1. You’ll have to talk to people that will not appreciate your business. When you do any direct mail or bandit sign marketing you will definitely find some people that will not care for your business model. Most of the time they won’t have any good reason, they just don’t like that you’re trying to make money by buying their house. It can be a real downer when you have to talk to them. So if you don’t like to ever talk to people are upset about life you should stay out of real estate investing.
2. You’ll probably get dirty from time to time. When you’re looking at houses to buy or wholesale you will have to encounter crazy dirty houses. Sometimes the inside of the house are the dirty part. You won’t believe the things that you’ll have to look at and walk through. Just pray that you don’t have to walk through a hoarders house. Yuk!
3. You’ll have to learn technology. With the way technology is heading you’ll have to keep up to be competitive in real estate investing. So if you don’t like iPads find something else to do. The best real estate investors are using easy to use, but hard to set up real estate software to run their businesses. This can be great when working with teams, but if you don’t do technology you’ll have a hard time growing your real estate business.
4. You’ll have to give up your weekends. Now this isn’t always true, and you can set up your schedule any way you want, but remember that most people who will be selling you their houses will have normal jobs. So, you’ll have to meet them on nights and weekends to see their houses.
If you have a family or obligations that can’t be moved on the nights and weekends you’ll have to find a better way to handle things.
5. Getting started can be really hard. I can say personally that it took over a year of hustling for me to get my first deal done. And it was a hard year. If you’re not willing to put in the time to really learn the business, and the language of real estate (this was the hardest for me), then you shouldn’t even consider starting a real estate business.
You need to be prepared to feel stupid, and make mistakes, and brush them off, and make more mistakes. Just know that’s a part of learning. But if you can’t handle making mistakes you should definitely not get into real estate investing.
Getting into real estate investing is completely up to you, and I am in now way saying that you shouldn’t get into real estate investing, but you should know what you’re getting yourself into. Especially if you’re going to spend a boatload of money our an education system or company that’s going to teach you how to get started with a real estate business.
The reason that those real estate education companies can make so much money is because there are so many people that start real estate businesses, but don’t do anything, or quit when things get hard.
When things start to get hard… that’s when things really get interesting. That’s when you start to learn about yourself… That’s the time that you’ll look back on when once you’ve become successful. And you’ll appreciate that time.
Don’t get me wrong, I want you to be a real estate investor, but make sure you do it full out. Don’t half ass it. Play the game as hard as you can, and help as many people as you can in the process.
If you need anything I’m here for you.