I recently did a radio interview and this is a partial transcript from that conversation. Let me know what you think!
What is your Best Real Estate Investing Advice?
Don’t stop. Never quit. Never give up. You’re going to a hit ton of obstacles in this business – you CANNOT let them stop you. So many investors get stopped by either ignorance or fear saying, “this is just too hard” – “real estate doesn’t work for me” – “real estate doesn’t work in my area.” Then they get out! Don’t do that. Find someone who can guide you through. It could be someone in your REIA, another investor, an attorney, anyone successfully doing what you’re trying to do. Do what it takes to find answers to your questions. You don’t have to know everything today; you learn over time. Take the time to figure it out – but don’t get stopped. property agent in singapore
Name on big obstacle.
Legislation – laws change and often investors don’t know their state laws or say “our laws don’t allow that” when actually they’re ignorant of the laws. The law may say you can’t do something a specific way, but you can in fact do it another way. Again – learn, find out, know – just don’t get stopped.
Best book you’ve read
I prefer business books because we run a business. If you have more than 2 properties, you have a business and need to treat it as such, rather than like a hobby. The great thing about business books is that most business needs are the same, no matter the industry. “The EMyth” by Michael Gerber is fantastic and “Think and Grow Rich” by Napoleon Hill.
Best personal growth experience and what you learned from it.
My best ever personal growth experience probably came from my worst ever life experiences. My three experiences were divorce and two extreme family health crises. One of the big things I learned through these was not to waste time – everyday is valuable, even the tough ones. Jim and I are so so busy every single day, our days are so full, but we love it because it’s all productive, it all serves a purpose, it serves others, and our activity constantly moves us toward our goal. We don’t have to be at our goal to enjoy life, just working for it and making steps brings us tremendous joy. Don’t sweat the small stuff because it really is all small stuff over a life span – it really does pass as time continues to march on. It’s precious, don’t waste it.
How I tie that into real estate is by pointing out that, if you decide to wait before you make a purchase, I promise that in five years you’ll be kicking yourself for waiting. Time is so precious.
Best success habit you practice
Not getting stopped. For that to happen, you must have a big enough “why?” You must have a big enough reason to be doing this business – and your reason’s gonna change. Starting out, our reason for this business was to provide for retirement (and of course I wanted to get to that sooner rather than later). Eventually, as we began to have income coming in for today, our reason became a better lifestyle for ourselves and our family along with being able to give more, which feels really good. Now our reason is to leave financial prosperity to our children and grandchildren