The truth about real estate investing and what the gurus aren’t telling you
“It’s so easy to make money in Real Estate that I’ll be a Millionaire by 25″
“Come to my seminar and I’ll show you how to make 6 figures in 60 days”
“You can become an instant millionaire buying and selling Real Estate without money or credit”
You’ve heard these pitched before on the late night infomercials. When I was 18 I used to watch these and get so pumped up!! I loved all the stories and lived for the hype! Believe it or not I really thought that if I just purchased any Real Estate I would be a millionaire! (When your done laughing I let you know what happened next!) In 2000-2001 I purchased duplexes and 4 plexes at jacked up prices. The cash flow on these properties fully occupied produced $25 to $50 per month. I Never thought about dead beat tenants, taxes and repairs. I was introduced to the world of negative cash flow. Not to worry I owned a business that produced what I thought was good cash flow until Sept 11 2001 hit. Business in blue collar Cleveland Ohio stopped! Factories shut down contractors were not working and no one was interested in buying carpet after that day! I was stuck and drowning fast. The short version is I lost houses to foreclosure (including my personal home), my cars were repossessed in the middle of the night and I ended up moving my family into the local high rise apartment building. I felt like a complete loser, self esteem gone!
I was a hard worker and did whatever jobs I could to make money to support my family. What was a slap in the face was that I was installing carpet for really successful real estate investors like Emerich Herbst and J Scott Scheel. I would always look at these guys wondering what they did right that I was doing wrong. After a few years I could no longer watch them explode with success and I was just the carpet guy. I knew I was a real estate investor at heart and was ready to do whatever it took to learn this business! When they stopped by their properties I would ask them as many questions as I could about investing in real estate. I also read countless books, began to analyze deals and met several private lenders willing to fund my deals. I was armed and ready to start investing! You know what I did next?? NOTHING!!
I was still questioning my ability to succeed as an investors since I had failed so miserably before. So I just continued reading and looking at deals but never taking action. Years went by (roughly 8) until I said enough is enough and realized I needed a confidence booster if I was going to make this happen.
This is when I picked up Anthony Robbins programs “Get the Edge” and “Personal Power” I did EVERYTHING he suggested in his program and after a few months I really felt great! I was hooked and realized personal development was the key to success in any business. My carpet business began to explode and my self esteem did as well. This is when I dove back into Real Estate!
If this business was easy EVERYONE would do it! It takes daily action to become a success. You are going to have rough days full of rejection, don’t let this discourage you! Keep grinding and taking action steps daily. Consistency is key! When you put in the effort you will wake up one day with a healthy bank account and passive income streams funding your freedom lifestyle!
So if you are interested in Virtual Wholesaling, creating passive income through land investments or raising private money like yours truly you must commit to this! It may not be easy in the beginning but short term effort is much better then slaving at a 9 to 5 letting life past you by!
If you need assistance mapping out your plan please hit me up! I’d love to hear about your plans, goals and action steps to make it your reality!
