How to start a Real Estate investing Business From Scratch
What exactly should you to do start a Real Estate investing Business From Scratch?
Its probably not about what you think it is… In our opinion, most people go down the wrong path when they decide they want to become real estate investors, and start their own business.
After 25 years in the real estate and real estate investing business, we have noticed a few trends, things that work, and things that don’t work.
Most people… When they decide to get involved in real estate or real estate investing go about it all wrong.
ARE YOU GOING ABOUT IT ALL WRONG?
They will spend way to much time in what we call “ABOVE THE LINE” activities… Activities that do not produce LONG TERM WEALTH in real estate and and real estate investing.
These “above the line activities”, need to be done… But for people that truly want to create wealth in real estate, they have to learn how to “graduate” out of the “top of the line” activities, and mote into actually creating long term wealth.
These above the line activities….
Of course we all need to learn something new if we want to do something new… However what “topics’ we are spending our time learning in real estate and real estate investing is very important.
For example, is what we are learning about going to lead us to creating wealth… Or just the 2nd and 3rd step of the “above the line” activities. For example… lets take the topic of “wholesaling”… This is a very broad subject and can be studied for a very long team… leading you to learn how to go out and get your first deal….
The First Deal
Some would say that the first deal is the most important, and although we may agree, it shouldn’t be the end goal of your real estate investing business. Nor should it be a stopping point. Unfortunately for many it is.. and they never really graduate to creating wealth in real estate and real estate investing. Getting to that milestone is important and valuable… But has that actually helped you get closer to your long term goal of creating wealth in real estate and real estate investing? Our answer is… Maybe
The Next Few Deals – The Hamster Wheel of Personal Production
This is where most “professionals” end up staying for most of their career. They are on a Hamster wheel of Personal Production and can’t seem to get off. They are just chasing deals one after the other… Or maybe they even have multiple deals in the pipeline. Over the years I have met literally hundreds of people that are “stuck” in this cycle… The problem is.. They don’t even know that they are stuck there. They never really made a plan to actually graduate from chasing deals to actually creating wealth in real estate and real estate investing.
Now don’t get us wrong… We know that personal production has to be a part of the equation… But our question is this…
TO WHAT END IS YOUR HAMSTER WHEEL?
This is where the disconnect is… Most people never make a plan to get “OFF THE HAMSTER WHEEL”… They spend much of their time and effort getting on it in the first place!
It goes back to Goal Setting. Why did we want to get involved in real estate in the first place? Did we just want to get on the hamster wheel? Did we just want to learn how to chase deals for the rest of our career?
Did you know that is actually counter to actually creating wealth? If you’re entire career is built on chasing the next deal(s)… Is that really why you got into real estate? Don’t get us wrong… The pay to do that (either as a real estate professional or an investor) can be great… but is that what you are really trying to do?
This link will take you to our article’ The Next Logical Step” so you can learn what you can do next in your career as an investor or real estate professional.
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Thanks for reading!!