There is no question that the legendary boxer was one of the greatest athletes of all time. But he was much more than that, too. He was an important figure that people looked up to, aspired to be like, and loved. He also owned a property or two in his time. So how would he recommend taking on real estate investing in the ring?
How to Purchase Real Estate With No (or Low) Money!
One of the biggest struggles that many new investors have is in coming up with the money to purchase their first real estate properties. Well, BiggerPockets can help with that too. The Book on Investing in Real Estate with No (and Low) Money Down can give you the tools you need to get started in real estate, even if you don’t have tons of cash lying around.
Take Action with Confidence
Professional boxers don’t lack a sense of reality or fear when they step into the ring. If they weren’t alert to the damage potential, they wouldn’t last very long at all. But they train, they learn, they figure out how to minimize risk, and they optimize tactics — and then they step in with confidence.
Take the Punches, Choose Your Moment
If you step into a boxing ring with a pro, you are going to get hit. Period.
Like Ali, hopefully you quickly learn how to avoid most of those blows, to minimize their damage, and how to hit back harder. But it never stopped Ali from getting back in the ring, and he used both precise and unorthodox strikes to bring down opponents others thought he had no chance against.
“Float like a butterfly, sting like a bee.” — Muhammad Ali
We all know this quote, and it definitely applies to real estate. Some wish they had billions to outbid the rest of the world and buy large swathes of expensive cities. In reality, that may not prove very profitable at all. Stay agile, alert to opportunities; pinpoint the great moves; and strike instantly with precision. In real estate, that means recognizing great deals and acting quickly to secure them.
You don’t have to be a Gordon Gecko character to win in business nor a violent animal to win in boxing. Ali proved that. He was against violence. He was even banned from the sport for refusing to fight in the war, and he spoke out against discrimination.
He was a philanthropist and actively seized on opportunities to help and inspire others. At least later in his life, Ali would be seen taking time to mingle with fans, pick up and hug kids, and pass out positive quotes during flights. He is remembered, respected, and considered a success for this part of his life just as much as his minutes in the ring.
Jab, Jab, Hook
As a boxer, you don’t rush into the ring just wildly throwing a right hook. You’d probably just miss or be knocked out. The jab tests the other competitor and sets up the finishing shot.
Related: 3 Lessons Real Estate Investors Can Take From Legendary NBA Star Kobe Bryant
If you are looking to acquire private money for real estate, you have to offer a lot of value, and then you’ll earn that closing shot. That may be posting in the Forums, answering questions, or simply offering your real estate knowledge for free. Or as a new investor, this can translate to testing new strategies and partners with smaller amounts of capital before going in big.
Use the Power of Words
Ali appeared to speak things into existence. He said he was “the greatest ever” before he was the greatest. If you absolutely believe you can do something with your mind, use the power of words and apply persistence and hard work to achieve anything.
[Image Credit: By Polish Press Agency (PAP) – , #5/28, Public Domain, https://commons.wikimedia.org/w/index.php?curid=40461551]
Who inspires you to be a better investor? What lessons do you take from Muhammad Ali’s amazing career?
Let’s talk in the comments section!