Home Runs or Steady, Ever-Growing Revenue?

[Vincent D.]

Newbies on the "fringe" often hear about real estate investing through sources which churn up emotional enthusiasm over the thought of "quick", "easy", and/or "huge" profits. In truth, very few ever have the "home run" experience again and again. Not to say that it doesn't/cannot happen, and it should always be held as an aspiration within grasp (in my opinion), but not to the extent that the most common real estate success path be ignored (steady, longer-term wealth accumulation upon which to eventually quit your office job and to retire from...very comfortably and well before you hit 60!).

I've had a handful big-profit deals over the last 9 years, but the thing that gets me most excited is sustainable, passive income. I quit my "day job" years ago, not because of "home run" deals (which, by the way, are MUCH easier when mortgage money isn't extremely tight like it is now), but with a steady, ongoing accumulation of real estate deals which provide monthly income.

To do this properly requires focus, determination, and perseverance, among other things. In fact, I would suggest to newbies on the "fringe", kicking the tires around the perimeter of the REI arena, that unless you have some short and long term goals, you will likely not succeed in the REI industry. In fact, without a bit of focus up front, it is likely that you will bounce fruitlessly from one incomplete RE endeavor/method to the next, quickly losing faith in each one, in turn, before making a dime. Find a plan that has been tested and proven, and GIVE IT TIME to work. Follow it explicity. Don't look for short cuts or personal "improvements" until you've had enough experience to justify such. Stay in touch with peeps here on BP with your deal search, number crunching, and nuances. Always defer to experiential wisdom.

REI can indeed produce those glorious successes you've heard about, but not without commitment! And MOST of the time, it happens over a longer time spectrum and NOT based on a string of "home run" deals!

Not sure why I'm writing this - just a whimsical stream of thought that I felt was worth solidifying into words. I want to simultaneously give hope and caution to aspiring real estate investors!

Peace,

Vince