Beginning In Real Estate Investing – Paying The Hard Price For…
Why is the world the way it is?
Well… here’s one answer.
Because there are people who make things happen by doing what needs to be done and never taking NO for an asnwer… paying their dues along the way and never expecting anything to be given to them.
And…
There are people out there (10 times more than in the first group) who have "dreams" and aspirations, go out there and start, see how hard it is… and give up because it’s just "too darn hard".
Which group are you in?
Most people will say that they’re in the first group because it’s our natural tendency to want to be associated with the "cool" crowd. It’s human psychology.
Also a part of our human psychology is to throw up our protective walls anytime anything is out of our comfort zones and against the grain. This isn’t unusual… everyone has this buried deep in their psyche somewhere.
What’s The Difference?
I was reading through a post this morning that Steph wrote over at her blog Flip This Wholesaler that really sums it up.
The name of the post is called "Paying the Price "… and is dead on when it comes to telling it how it is as far as why the heck so many people don’t make it in real estate… or even life for that matter.
In short… those who are successful realize that there is a price to be paid… pay it… and live to tell about it in a bit fancier house than before.
But… to many people are programmed to take the easy way out and don’t get it in their hard noggins that for anything worthwhile there is a price to be paid.
Whether that price to be paid is:
- Money you are forking over or living without (this isn’t always the answer though… usually it isn’t)
- Time you spend working hard
- Headaches and getting the runaround from idiots in this world
- Hearing that "you’ll never make it"… and pushing through that "headtrash" that unsuccessful people pour onto you
It really doesn’t matter. Whatever it is… to get something truly desirable you have to give up something that you treasure.
For me, that is my time and security .
- My Time – To build up this website (and my other businesses) I’ve given up countless hours that I’ll never get back. Most of those hours are "unpaid" and are purely sweat equity that I know will be worth gold in the future. Overall, I love what I do so I don’t mind at all putting so much time into my current and new business ventures… I know how to pay the price and I know things will turn out great pretty much every time.I didn’t have hardly any money to build any of my businesses… so each business was pretty much built on sweat equity and pouring most of the profits back into the business to make it grow.
- My Security – Do you think you could live on $1,000 a month for almost a year while supporting your spouse who is going through graduate school and bringing in no money? Heck… I did that.. it wasn’t fun. I took a marketing job that paid very little because it allowed me a bit of flexibility so I could pursue my own ventures on the side.Did it hurt? Yep… I’m still feeling the pain because of the credit card bills I racked up during that year just to survive. Was it worth it? Every second. If I would have taken the easy way out and not "paid my dues"… who knows what I’d be doing. I’m sure I’d have a job that would be paying me a good solid wage, great benefits, and job security. Sounds great huh??? Well… not for me.
For me, "paying the price" had nothing to do with me giving anyone any of my money. It had everything to do with me giving my time, my passion, my security, and my personal life for the entrepreneurial dreams that I had (and still have today).
"I Paid $5,000 For A Seminar… Isn’t That Paying The Price Enough?"
You know what, too many people take "paying the price" or "paying my dues" too literally. They think that "all I have to do is go to this $5,000 seminar… and I’ll be on my way to success!". I wish.
If that were the case, I’d be getting every credit card I could get my hands on and maxing them out on seminars, at home study courses, and mentorship programs. Man… that would be a breeze. I’m not saying that seminars, courses, and mentorship programs aren’t worth it. There are some great programs out there that will help you be successful much more quickly… but NONE OF THEM will help you to learn how to pay the price and outlast adversity.
But… that’s not the way life is. I’d venture to say that pretty much anything truly worthwhile in life can’t be bought with money. It has to be earned with your time, hard work, sacrifice, and honesty.
So, long-story short… nope. Paying a few grand for a seminar isn’t paying the price. That’s gaining education so you can go out and pay the price.
So, What is Paying The Price?
Pretty simple.
It’s doing what NEEDS TO BE DONE for AS LONG AS IS NECESSARY to reach your goal. That’s it.
In most cases people get the "doing what needs to be done part", as far as learning the stuff and maybe going through some of the actions.
Where most people fail is the whole "as long as is necessary" part. That’s the tough part. This is the part that is hard, is taxing on you mentally (and sometimes financially), makes you wonder why the heck you are doing it, and a whole slew of other stupid pshchological stuff.
As Steph says , real estate investing is NOT EASY . It’s damn tough.
But… it’s also damn worth it.
Push Through The Brick Wall And Pay The Price
If you haven’t already… check out an inspirational video I posted way back in 2007. This video says it all.
You need to put on your blinders and block anything and everything that lets you think that you won’t make it. Even when you feel like giving up… keep going.
If you keep going… you’ll surprise yourself and get way further than you ever dreampt you would.
Kind of like the video… put on that blindfold… start crawling… don’t stop even when it hurts… and never give up.
Again… you need to Pay the Price to be successful in real estate. Decide if you’re willing to truly pay the price in time, energy, security, and your personal life first. If you know you can and will pay that price… only then should you even consider paying a monetary price for ANYTHING.
Hey, my name is Trevor and I'm the founder of The REI Brain and a real estate investor since the age of 21. Right now, my focus in real estate investing is multi-family income properties and I have plans on moving more into the commercial real estate investment world in 2008 and beyond. 
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