How Riding Bulls Helped Me Become A Better Real Estate Investor

In the 18 years of my life, my heart has never pounded so hard. I was behind the bucking chutes in Greeley Colorado, at the high school state finals rodeo. It was the middle of the day, but it was dark out. There was a chill from the storm coming in and the rain was just getting started. My dad was in the stands with the other spectators waiting for the bull riding to get started. The crowd was restless and the stands were full. The riders were being notified of which bull they drew. I got the name of my bull and was on the hunt to get a look at him before he was loaded with the others into the chutes. Finally, I found the bull I would be getting on for the last competition of the year. It was the first time my dad would see me ride and I happen to draw the largest and meanest bull in the entire pin. Others who have attempted to ride him approached me telling what to watch out for, and none of it sounded good. They were telling me to be careful. I was sitting in the dirt stretching and trying to get mentally ready for this challenge, and there was a constant barrage of fellow competitors wishing me luck. This is the kind of bull that would score big if you could stay on... or it could crush you. I saw the bull get loaded and heard the announcer call my name. As I tied on my glove, I could literally see my heart beat through my shirt. I sat down on him in the chute to get my rope ready and he was slamming my legs against the edges. He did not want to be in the chute and he did not want me on his back. I looked up to the sky hoping to get some help from above and the rain was pouring onto my face. My best friend was helping me settle in, giving me words of encouragement. I was in and ready to go. This was it. This was the last ride of the season in front of the largest crowd I have competed in front of and my dad... my dad was there. Everything around me went silent. I was scared. I looked down, squeezed hard, and I called for the gate men to open the gate.

Sometimes I succeed and sometimes I don't, but I love the challenge. Many people don't know that I was introduced to riding bulls when I was 17 and quickly fell in love with the challenge. I rode bulls for about three and a half years, and looking back can see many lessons I learned that have helped me in my real estate investing.

When you fall you better get up quick!: When you come off a bull in the rodeo arena you better get up. Real estate is no different. We never plan it, but there is going to be challenges in this business and you need to be ready to fall. Your success as an investor will really come down to how quickly you get back up. The faster you get up and acknowledge what happened, the more you will learn from your mistake and the better off you will be.

This is a pretty high turnover business because it is harder than people expect. My dad used to tell me that nothing worth working for is going to be easy. I am sure there are exceptions to that advice, but I have found it to be true in my life. Success as an investor takes hard and consistent work. This is a business about momentum and when you stop, you lose your momentum. Don't let a fall stop you, get up quick!

Focus on winning, not on getting hurt.: When I started riding bulls it was about the challenge of course, but it was also about the lifestyle. People look up to bull riders, and I liked that attention. I was riding bulls for about six months before I started to really take it serious and started to compete. In the beginning, I was more concerned with getting out of there without an injury than I was being successful. Because of that, I sustained injuries and was not successful. Once I changed my focus to winning, I started having success and was not getting hurt. I am not saying not to be careful and limit your downside. What I am saying is a simple shift in focus could mean the difference of you making it or not.

In a typical real estate transaction, there is a period of time to get your due diligence done before you have any money at risk. This is after you have a contract to buy something. Many analytical investors never even make it to this stage. They are so focused on losing money that they never put a house under contract. I was having a beer with a newer investor a few weeks ago. He has spent $12,000 on coaching and education and has never made an offer on a house. I asked him what was stopping him, and he said fear. Fear of what? Even if you are "lucky" enough to get an offer accepted, you don't have risk of losing money because of the diligence period. I also like to ask the question. "What is scarier? Losing some money on a deal or never doing a deal at all?"

What you focus on tends to become real so I would encourage you to focus on winning!

Enjoy the entire rodeo, not just the ride.: I loved the ride! The thrill, the challenge, the rewards. I also love the life style. Some of my closest friends that I still have today came from this time in my life. When we went to a rodeo, we went together. Long drives and over nights were common. We would sleep in cheap hotels, if we were lucky, but normally ended up in a tent or the bed of a truck. It was fun to get to the fairgrounds and hang out with other competitors, especially the barrel racers.

People get so hung up on each specific deal in real estate. Many investors are so focused on the deal they don't enjoy the life they are creating. This business is so much more than a deal. I love going to a happy hour with other investors. We have the same mindsets and have a lot in common. They laugh at my terrible business or real estate jokes. They can relate to me and what I am going through and vise versa. These people are now my closest friends. We do deals together, but we also go out together and get our families together. I also really like to help other people. Although we are not an education company, we dedicate a large amount of time and money to help investors. Clearly the education is a good marketing approach, but giving our time in support of others also brings a tremendous amount of joy. I love watching and helping groom newer investors. Now I only do this through the classes, events and articles that I put out. If you like what we do or we have helped you in some way, send me an email and let me know. I would love to hear it.

This business will create an amazing lifestyle if you let it. Although you do need to work hard, you need to enjoy life too.

I love real estate like I loved riding bulls, and these three lessons has helped me be successful with both.