I thought of this while I was sleeping last night and wanted to share it first :cool
Dreams + Actions = Reality :beer
You know I have people come up to me all the time and say “Gee Wallace you are doing great with Real Estate” tell me what I have to do to get where you are. etc. etc. etc.
When I tell them the secret formula, I get well, ummmm thats OK. I really have to see who is going to get “Voted Off American Idol” then maybe I will look into the real estate thing some more.
Guess you see my point here…
I am amazed that people will fully accept in their minds it is ok to go to college for 4 years for $125,000 - Then 4 years of Medical School for say $125,000 more - then 2 years of internship earning peanuts, not to mention all other living expenses to become a doctor to earn maybe after expenses by the 5 th $150K to $250K a year…
Where a lot of Real Estate Investors, well we earn that and a lot more all the time.
But…
They don’t feel any need to invest in any education to teach them how to invest in Real Estate. They feel they can learn it for free or get it through reading one book or taking a 2 day seminar class and hope for the best like the Newbies under Mikes last post :banghead
I will go out on a limb here and venture to say 95% of all the successful people in Real Estate Investing (lets say successful is maybe over $1,000,000 in net worth from Real Estate Investing) has and do invest a lot of time and money into their education whether it be in a formal class, reading every post on Rei Club and asking the seasoned investors questions, Working with a Mentor, attending club meetings, Reading books all the time and most times a combination of all of the above, and yes the secret I alluded to above… Hard work.
If you are not willing to do what ever it takes to succeed, then you end up like the folks in Mikes aka Property Managers last post, A “Gullible Newbie”. While his post might seem a little harsh to some, it was a valid point.
Anyway thats my 2 cents worth, and I am off to the gym.