Real Estate Investor · TN · Member since 2010 · 294 posts · 160 votes
I can't even count the number of people who have approached me claiming they want to be real estate investors, but then never take Action. I'm interested in hearing if you have found anything that helps people move from the talking about investing stage to the actual investing stage. I look forward to your input.
Real Estate Investor · Milwaukee, WI · Member since 2008 · 1k+ posts · 671 votes
15y
If people dont want to get off their butt and work you will not be able to make them. I presonally dont care if someone becomes a real estate investor or not. Most dont have what it takes. Some try and dont know what they are doing and give investors in general a bad name.
If you are a realtor you can show them properties and try to get them to buy.
If you are a guru you can offer a 1 night only deal on your program at the local REI club.
Real Estate Investor · Milwaukee, WI · Member since 2008 · 1k+ posts · 671 votes
15y
If people dont want to get off their butt and work you will not be able to make them. I presonally dont care if someone becomes a real estate investor or not. Most dont have what it takes. Some try and dont know what they are doing and give investors in general a bad name.
If you are a realtor you can show them properties and try to get them to buy.
If you are a guru you can offer a 1 night only deal on your program at the local REI club.
Real Estate Investor · TN · Member since 2010 · 294 posts · 160 votes
15y
Jeffrey,
Thanks for the input. I'm not a realtor I'm just an investor, but I often get asked to mentor or coach people so it gets frustrating when people don't follow through. I guess I have to try and balance the amount of time I spend trying to help new investors until I see if they are going to take the Action required. I do agree with your comment that you can't make people get off their butts. I just wonder if there is a way to show new investors that the work in building a real estate business is well worth it. Thanks again.
Investor · Round Rock, TX · Member since 2010 · 8k+ posts · 4k+ votes
15y
There is no good way. I ran a coaching program for about a year and a half and most people are just flat-out lazy. If you are working with people it is a numbers game. Give them small assignments and if they don't do them cross their name off the list. Those that are left can get bigger assignments until you are left with a few worth dealing with.
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
15y
Shawn, getting people to move on a deal is an art. But before you can paint that picture, there are three things your client needs. Ability, desire and knowledge. If they have no money (thanks to the no money down gurus) they only have two of the three elements left to work with, if they lack either of those two, expect to spend more time with them, if lose the desire, cut them lose.
You can't guess if they have these three elements. You need to see what their ability is, not only financial ability, but can they grasp legal aspects, you can teach a monkey to sell, but you can't teach them how to impress people or how to present themselves without going beyond the call of duty. Can they learn and retain the knowledge and understand how to apply stratigies in certain circumstances?
I get hundreds of emails, not all, but most want assistance and I try to advise the best I can with them. But there are some that don't get it, won't get it and lose the desire....you can't make everyone work or be successful. IMO
Real Estate Investor · TN · Member since 2010 · 294 posts · 160 votes
15y
I appreciate the feedback. I am more than willing to help others who have the desire and motivation to help themselves, but my time is valuable so I don't like to waste it. As I type this I'm waiting for my four child to come out....my wife is 4 days over due. As I'm sure those of you with kids understand my time is limited. On the flip side I am so greatfull for those that helped me get to where I am today. I get to spend a lot of time with my family because of my real estate investments. I just want to make sure I return the favor. Thanks again.
Landlord · Seattle, WA · Member since 2010 · 3k+ posts · 1k+ votes
15y
Congratulations Shawn,
I believe people build there own walls. Fear can get in the way of success. In the beginning it can be fear that one doesn't no enough. Later some actually seem to fear being successful. For many they have been told it is easy and work is not necessary when they discover they can automate everything or have all fall in there lap they lose desire.
It would be great to find a way to determine which people really desire to succeed. The desire to succeed can overcome fear and they are much more likely to do the work necessary to produce success.
Real Estate Investor · TN · Member since 2010 · 294 posts · 160 votes
15y
Charles,
Hey I agree that Desire does seem to play a role. I would be interested to hear any views on how a persons perception of their life plays a role in Action. It has been my experience that it is easier for me to get someone to Act when they are not happy with their current situation. Those that are pretty comfortable with their life seem to be more difficult to motivate. At least that has been my experience. I think there has to be a Big Reason to Act. For me I was broke when I started, was working two jobs to get by, and had no time to spend with my oldest son who I was raising myself. We all know that there will always be obstacles to being successful, but having a strong enough reason to keep moving forward may be at least one key to Action. I look forward to your comments.
Landlord · Seattle, WA · Member since 2010 · 3k+ posts · 1k+ votes
15y
Need is a strong motivator. Fortunately it is not the only motivator. Motivation generally has to come from within, it can probably be forced at times, but from what I have seen this type of motivation rarely lasts.
I became more active in real estate when I quit my day job and started working for myself. Understanding some of the risk/reward concepts you learn in making business decisions helped me in making better real estate buying decisions.
