve got such a unique and entertaining writing style! :)

  6. lol That was funny I especially liked the Karma rule. I sometimes have to step back, and think on a situation, just because my mind at the moment doesn’t want to handle something in a proper manner. At least when I’m riled up over something I do take a little extra time before executing any reaction. I posted something a few days ago asking for help on a sticky situation that I’ve had to step back and think of how to handle. I wanted to rip the Realtor’s head off for several days. Now I’ve come up with something a little less evasive to try to salvage the situation. Very funny post thanks for sharing.

    • Haha Terri… a little less evasive than ripping his head off. Your phrasing is hilarious. I agree, it’s always going to happen where someone might irk you off, but it’s best to pause for a second, let it settle, and then address. I’ve been guilty of this with property managers especially and other folks in the industry when they do something so blatantly ridiculous, but getting fired up and yelling at them never helped anything. Better to relax for a second and then respond.

  7. Jordan Thibodeau on

    Great post hipster! Greed is a huge no no. There’s plenty of money to go around in a deal, don’t build a reputation being a scrooge.

    • I agree Jordan. You might get more money once but then everyone will leave you out of deals after that, so you only hurt the long-term profits!

  8. Great list!
    Should pin it to my door so I don’t forget. :)

    Also reminds me of a favorite quote:
    “I’ll keep it short and sweet: Family. Religion. Friendship – These are the three demons you must slay if you wish to succeed in business.” – Charles Montgomery Burns
    :)

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