Talking to (Successful) Real Estate Investors

[Steven M. Hughes]

I'm getting my start in real estate investing through wholesaling. I had someone that posted on my  to start contacting real estate investors in my area so I reached out to someone that I've seen purchase property in my neighborhood. After talking to him, he told me a few things:

• Real estate investing was the worst idea he's ever had.
• There's no money in it.
• It's a good idea to hold a home after 12 months because the taxes are lower (even though he finished the rehab in 6 months)
• If I'm smart enough to think about real estate, I should be smart enough to come up with something else that's going to make some "real money"

Needless to say, I'm contacting other investors. Successful investors. Have you had negative encounters like this at the beginning of your investing career?

"Only difference between a winner and a loser is a winner plays until he wins" - Justin Scott

[Account Closed]

While he may have been overly negative I do think that he has some valid points. People watch these TV shows and think that house investing is easy money. Lots of people are just dreamers and want to become rich with no investment of time or energy. There is lots of money to be made in real estate sure. But it is a business. I certainly have not made any easy money in this business. I think for every success story there are 50 who don't make it. A positive attitude is great. But you need more than hype and hope. You need dedication and persistence. You need a willingness to work.