Is being overly ambitious bad?

Is being overly ambitious bad?

New to Real Estate · Los Angeles, CA · Member since 2017 · 118 posts · 60 votes
Hello BP family. Let's get right to it. I've always been an ambitious go getter since I was a kid. Never followed the pack always stood alone and wanted more than the average. I grew up in a low income area, but always ventures out to discover more. It expanded my mind at a young age and instilled the mentality of, "if they can get it, I can too". I had no one to share my goals and visions with because they were stuck in the "poor, only rich people can have these things or do this and that mindset". It never discouraged me. As I get older I want more and my goals grow. I started running a clothing brand and learned a lot from my venture. I learned marketing, customer service, social media marketing and a lot more. I recently put it on hold because it was growing and I needed more capital to continue to expand. I've always wanted to become a REI and always thought that I need a lot of money to do so until I started researching and it just went on from there. Reading books, listening to podcasts, going to events, etc. I'm a GO-GETTER, my mentality is, I come from nothing, so I have nothing to lose and everything to gain. A few of my short and long term goals are(no particular order): -invest full time -have an expansive rental portfolio -run a successful investing company, closing at least one deal per week -speak to people about wealth(motivational speaker -continue growing my clothing brand -develop an island in Fiji -write a book -open a Rec center in my old neighborhood that teach the kids different things besides gangs, violence, and drugs -own part of an NBA team Most people will tell me that I want to do too much, but I have it planned out with a timeline of when I want to achieve these things. There will always be alterations to your goals, I don't expect it to go as planned. I am working hard on achieving one goal at a time and I WILL MAKE IT HAPPEN. This is just me venting, sometimes you need the encouragement from others, whether that be someone telling you to go for it or the person that isn't as ambitious and say "you can't do it all". I am very appreciative of everyone's POV. Thank you and sorry if the post is too long.
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Real Estate Investor · Encinitas, CA · Member since 2016 · 3k+ posts · 3k+ votes
9y
Dorian Jones Overly ambitious can be a double-edged sword. Since you want to own an NBA team I'll try and use some horrible basketball analogies. So many ambitious real estate investors (new ones) are looking to hit that 3-point shot every, single, time. They don't look to the post for the well positioned center for the easy layup. A layup gets you two points but there's very little risk. A three pointer is 50% more points but a ton more risk. But in real estate you don't have people rebounding down low. You jack up that three (a high risk investment) and you miss, well you don't get a second shot. Taking the needless three for the sake of ambition isn't (my opinion) the smart play. There's nothing wrong with passing (on deals and the metaphorical basketball) until that east layup presents itself. Okay, I admit, this is a really poorly constructed analogy but I hope it makes sense.
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  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    9y

    I would be very, VERY, disappointed in anyone that didn't aim high.  You will never reach success if you don't.  Those that say they aimed low and were successful, are people I don't associate with...and never want to meet.  Go for it...and don't stop until you reach it....then keep going.

  • New to Real Estate · Los Angeles, CA · Member since 2017 · 118 posts · 60 votes
    9y
    Joe Villeneuve thank you. I can't stop if I wanted to
  • Real Estate Investor · Encinitas, CA · Member since 2016 · 3k+ posts · 3k+ votes
    9y
    Dorian Jones Overly ambitious can be a double-edged sword. Since you want to own an NBA team I'll try and use some horrible basketball analogies. So many ambitious real estate investors (new ones) are looking to hit that 3-point shot every, single, time. They don't look to the post for the well positioned center for the easy layup. A layup gets you two points but there's very little risk. A three pointer is 50% more points but a ton more risk. But in real estate you don't have people rebounding down low. You jack up that three (a high risk investment) and you miss, well you don't get a second shot. Taking the needless three for the sake of ambition isn't (my opinion) the smart play. There's nothing wrong with passing (on deals and the metaphorical basketball) until that east layup presents itself. Okay, I admit, this is a really poorly constructed analogy but I hope it makes sense.
  • Investor · Los Angeles, CA · Member since 2017 · 95 posts · 52 votes
    9y

    As long as you don't stomp all over people I don't see a problem with it.  Go get it @Dorian Jones!  Love the last 2 goals btw.  I hope the NBA ownership team you eventually join will be the Lakers because I have some suggestions for management.

