Zero deals & wildly successful.

13 Replies

I consider myself a huge success.

&Yep, I still haven't done my first deal yet.

Did any of you listen to the BP Podcast with Grant Cardone? In it, he said something profound. He said, "Success is not measured by comparing yourself to others. Success is the distance between where you are, and where your potential is."

That statement is huge. We shouldn't compare ourselves to the average joes, because even if we beat them, we are barely above average.

I know for myself, I have huge potential. When applied, and ceteris paribus,  I almost always become one of the best at whatever endeavor I undertake. This is not to brag, but to say that my work ethic and determination are matched by few.

That being said, why would I consider myself a success in real estate? Because I have been studying my market, reading everything I can, and grinding for the past 8 months, and haven't done my first deal yet. Most people would call 8 months of impotence failure. But in my eyes, when you pursue something so viciously for a time period like that, and see ZERO RESULTS, 99.99% of people would give up. But REMEMBER, we don't compare ourselves to others. Let me rephrase. 99.99% of the time, I WOULD probably give up and say it wasn't meant to be.

But I see the light at the end of the 50 year tunnel, and that light is the Sun.

I'll let you guys know as soon as my first deal is done. I won't even tell my family until I tell my fellow investors and motivators on BP. You have my word!

God bless all who read this.

Good stuff Austin! What many people DON'T do is take the time to educate themselves. And even then many don't apply what they have learned. I'm am not as far in in my learning a you, but I'm going to get there. REI is exciting not only to one day have freedom from it, but just to learn it. There are so many things you can do to create success for yourself!

Yes it is crazy how many routes there are. I'm nowhere near knowing them all. 

I've just submitted my second offer. This one is a trustee sale on a good house with a guest house in back! One of these offers will catch!

@Tim Puffer

First, congratulations on your positive outlook; I believe most of what we do or do not accomplish comes from our mindset, so kudos to you!

That said, someone (Peter Drucker maybe?) once said: Never let planning substitute for real, hard work. Another someone that I can't remember once said: an hour of real, hard work is worth a month of theory. In other words, if you define success as having knowledge about real estate, then you have most likely been "wildly successful". I do not define success as in myself against XX person or XX system: I define success as how well I have been able to achieve my goals in life, whatever they might be. I would not personally define my success by the amount of knowledge in real estate I have; I define it by how well I have been able to utilize that knowledge to reach, or facilitate, my major goals in life, one of which is to have enough supplemental income from my rental properties such that it + my pension, when I retire, provides me the same comfortable existence and large safety cushion as it did when I was working, and that being able to retire so young (early 50's) will allow me to reach some of my other goals, long time/distance traveling being one. 

I would compare it to this: let's say I wanted a new dining room table. I could read a whole bunch of books and buy a whole bunch of tools, so much so that I could explain intricate and difficult techniques to professionals, but if I never actually built the table I wouldn't consider it a success. If having lots more knowledge than you used to have is "wildly successful", where can you possibly go from there? Super-duper successful? :D

Please don't take this as criticism, only as a thread to ponder. I wish you good fortune in investing, and taking so much time to read and become informed puts you in thin company indeed. 

@JD Martin

I wish more people had a positive outlook!

Yes, I don't take that as criticism. And I've been learning a lot of Drucker in my management courses.

I don't see the knowledge as what makes me successful, because I still have a LOT to learn. What I was saying is that I have hit many walls, and I haven't given up. THAT is my lone accomplishment. The fact that I have and will stick this out to the end. I know that because I am still at it.

And it's not like I haven't been trying. I have had a screwed up situation with my credit when I had a deal, and couldn't pull the trigger. Now it's fixed and I'm making offers. I've had "motivated sellers" who wouldn't even consider the offer I submitted, which wasn't even a low ball. I'm in the middle of a mail campaign. I've built my network to include realtors, investors, financial partners, contractors, handymen, lawyers, and a tax accountant.

So I've definitely been doing things and applying what I've learned. But I have also been through some trying times and tested my staying power. It held up. I feel it will be much more easy to stick out the tough times when I actually have properties too!

Thanks for expanding my thinking JD.

Originally posted by @Austin Hughes :

@Jd Martin

I wish more people had a positive outlook!

I don't see the knowledge as what makes me successful, because I still have a LOT to learn. What I was saying is that I have hit many walls, and I haven't given up. THAT is my lone accomplishment. The fact that I have and will stick this out to the end. I know that because I am still at it.

Thanks for expanding my thinking JD.

 You have tenacity and perseverance, and that will beat 95% of the people 95% of the time. I wish you the best returns on your adventures!

Austin Hughes Definitely in the same boat as you. Been vigorously applying what I have been learning and still haven't done a deal yet, but I'm ok with it. I've gained some valuable experience with talking to sellers and making offers. I was on an appointment last night with a seller and 2 partners of mine, one with a few years experience and one with 20 years. I was able to build a great deal of rapport and truly impressed my partners with the little bit of knowledge I've gained over the months. Hopefully the contract will get signed soon. !

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