In this episode, I tell you how to become an expert real estate investor. That’s right. I give you the secret, and it’s really not that difficult; you just have to do some things that most people are not willing to do!
I hope that the title of this podcast is not too misleading. I am not trying to be overly dramatic, but I can tell you how to become a real estate expert. The formula is simpler than most people make it out to be. It is actually the same formula for becoming really proficient at anything. Wait for it…….
That’s right, anyone can become an expert in virtually anything with a little bit of hard work. The great thing about real estate is that you don’t have to invest a lot of money to become an expert. There’s more than enough material available online for free to get started. Eventually, you will want to invest some money for advanced or very targeted training, but it is absolutely possible to become an expert without spending any money on education. What you will have to invest is time. If you’re willing to spend a lot of time, you can learn very inexpensively or for free. If you would like to shortcut some of the time needed, you can spend money.
The bottom line, however, is that hard work and taking action consistently over a period of time will make you an expert in real estate. The reason why most people cannot seem to ever make a go of real estate is because they don’t want to put in the hard work necessary. In my interview yesterday with Steve Mills, Steve had a great perspective on questions he receives regarding his success in real estate. For example, when somebody asks him how he manages to make so many offers and get so many deals, his answer is: “I am able to do it because I do make so many offers and do so many deals.” In other words, the magic is in the work. There is no silver bullet in business. The people who put in the hard work, time, and dedication, always end up getting “lucky”. Hard work will produce good “luck”.
If you want to be good at flipping houses, you need to flip a lot of houses. Once you flip a lot of houses, you will be very good at flipping houses. If you want to be good at wholesaling properties, you have to wholesale a lot of properties. There is no getting around it and no substitution for putting in the work. Failure will also help lead you to success. Nothing teaches you faster than falling on your face. The sooner you get those failures behind you, the closer you are to being an expert in your chosen business. Later in the week I am going to dedicate a few episodes to the concept of why failing is really good for your business, and how having a lot of information can be the worst thing that can happen to you.
For now, this is my message: Work hard. Take a lot of action. Understand that you will fail a lot in the beginning. Continue to work hard and take action. This is the only way to become truly great at what you choose to dominate.