As some of you may know i am currently a senior. Many of the projects we have as seniors are ones where we talk about our future. When most (not all) my teachers read what it is i want to become, a loan officer/rei they begin to criticize and give there two cents about real estate, which is hardly ever a good one. Why do you think there are so many people that feel real estate is the wrong way to go ???
Because it isn’t a safe and secure job that works for the “man.” I’m currently in personal finance and she talks about going to school for 6 years then coming out just to work your way up the corporate ladder. As Robert Kiyosaki would say, “Why not own the ladder?” There is a small percentage of people that aren’t brainwashed by their parents or teachers. I was lucky enough to have a dad that wasn’t like that. He stresses through hard work, goals, and vision, I can be successful. It’s so frustrating to see all my best friends just wanting to join that “rat race.”
FYI, I got most of these points from Rich Dad Poor Dad, which I highly recommend you read.
Adam
Serio,
I have been a teacher for over 20 years and have just started rei. My comments are simply based on my experience and I certainly don’t want to over generalize. This is simply my observation. Many of the teachers with whom I have worked want to see kids go on to a four year college and get a degree. Many of these educators are quite conservative. They focus on the subject area, and investing in real estate is an area that they don’t understand and also see lots of risk. I, on the other hand, see lost of potential. I also bet that most of your teachers want you to be successful in life. Be patient with them and if you have a good opportunity, share in more detail with them what you know about rei and what your hopes and dreams might be. I wish you the best!
Brian
By no means am I bashing teachers, I have plenty of great teachers. It’s just that most of my teachers are pretty conservative and it agitates me sometimes.
Get used to people being negative about your goals, that comes along with success. Usually by attempting to explain a business in a comprehendable fashion to a narrow minded person (most people) they will instantly think “If it was that easy, everyone would be rich!”
Just let them think what they want. Trying to change their mind about how attainable your goals really are, your ability, and becoming wealthy as a whole is a monumental waste of time. It goes against the “invisible hand” of the separation of the rich, middle class, and poor for everyone to go after great wealth. Most people (especially older people) don’t want to hear how they’ve been living the lifestyle counter-productive to their natural fantasy of riches beyond their wildest dreams.
Adam,
Most people have not adjusted to the reality of the 21st century. Just one generation ago (two for you), a person could go to college; get a traditional job; work at that one company for their entire career; and have a great retirement. Our entire public education system is geared toward this model. The only problem is that scenario died with the end of the 20th century.
Today, companies have absolutely no loyalty toward their employees. We are now in a global economy with fierce competition from overseas companies who enjoy much lower labor costs. The chances of working a lifetime at one company are slim to none. The industrial age is over (at least in the United States) and our manufacturing industry is on the wane. The GIANT Chinese economy will emerge and dominate the globe.
Self-sufficiency and the ability to adapt are the keys to security in the future. The education system just hasn’t caught up!
Mike
Perhaps, given their average $40K or so salary, they’re jealous…? Carleton Sheets claims that the ‘brainwash’ begins at aboput age 5 when kids start school and start becoming regimented about the “right way” of doing things and being rewarded for confomity and not sticking out…
IMO, many folks minds are too small and have been trained not to expand and think outside the box…
Keith
These people are not bad; they are trying to help you. They are trying to stop you from making a mistake. In general most people know a lot of people that have been real estate investors, but most don’t know anybody that has done it successfully. They have heard about their friend or cousin that bought some property and lost their shirts. The people that are doing it well generally don’t talk about it but the people that failed shout it from the rafters. So they really don’t believe it is possible.
Steven Covey says it like this. We are all born somewhere we will call that Sioux City and we are trying to get to love peace happiness joy and wealth we will call that Disneyworld. And from the time we are born people are trying to tell us how to get to Disneyworld. We are told by our parents, then our teachers, and then professors and when we start work we are told by our bosses. The problem is that these people get up work all day long and at the end of the month can’t quite make the money they get from their salary meet their expenditures. The problem is that the people that are telling us have never been to Disneyworld. What my mentor told me was this. “Don’t talk to anybody about how get to Disneyworld except for people in Disneyworld.”