  • New to Real Estate · Los Angeles, CA · Member since 2017 · 118 posts · 60 votes
    9y
    Andrew Johnson lol, it's not that bad of an analogy. I get what you're saying and appreciate your response. I'm all for the low risk Investments, but there will be a point where you have to take those higher risks. I don't plan on taking high risks personally, unless the gain makes Ames and I can afford the potential loss. I think planning strategically will be the key. Being semi-conservative is how I see it working from your point of view. I really appreciate your input. P.S. Me owning an NBA team has always been a dream of mines
  • Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
    9y
    It's not a bad thing to be overly ambitious, most of the time it's a great thing. I'd say for REI it's important to make sure you have realistic goals (for example doing a syndication as your first deal probably isn't realistic) and that you don't over leverage/expose yourself.
  • Rental Property Investor · Seattle, WA · Member since 2014 · 1k+ posts · 1k+ votes
    9y

    It's not bad, but you will find people will hate you for your success. The vast majority of people will never become millionaires, so you will find that people resent the fact that you made it despite every disadvantage, while they failed despite having EVERY advantage. It's a reminder of their own shortcomings.

    You will also find that a high level of success and ambition makes you not be able to relate to your old friends much anymore. I have friends in their late 30's and 50's still being financed and subsidized by their parents (living with them, getting rent money, tuition, car payments, etc.). As you make it despite having none of the advantages they had, you'll start to drift apart realizing that you have different capabilities and problems. People will expect you to pay for the group outing because you're doing better than them. I've had former friends invite themselves over so they can eat more filet mignon and lobster at my expense...

  • Ivan BarrattBusiness Member
    Investor · Indianapolis, IN · Member since 2015 · 764 posts · 953 votes
    9y

    @Dorian Jones Go get it Dawg and don't listen to the haters! Be mindful of whom you get advice from!

  • Real Estate Agent · Westboro, MA · Member since 2016 · 1k+ posts · 471 votes
    9y

    @Dorian Jones

    Its great to have large goals, limiting beliefs can destroy you !

  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    9y
    Originally posted by @Jack B.:

    It's not bad, but you will find people will hate you for your success. The vast majority of people will never become millionaires, so you will find that people resent the fact that you made it despite every disadvantage, while they failed despite having EVERY advantage. It's a reminder of their own shortcomings.

    You will also find that a high level of success and ambition makes you not be able to relate to your old friends much anymore. I have friends in their late 30's and 50's still being financed and subsidized by their parents (living with them, getting rent money, tuition, car payments, etc.). As you make it despite having none of the advantages they had, you'll start to drift apart realizing that you have different capabilities and problems. People will expect you to pay for the group outing because you're doing better than them. I've had former friends invite themselves over so they can eat more filet mignon and lobster at my expense...

     I like this post. If/as you become more successful - however you define success - you will find a) you will have trouble relating to people who were paddling in the same river as you, and b) some people will shoot torpedos at your canoe. But this is true in anything where you grow - the scenery changes and so do the people in it. 

    Anyway, back to your post - is being overly ambitious a bad thing? Well, I don't know if there's a such thing as too much ambition, but I do think you had to dig deeper to understand what the underlying rationale is behind those goals. Not to go through them all, but for example one of your goals is to close on one investment per week. Why? For the money? You can get money in other ways. For the fame? Fame is fleeting. For the internal feeling of success? OK, but why does one closing a week make you successful. ETC. You say you want to develop an island in Fiji. Why Fiji? Why not the Marianas? Or a reef off of Panama? Some of your ambitions sound like something geared towards showing *other* people how successful you are. If that's so, you should just forget about that, because no one else knows, cares, or remembers if you are successful. In 150 years there won't be a single person on this planet that even knew you were alive. That should be sobering enough to realize that externalities are fleeting - you have to find the measure of success inside you. @Andrew Johnson's post was a good one - don't ignore the layups because the 3-pointers make you look bigger in someone else's eyes. Don't know if you follow baseball, but Kyle Schwarber was just demoted from the Cubs despite being a major prospect, having several years in the bigs and a dozen or so home runs. He misses (or doesn't take) all the layups. 

    All that said: given the choice between a slug and a go-getter, I'll take the go-getter every time. 

    I can get onboard with the owning the NBA team, though. I play fantasy baseball and that's a baby version of the same thing :)

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  • New to Real Estate · Los Angeles, CA · Member since 2017 · 118 posts · 60 votes
    9y
    Joe J. I'm an honest person so I won't do anything to anyone I wouldn't like done to me. Lakers would be nice, but pricey. I think I can pull it off though.
  • New to Real Estate · Los Angeles, CA · Member since 2017 · 118 posts · 60 votes
    9y
    Caleb Heimsoth I agree. Don't move ahead of myself and focus on the task(s) at hand
  • New to Real Estate · Los Angeles, CA · Member since 2017 · 118 posts · 60 votes
    9y
    Jack B. Great point, sometimes you outgrow people, this journey isn't for everybody. P.S. I'd like to come visit for steak and lobster too. Lol
  • Rental Property Investor · Seattle, WA · Member since 2014 · 1k+ posts · 1k+ votes
    9y
    Originally posted by @JD Martin:
    Originally posted by @Jack B.:

    It's not bad, but you will find people will hate you for your success. The vast majority of people will never become millionaires, so you will find that people resent the fact that you made it despite every disadvantage, while they failed despite having EVERY advantage. It's a reminder of their own shortcomings.

