All the mechanics you need are right here on BiggerPockets.
The more I read and spend time on BiggerPockets, the more I am impressed. I read countless great articles on the mechanics of being a successful real estate investor. There are enough great articles detailing successful strategies to teach you how to build a very successful real estate investing career, IF you put those plans into action. Many people will read the articles and have all the smarts they need to be successful, yet for some reason, they never take action.
Maybe it is not only people that don’t take action to start, maybe us who are experienced investors hold ourselves from moving to the next level?
After reading all of the great articles and teachings on BiggerPockets, I find myself writing more articles on the psychology behind the work then the actual work itself. I believe it is the psychology that holds many of us back from reaching our goals, not the mechanics. It is a complicated science, because WE make it so, but let’s talk about some very simple and basic tools to start with.
How I Bought, Rehabbed, Rented, Refinanced, and Repeated for 14 Rental Properties
This is the dream right? Going from zero to 10+ rental properties, providing stable cash flow and long-term wealth for you and your family, and building a scalable business model to boot! Learn how this investor did just that, in this exclusive story featured on BiggerPockets!
Out of the Mouths of Babes…
For the last two weeks I was on a much needed vacation with my family in Virginia. First, we were at a great family reunion in Richmond, followed by a week at Virginia Beach. We spent time relaxing, and a lot of time on, around, and in the ocean. The last night there, my kids were pushing me to get in the water with them so we could ride the waves one more time. First, let me say the water was about 70′ and was quite rough. We had a lot of fun in it, but over time, the sea will beat you down! I was only watching the last night, but my 8 year old kept egging me on to get in the ocean with her. She was so cute! She kept looking back and saying “Come on Daddy, you can do it!”. I was so moved by her persistence, that I gave in. It was freezing, but I knew these moments of youth are passing by, and wanting to play with Daddy will not last forever, so I seized the moment and froze my butt off!
Shake It Off Dad!
About 15 minutes in, I decided to dive through a large wave that was upon us. I dove through and on the other side I was having some bad bicep muscle pain, (the joys of being over 40!). I started in and told my daughter that Daddy’s arm hurts. She looked me square in the eye, covered in sea water and said, “Shake it off Dad!” and jumped back in the water. I worked hard on my bicep for a few minutes and got it back in place.
Then I did just that – I jumped back in the freezing ocean to spend more time with my daughter. Over the next hour, she was my inspiration. She was getting pummeled by some large waves. At times she would disappear for a couple seconds as she washed ashore. When she came up I would rush to her and say “Are you okay Honey?”, to which she would reply, “Yes Dad”, then she would do the cutest thing. She would shake her cute little booty side to side and say, “Shake It Off”. Then with a determined spirit, she would run right back into the ocean that just beat her down. She must have done this about 30 times that evening. I was laughing out loud as she was so incredibly cute. I asked her where she heard that phrase and dance and she said, “nowhere”. She made it up herself. At one point she came to me and said, “Dad, Schworm’s don’t quit right? Even if the wave is to the sky!” I had the biggest smile on my face. I was amazed that she must have heard me over the years, or better yet learned the lesson that I try to set for her by example. When we want something bad enough, we don’t quit until we achieve it!
All of us Struggle, ALL OF US!
Sometimes you may read a post or an article, or hear a podcast, and you think that it has all come easy to those of us who have reached a certain level of success. Well let me let you in on a little secret, it has not been easy for ANY of us. I do not mean to be presumptuous, and I don’t know all of the writers personal stories, but I am willing to bet that each of their successes has come as a result of many failures. And as we continue to worked towards more success, guess what? More failures! I think that once you stop failing, you have stopped trying.
What things do you struggle with? What knocks you down? Let me take a stab at it…
- You made a call to a FSBO and got rejected?
- You called a cash buyer and they were not helpful?
- You called a local RE agent to work with and they discouraged you from investing?
- You posted a We Buy Houses sign and got a call from code enforcement?
- You made an offer and were rejected?
- You made an offer and got accepted, but then you couldn’t find the money?
- You did a flip and lost money?
- You purchased a rental but can’t keep it rented?
- You have done a few flips and now want to go full time but you are full of fear?
- You are ready for the next level but unsure how to make it happen, so you procrastinate?
Fill in your own struggles here if I have not hit on yours. Here is my advice to you, actually it my 8 year olds advice to all of us………………SHAKE IT OFF!
No matter how minor or major the setback, SHAKE IT OFF! Go ahead and feel free to actually stand up and shake your butt like she did, it really added something to it! LOL. Seriously, shake it off, get up, and go at it again. Nothing in life worth anything was ever easy to achieve. If you remember the 90’s hit from the group Chumbawumba, “I Get Knocked Down”? The lyrics are great. “I get knocked down, but I get up again, you’re never gonna keep me down.” I am sorry but no doubt you’ll be humming that tune for the day now! But it is a great message. When we get knocked down, SHAKE IT OFF! It is the only path to reaching our goals.
While on vacation I only read a few BP articles, but one I read was by Brandon Turner. He described his failed attempt at a flip. I love those stories, because it is so important for the masses to know that we all make mistakes but the truly successful ones, SHAKE IT OFF and keep on moving ahead no matter how bad they were knocked down. Decide to be successful no matter what is thrown your way. Make the best decisions you can at the time with the information you have. Then work hard and decide to never give up. If you do I can promise you that you will reach your goals or at the very least as my Grandmother and Mother taught us…”He who aims at the sun, though he is sure to miss it, hits higher than he who aims at the ground.”
Go out and get knocked down this week because you will be one step closer to your goal. Just SHAKE IT OFF, get up and keep moving forward. Have an awesome week!
Tell me about some of the ways you have been knocked down and have gotten back up. I would love to hear your stories.