{"id":100300,"date":"2020-12-20T09:00:30","date_gmt":"2020-12-20T16:00:30","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=100300"},"modified":"2021-03-16T13:57:59","modified_gmt":"2021-03-16T19:57:59","slug":"are-you-cut-out-for-real-estate","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/are-you-cut-out-for-real-estate","title":{"rendered":"Are You Cut Out to Succeed in Real Estate?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">For those of you who don\u2019t know me, I want you to know that I\u2019m not the smartest guy out there. I quit school at a very young age so I lack the basic skills that a lot of you have. I can\u2019t read too well, my typing is poor, my writing is poor, my grammar skills suck, and my math skills are even worse. Thank goodness for the calculator\u2014otherwise, I\u2019d be lost. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">I\u2019m saying this to say that if I can do it, so can you. That\u2019s the first thing that I want to share with you.<\/span><\/p>\n<h2>Here&#8217;s Another Thing: Talk Is Cheap<\/h2>\n<p><span style=\"font-weight: 400;\">The second thing is after several years of running successful real estate companies, I made money, lost money, and I think that I\u2019m very well rounded and can speak on the different real estate strategies. I&#8217;ve been able to speak to a ton of investors throughout my time, and many of them have seen what I have done and achieved. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Now they\u2019re all coming to me, asking advice on how they can achieve what I have or how to pursue a certain strategy. I have stopped responding. I\u2019ll tell you why. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">First of all, I don\u2019t recall anyone in my lifecycle as a real estate investor who has been persistent and reached out to me more than once asking for advice. Normally, someone emails me, calls, texts, messages me, and if I don\u2019t respond, that\u2019s it\u2014I never hear from them again. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, talk is cheap. I have seen way too many people talk the talk who aren&#8217;t willing to do any work.<\/span><\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/WBlG5yw-NZ8\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h2>What Does It Take?<\/h2>\n<p><span style=\"font-weight: 400;\">That being said, how do you know if you are cut out to succeed in real estate? You have to be willing to do whatever it takes. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">What I mean by this is you have to be willing to make huge sacrifices that even your family won\u2019t understand. You\u2019re probably going to lose a lot of your friends, and many people will think you\u2019re an absolute nut job. I\u2019m saying this because similar things happened to me. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">I packed my bags and moved from Sydney, Australia to Kansas City, and then I progressed to Toledo, Ohio in pursuit of my dream.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sacrifice is something that you are going to have to commit to. I see way too many people who want to achieve success in real estate, who want financial freedom, who want to make a lot of money, but who aren\u2019t willing to make the sacrifices. They are too comfortable, satisfied, and happy living on the East or West Coast with close proximity to shops, restaurants, and amenities. But they still want 10\u201320% return on investment. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As soon as I say to move to the Midwest, people say they can\u2019t do that. Guys, I get it, but unless you are willing to make a sacrifice, you will never achieve financial freedom or success in real estate\u2014period.<\/span><\/p>\n<h2>Dreams Don&#8217;t Work Unless You Do<\/h2>\n<p><span style=\"font-weight: 400;\">From there is hard work. I get asked by so many people what the magic recipe is. <em>What am I good at<\/em>, they wonder. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Honestly, I\u2019m not really good at anything except being the X-factor. I&#8217;m a crazy, eccentric Australian who turns a lot of heads, and that has worked in my favor. The only thing I\u2019m really good at is being loud, rude, and having an Aussie accent. But one thing that I have done from day one and still do is whatever it takes. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">I will work longer and harder than anyone. That has been the recipe to my success. I\u2019m in the office by 6:00 a.m. every morning and I do not finish until 7:00 or 8:00 p.m. I work Saturday and Sunday, and then I rinse and repeat. I put in the hours and commit to getting the job done. Whatever I say, I do it.<\/span><br \/>\n<em><br \/>\n<strong>Related:<\/strong> <a href=\"\/renewsblog\/real-estate-isnt-easy\" target=\"_blank\">Sorry, But Real Estate Investing is NOT Easy. Still, You Can Succeed if\u2026<\/a><\/em><\/p>\n<p><span style=\"font-weight: 400;\">Another thing that I want to stress to you is that a lot of investors think investing is going to be easy. They think they can just throw a bag of cash at an investment and it\u2019s going to throw 10 bags of cash back at them. Guys, it does not work like that. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are a lot of ups and downs, and it\u2019s a rollercoaster of a ride. You have to be prepared for that because you are going to go through a hurricane for the first one to five years\u2014maybe even longer\u2014until you figure out what you\u2019re doing. It does happen over time and the more experience you have, the more you will understand what to do and how to do it. <\/span><span style=\"font-weight: 400;\">Surround yourself with the right people. You can outsource a lot of the roles that you have to initially do yourself, and then things will start to get better. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, you have to build a large portfolio because one or two properties is not going to make you rich or give you financial freedom. It\u2019s going to take a lot more than that, in my opinion. <\/span><span style=\"font-weight: 400;\">So, start your journey only when you can afford to lose the amount of money that you are looking to invest. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">I have come across a lot of investors who go all-in with every single penny, and if things don\u2019t work out, they say they\u2019re never going to invest again. I honestly think that no matter how many times you fail and how tough times you go through, there\u2019s always another day and another door will open. Pick yourself back up, keep moving forward, and there is no doubt in my mind if you work as hard as I do, you will succeed.<\/span><\/p>\n<p><a href=\"https:\/\/www.biggerpockets.com\/real-estate-investment-calculator?utm_source=renewsblog\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-91220\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/08\/blog_ads-02.jpg\" alt=\"\" width=\"700\" height=\"85\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/08\/blog_ads-02.jpg 700w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/08\/blog_ads-02-300x36.jpg 300w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/a><\/p>\n<p><em><span style=\"font-weight: 400;\">I hope you feel pumped up from this article. <\/span><\/em><\/p>\n<p><strong>Any questions? Please comment below.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>No matter how many times you fail, there\u2019s always another day. Another door will open. And there&#8217;s no doubt that if you work hard, you&#8217;ll succeed.<\/p>\n","protected":false},"author":1672,"featured_media":117190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5524],"tags":[],"class_list":["post-100300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-investing-for-beginners"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/100300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/1672"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=100300"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/100300\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/117190"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=100300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=100300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=100300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}