    You will also find that a high level of success and ambition makes you not be able to relate to your old friends much anymore. I have friends in their late 30's and 50's still being financed and subsidized by their parents (living with them, getting rent money, tuition, car payments, etc.). As you make it despite having none of the advantages they had, you'll start to drift apart realizing that you have different capabilities and problems. People will expect you to pay for the group outing because you're doing better than them. I've had former friends invite themselves over so they can eat more filet mignon and lobster at my expense...

     I like this post. If/as you become more successful - however you define success - you will find a) you will have trouble relating to people who were paddling in the same river as you, and b) some people will shoot torpedos at your canoe. But this is true in anything where you grow - the scenery changes and so do the people in it. 

    Yeah, that same friend and his wife were happy to come over to my house and eat my expensive food. They leech off of his parents too. When his wife called me the loser at the table in an obvious attempt at a dis (she thinks her husband is going to become a CPA, yet he's been going to Devry for 10 years for a 2 year degree, keeps failing all his classes, paid for by the bank of mom and dad), I realized that I pay more in taxes than both of them combined GROSS in a year, and that hanging out with people who are so unsophisticated is not helping me, and just a waste of time. They still keep inviting themselves over but I decline. It's been two years and they still try. At this point I'm hoping they get the hint and leave me alone.

    Funny thing is, when I mentioned this on reddit, all the $12 an hour people started attacking me for being successful, calling me a douche bag who is pretentious, and siding with the person that tried to insult me but just really insulted herself...lol.

    They don't even understand what pretentious is (pretending to be something you are not). I guess driving a 13 year old car with dents and scratches and wearing a $30 watch despite being a millionaire is being "pretentious" if you don't actually understand big words....

    I made it despite standing on my own two feet since 18, paying my own apartment rent, tuition, etc. He has not made it despite living with his parents most of his adult life and living off of them for tuition and other expenses too. 

  • New to Real Estate · Los Angeles, CA · Member since 2017 · 118 posts · 60 votes
    9y
    Jd Martin thanks for your response. It's it so much of a status symbol, its more of personal satisfaction. I don't care about fame(I don't even like people to know who I am with my other business). I love the feeling of achieving my goals, I hope everyone feels the same way. Despite my ambitions I am very humble, down to earth and the coolest person you'll ever meet. I'll give a homeless man the jacket off my back. These goals are there for my inspiration, to remind me to keep going. I want to close a deal per week for a few reasons. Not just financial freedom, but to continue to create opportunities for me to be in the position to help others feed their families and give people opportunities to change their lives. If I'm closing a deal a week then that means that I have work that needs to be done and create those opportunities. I want to help as many people as I can on my journey. I'm still learning myself, I want to be that person that gave someone a chance that changed their lives. I want an island resort, I'm not stuck on Fiji, but I love South Pacific region despite the conditions. I'll worry about the specific location once I cross that path, whatever makes sense in the market at the time and also some place that I'll enjoy. I want to be able to vacation there and write it off. Owning part of an NBA team has always been a dream of mines, and I'm determined to get one before I lever this earth. I think WE can make it happen.
  • New to Real Estate · Los Angeles, CA · Member since 2017 · 118 posts · 60 votes
    9y
    Jack B. This mindset isn't for everybody. You need those people in the world. There are employers then there are employees.
  • Flipper/Rehabber · Rochester, NY · Member since 2014 · 1k+ posts · 1k+ votes
    9y

    @Dorian Jones the thing that sets you apart is that you are a doer.  And you have a plan for the next step or two.  Good for you!

    Rah-rah goals won't get you far without a plan and a work ethic.

  • Engineer · Portland, OR · Member since 2014 · 1k+ posts · 1k+ votes
    9y
    As Larry said ambition and motivation account for very little without grinding out long hours of hard work, at least to start. Almost all failure, at least in the States, can be traced to unwillingness to work hard on your well-defined goals. Being ambitious or motivated tends to be emotionally driven behaviors and thus are bound to fade and falter once faced with any adversity or unpleasantness.
  • Rental Property Investor · Dallas/Fort Worth, TX · Member since 2017 · 64 posts · 59 votes
    9y

    "If you aim at nothing, you will hit it every time" - Zig Ziglar

    Set your goals (and aim high), make a plan, get to work, and stick to it! 

