People often ask me about building a real estate investment business and why I’m not stressed about losing money, or dealing with tenants and so on.
They wonder how I have so much time and freedom as I’m building my real estate investment business.
They’re stunned I rarely have to ‘deal with tenant crap’ and have properties that are kept in great condition – (read: they’re not trashed all the time)
First of all – that’s they’re perception of building a real estate investment business.
Don’t know where they got it from…but that’s what most of the people I meet think real estate investing is.
Second, I’m not so sure they understand real estate investing is a business like any other business.
That means I have employees and customers.
My tenants are my customers & my realtor, real estate property manager, lawyer, mortgage broker, cleaners, handy people etc are my employees.
I’m not a slum landlord.
I treat people with respect. Yea, sometimes people take advantage of me – but that’s life.
Nowhere in any business manual have I ever read ‘everything will be perfect’.
And that means that there IS sometimes ‘stress’. But it’s how we deal with it.
I’m blessed that I don’t have a LOT of stress I see with so many other real estate investors.
Honestly, I can’t imagine how they deal with it every day.
That’s one of the reasons I sold my family company – to eliminate the every day stress.
Most people I meet want to be building a real estate investment business
However, they have every reason under the sun why they aren’t.
Thankfully some of them have taken my advice and bought property – some of them have become my personal JV partners – which means they’ve still ‘bought properties’ but they’ve gone a step further to eliminate ANY worry about their investment because I take care of it all.
Cool right?
Six years ago (at the time of this writing) I had no clue how to invest in real estate.
All I knew was that I wanted to DO something with the money I had.
I didn’t want to waste any more time.
Was it risk ?
Damn right (this was 2008 remember??) – and there still is. And it will ALWAYS be there.
So I learned what I needed to learn – from people who were doing it.
Thank God I’m such a believer in myself. (nothin’ wrong with patting yourself on the back once in a while)
But after that, after stepping into the ‘fear’ and coming out the other side, it all has to do with how I manage my life – and THEN how I fit my real estate INTO it.
The choices I make (which homes to buy , where to buy, which tenants profile I attract etc) are all in-line with MY lifestyle first. I don’t chase every opportunity that is presented or I hear about just because I’m building a real estate investment business.
That means I’m so in tune with what I’m UNWILLING to give up first…
Which leaves what I’m willing to do.
I think a LOT of people have this backwards … but that’s just my opinion because I’m training and coaching so many entrepreneurs and see their ‘reasons’ and ‘excuses’ as to why things aren’t changing.
I hear the ‘hopes’ and ‘dreams’ of people who would ‘like to’ invest in real estate some day but complain about the crappy job they have to drive to and from every day.
I’ll leave you with this:
I have the freedom today because I’m building a real estate investment business that way – no other reason.
I didn’t FIND freedom.
It didn’t just ‘land in my lap’ one day either.
I CREATED it.
And a huge misunderstanding I find with many people is they think they’ll FIND clarity – freedom – happiness – wealth or whatever it is they’re missing in their lives.
No way – keep dreaming.
YOU have to go create it. No other formula you need to know.
Peace, wealth and freedom. Great speed forward in building a real estate investment business of your own!
Joey