The Harsh Reality for Newbies Who Think Real Estate is a Way to Get Rich Quick

The Harsh Reality for Newbies Who Think Real Estate is a Way to Get Rich Quick

2 min read
Sterling White

Sterling White is a multifamily investor, specializing in value-add apartments in Indianapolis and other Midwestern markets. With just under a decade of experience in the real estate industry, Sterling was involved with the management of over $10MM in capital, which is deployed across a $18.9MM real estate portfolio made up of multifamily apartments. Through the company he founded, Sonder Investment Group, he owns just under 400 units.

Sterling is a seasoned real estate investor, philanthropist, speaker, host, mentor, and former world record attemptee, who was born and raised in Indianapolis. He is the author of the renowned book From Zero to 400 Units and the host of a phenomenal podcast, which hit the No. 1 spot on The Real Estate Experience Podcast‘s list of best shows in the investing category.

Living and breathing real estate since 2009, Sterling currently owns multiple businesses related to real estate, including Sterling White Enterprises, Sonder Investment Group, and other investment partnerships. Throughout the span of a decade, he has contributed to helping others become successful in the real estate industry. In addition, he has been directly involved with both buying and selling over 100 single family homes.

Sterling’s primary specialities include sales, marketing, crowdfunding, buy and hold investing, investment properties, and many more.

He was featured on the BiggerPockets Podcast episode #308 and has been contributing content to BiggerPockets since 2014, with over 200 posts on topics ranging from single family investing and apartment investing to mindset and scaling a business online. He has been featured on multiple other podcasts, too.

When he isn’t immersed in the real world, Sterling likes reading motivational books, including Maverick Mindset by Doug Hall, As a Man Thinketh by James Allen, and Sell or Be Sold by Grant Cardone.

As a thrill-seeker with an evident fear of heights, he somehow managed to jump off of a 65-foot cliff into deep water without flinching. (Okay, maybe a little bit…) Sterling is also an avid kale-eating traveller, but nothing is more important to him than family. His unusual habit is bird-watching, which he discovered he truly enjoyed during an Ornithology class from his college days.

Sterling attended the University of Indianapolis.

Instagram @sterlingwhiteofficial

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People new to the world of real estate investing are often adorably naïve and optimistic about the realities surrounding it all. Their eyes are wide, and their thoughts whirl around the possibility of becoming the next Donald Trump. 

However, the sad thing is that they don’t actually realize until they are deep into the mud exactly how much they are unaware of. So while the world of real estate investing can be very lucrative, sometimes there needs to be a little rain on a newbie’s parade in order to help them get grounded — and I don’t feel this way because I am a jerk (I’m actually a nice guy), but someone needs to give them a heads up before they fall in too deep.


Related: Newbies: Considering Wholesaling to Break into Real Estate? STOP! And Read This.

Real Estate Investing Involves Both Time and Hard Effort

I bet you guys saw this one coming. Every good thing requires a lot of effort, and real estate investing is no different. So yes, in order to get successful in any kind of career path (not just real estate investing), you will need to put in a lot of work. There is absolutely no such thing as a get-rich-quick scheme. It’s about that daily grind.

Regardless of what you have been told about real estate investing being a means to passive income and cash flow without hard work, I am here to tell you that this is only true to a certain extent. This is because real estate investing is similar to a business, so if you want to earn money for the long term, you will need to learn how to keep the ball rolling, search for fresh income methods, create and solve new problems, understand new techniques and refine old systems.


It is Difficult to Climb the Steep Learning Curve

Think about it. Steve Jobs probably had to take a long time to fully develop the very first Mac. With nothing similar ever having been created before, he (and his team) would have had to take a lot of time to slowly carve out their creation.

Related: 3 Common Misconceptions About Real Estate Investing Newbies Believe

So if I were to tell you that I wanted you to design some software from scratch, do you think you could do it? Well, unless you’re some tech whiz or a master programmer, I think not.

In order to build it, you will need to start gaining some knowledge and skills. From enhancing your mind by reading books to attending online courses and networking with others, you might be able to build a program in perhaps half a year if you work hard. So in all, becoming successful and making it in real estate investing won’t happen overnight and will definitely depend on how well you learn to climb that initial steep curve.

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People new to the world of real estate investing are often adorably naïve and optimistic about the realities surrounding it all. Their eyes are wide, and their thoughts whirl around the […]