When you are thinking about asking somebody about how to do anything first qualify the person as an expert on the topic you want to discuss with them. To do that you have to look at their results. Look to see if they have out of life what you want. Do they have the money the health the time with their family that you want? If they do, did they get it the way you are looking at getting it? I see rich preachers that say they can teach you how to get rich. I believe they can. But they can teach you how to get rich running a church not doing real estate. I know people that are CEOs and Vice Presidents of corporations. They can teach me how to get rich as an employee. But none of these people can teach me how to get rich investing in real estate. What you need to do is talk to them about what they know how to do and talk to kdhastedt or, propertymanager, or the other people you may find at your local real estate investors club about how to get rich in real estate.
I HATE working for someone else, lining THEIR pockets not MINE. I see what my hourly rate that gets billed to customers is and what my paycheck has for an hourly rate and they aren’t even close.
"Why not own the ladder?"That's exactly the way I feel....
that’s OK… let em think that way…means more rubles for us! 
“If it was that easy, everyone would be rich [and doing it]!” - Typical RE Skeptic
LOL…they just answered their own question w/o realizing it…b/c most are brainwashed & skeptical and thus don’t even try it. Amazing.
Rich Dad Poor Dad is indeed a great book.
i feel the same way. this is a good thread.
I’m new at rei and I’m trying to avoid telling anyone,except my wife, about my plans until I get a few deals done and prove that I can do it. I get very focused on things that I want to do, but listnening to negative people can be very discouraging, so my advice is avoid discussing it with people that have no real knowledge of real estate and listen to the people that have been succesful in it instead.
"If it was that easy, everyone would be rich [and doing it]!" - Typical RE Skeptic
Yes, that is exactly what the typical RE Skeptic says AND THEY ARE RIGHT! It is not that easy - certainly not as easy as it sounds on an infomercial or at a presentation by the
“gurus”.
Most people are simply not suited to being self-employed. They are not self-motivated; not disciplined; not able to make quick and accurate decisions (and stick with them); not willing to risk their money and credit; and not able to deal with the chaos of the running a business. They feel much safer having someone else set their schedule and telling them exactly what to do.
Of those that do consider getting started in REI, the vast majority are not willing to do what is necessary to succeed. Most people want to do the glamorous stuff - like buying the property. However, they aren’t willing to learn to do a cash flow analysis or work hard enough to find a true deal. As a result, they over-pay for the property. After a relatively short period of time, it becomes painfully apparent that they are losing a lot of money and they are forced out of business.
So, the skeptics are right: “if it was that easy, everybody would be rich.”
Can you get rich with REI? YES! However, there is a big price to be paid (in hard work and time).
Mike
To add to what Mike said, it also takes a bit of business acumen to get anywhere. Hard work alone will get you no where you want to go unless your somewhat intelligent. You don’t have to be a genius, but you could break your back by digging a hole straight to hell if your not smart.
Everyone wants to get rich. Your competing with everyone when you make any attempts. I’d be interested to know how much money people spend on junk to help them get rich. It’s why people go on American Idol to make a fool out of themselves, it’s why people max out their credit cards on seminars, and it’s why 9 out of 10 businesses fail (many more never move an inch off the ground therefore couldn’t be considered a business).
The Art of War says all battles are won or lost before they are ever fought. Your enterprise wins or loses during the planning stages. Either your thorough in your assessments so you have a clear and subjective outlook knowing exactly what to do. Or you let your anxious ambition that billions of people have, make you jump the gun into a world you have no idea about, effectively getting squashed by those who do. Successful businesses rarely happen by accident or by luck. Most are planned (considering reality) long before they are executed. Design every step of your business setting realistic goals that you MUST complete with a neutral mindset. Draw a map of the current climate in your market. Plot your enemies position (competition). Note ALL other factors concerning you, your business, and your market. Then plot your route to your destination accordingly. It sounds so simple so it’s often overlooked which is why most people find out they’ve navigated themselves all the way to miles of steep mountain or a great lake they can’t cross.