San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
15y
Personally, I think a lot of it has to do with passion. Those who succeed really have the passion and desire to really want to change their situation. Without passion, it's really hard to move forward. Just my thoughts. Hope that helps!
Overland Park, KS · Member since 2010 · 9 posts · 2 votes
15y
From my experience, the people that talk about investing but never do are the ones that don't want to give up financial security (emptying out their bank account) or realize that investing might be more difficult than they thought once they begin to research (if they even take it as far as researching). If you can help them get over fear and financials, you might be able to convince them to get started.
Full-Time Investor · Charlotte, NC · Member since 2009 · 2k+ posts · 1k+ votes
15y
well said eric....you can lead a horse to water but you can't make her drink..i can't tell you how many of my buddies see what i do, and think i have the life...trust me, i don't..lol...but they see me working for myself and they talk t ome about how they want me to help get them into it..i do wahtever i can, almost to the point of looking like an idiot someimtes...i set them up with my banker and everything, and they don't do crap! the secret is, that people think working for yourself is a dream where you make your own hours and live the life...the truth however, is i'm a workaholic who probably ends up working more than the 80 hour work week, and i've lost tons of friends bc i'm so business oriented...it's not as easy as people think, and they quickly lose interest and their attention goes to the next shiny toy they can buy
Real Estate Investor · TN · Member since 2010 · 294 posts · 160 votes
15y
Hello all Thanks for the comments. I'm sorry I haven't responded to your posts the last couple days, but I have good reason. My son Aiden finally decided it was time to come out...my wife delivered him on the 20th and we just got home a few hours ago. Now that I got mom and baby in bed I thought I would catch up on a little business. I will make this short tonight as I haven't slept much yet.
Bryan I know exactly what you mean when you say people think investing in real estate is easy. Too many people listen to the hype and think they will be able to do nothing and make millions. Kind of like the latest diet pill will melt pounds off your butt. Eat whatever you want, don't work out, and take this magic pill and you will lose weight. Most people want an easy solution to their problem. That's one of the reasons diet pills are a multibillion dollar business.
It is no different in the real estate business. There are far too many people who just tell people what they want to hear, not what they need to hear. I would rather be straight with people from the beginning instead of blowing smoke up their rear by telling them it is easy to get rich in real estate. I advise people who are looking for a quick and easy way to wealth to buy lottery tickets not real estate. As we all know real estate takes work, but for those willing to do what it takes it is well worth the effort. My real estate business is what allowed me to stay at the hospital the last couple days with my new son. It is also what will allow me to help mom and baby out the next several days why they recover. A successful real estate business can give you several things, but for me the most important thing it gives you is Freedom. I don’t need a lot of things or a lot of money. What I really enjoy is the freedom to spend my time with my family and friends. That is what made the difficult journey worth it to me.
Eric, your point on financial security is well taken. Look how many people are now out of work or under employed. I bet many of them thought their jobs were secure until a few months ago. The sad part is most will learn nothing be this economy. They will overlook numerous great investments on their way to their next job interview. I can’t count the number of people who have told me they want a guaranteed check and that’s why they don’t invest in real estate. I wonder how they feel about those guaranteed checks now.
Investor · Tucson, AZ · Member since 2009 · 171 posts · 27 votes
15y
Speaking as a wannabe investor, the economy took a drastic downturn. It became clear to me that I needed to hold and use the money I had planned to invest very short term in another much higher priority goal.
I did explain that to him, and I do hope he understood.
I'm sure that fellow saw me as a time waster, which I was at that point for him, and he/we dropped contact.
When that goal is achieved, depending on other factors, too, I plan to re-establish a connection with him and maybe move forward on a project or two of his.
And yes, congratulations and happy birthday to your new child.
Specialist · Riverside, CA · Member since 2008 · 382 posts · 72 votes
15y
One of my favorite quotes about this came from my creative writing professor. "Why do we need to motivate people? If we did that there would be no one to clean bathrooms and pick up trash. If you guys don't want to do the reading I still get paid" He was making the point that it is entirely up to you to do it your self. I've probably been asked 30+ times to be a mentor. The first thing I tell them to do is pick their favorite neighborhood and learn it so well they can tell me the value of every home as we drive through it. Not one person has done it yet.
Real Estate Investor · TN · Member since 2010 · 294 posts · 160 votes
15y
Several good points made. First I have to say that you don't need your own money to invest in real estate so regardless of the ecomony you can still get started. Second, I agree that each person has to determine what they want to do with their life. What I plan on doing is presenting seminars to people who have an interest in real estate. I will do my best to answer their questions and to eliminate fear. I will tell my story, my challenges, and how I got through them. I will do this without blowing smoke and without trying to take advantage of their desire to have a better life. I believe there is more than enough to go around and hope I can help others find a life of freedom as I have. Please keep up the comments, I learn more from all of you everyday. Thanks and Merry Christmas.