  • Anthony GaydenPro Member
    Rental Property Investor · Omaha, NE · Member since 2014 · 2k+ posts · 3k+ votes
    9y
    Dorian Jones It sounds like you and I are very similar. In my opinion there is no such thing as being too ambitious. I imagine myself being super rich and super successful. There is no settling for less. Go for your goals. Aim high. DO NOT STOP!!!
  • New to Real Estate · Los Angeles, CA · Member since 2017 · 118 posts · 60 votes
    9y
    Steve B. Hard work is a must. I always say, "the dream is free, hustle sold separately"
  • Ian WalshBusiness Member
    Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
    9y

    No such thing as overly ambitious.   Not to be confused with a lack of patience.

  • Investor · Tulsa, OK · Member since 2017 · 20 posts · 16 votes
    9y
    Originally posted by @Dorian Jones:

    Despite my ambitions I am very humble, down to earth and the coolest person you'll ever meet.

    "The coolest person you'll ever meet." This doesn't seem too humble hahaha 

    But on a more serious note i respect what you are doing and forget everyone else, do what you have to do and let others fall behind you. You are the exact model of the book the 10x rule.

  • Alhambra, CA · Member since 2015 · 142 posts · 78 votes
    9y
    Originally posted by @Dorian Jones:

    Hello BP family. Let's get right to it. I've always been an ambitious go getter since I was a kid. Never followed the pack always stood alone and wanted more than the average. I grew up in a low income area, but always ventures out to discover more. It expanded my mind at a young age and instilled the mentality of, "if they can get it, I can too". I had no one to share my goals and visions with because they were stuck in the "poor, only rich people can have these things or do this and that mindset". It never discouraged me. As I get older I want more and my goals grow. I started running a clothing brand and learned a lot from my venture. I learned marketing, customer service, social media marketing and a lot more. I recently put it on hold because it was growing and I needed more capital to continue to expand. I've always wanted to become a REI and always thought that I need a lot of money to do so until I started researching and it just went on from there. Reading books, listening to podcasts, going to events, etc. I'm a GO-GETTER, my mentality is, I come from nothing, so I have nothing to lose and everything to gain.

    A few of my short and long term goals are(no particular order):
    -invest full time
    -have an expansive rental portfolio
    -run a successful investing company, closing at least one deal per week
    -speak to people about wealth(motivational speaker
    -continue growing my clothing brand
    -develop an island in Fiji
    -write a book
    -open a Rec center in my old neighborhood that teach the kids different things besides gangs, violence, and drugs
    -own part of an NBA team

    Most people will tell me that I want to do too much, but I have it planned out with a timeline of when I want to achieve these things. There will always be alterations to your goals, I don't expect it to go as planned. I am working hard on achieving one goal at a time and I WILL MAKE IT HAPPEN.

    This is just me venting, sometimes you need the encouragement from others, whether that be someone telling you to go for it or the person that isn't as ambitious and say "you can't do it all". I am very appreciative of everyone's POV.

    Thank you and sorry if the post is too long.

     If you have been blessed with the eternal fire, I say go with it.  Not all are so motivated. Many are distracted by all the bright flashing lights that surround us.  I love the "develop an island in Fiji" goal. So specific.  

    Do you mind if I ask where you are in the process of picking up your first investment? Maybe you have several already, I haven't stalked your online profile yet.  I don't own any yet, about to graduate with MS in engineering to help save up for a down payment :)

  • Investor · Richmond, VA · Member since 2016 · 1k+ posts · 2k+ votes
    9y

    @Dorian Jones,

    You need to realize upfront, *YOU* are your biggest competition-- there's always going to be people who make more and people who make less.    Just realize upfront, majority of the people won't understand, and will be debbie downers, and be jealous.   @Jack B. nailed it-- it's something no one really talks about, but you'll outgrow people, it's hard to be excited for my 8th house, and talk to a friend who is still renting.     That's why BP is amazing, it's a lot of people who have been in your shoes, and did it!     I am just starting out, but often tell people-- my secret is easy-- working my butt off! 

      Also, you mentioned helping young kids, can you be a big brother now, or organize some things to get the ball rolling?  Setting up a non-profit would be very fulfilling!  Focus on getting started-- as long as you're pushing yourself in the direction you want to go, it's a positive thing! 

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