September 24, 2019

This weeks message from Mom

As The Mother of Foreclosures I think it is necessary to reach out occasionally to let you know about things I have observed or learned that might be beneficial for me to pass along.

Recently I have observed that the newcomers to the investing world seem to be markedly different from the the newcomers of decades past.  I attribute the difference to HGTV making light of the business, portraying it as easy.  Much of the legwork, perhaps for the sake of time, is not revealed.  Maybe they do not show the hours of work that goes into cultivating leads and working them until a successful deal is closed because that side of the business is slow and tedious and in all honesty, difficult. It doesn’t make for good TV.   When speaking to a group anxious to get started in Real Estate one of the first things I tell them is this is not a way to great rich quick. There is real work involved.  Most of us can remember our grandparents telling us that anything worth having is worth working for.  How’s many of us actually believed that?  How many of us thought , “That’s what they think.  I know better”?  Do we really know better?  No one in their right mind would consider opening a restaurant without learning the food service industry.  No one would expect to to get that restaurant open and profitable in less than a month.  Why would it be different in Real Estate?  It should not be.  You can get a deal in a month but it is highly unlikely.  That deal can net as much as some people make in a year but it is unrealistic to expect that will happen immediately and consistently without really working for it.  Glancing at leads once a month won’t do it.  Knocking on one or two doors will not get you there.  Working leads everyday is a business.  Working leads once a month is a hobby.  How would you characterize  your experience in Real Estate, business or hobby?  I can assist you either way but you need to be honest with yourself because your results will be very different.  Remember you can have a job or have something to do in your free time .  Which do you choose?

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