What Sets Investors Appart From Others?

Question

Today we got the keys back from the tenants we inherited from our most recent aquisition. Luckily the tenants weren't too bad and ended their lease in about as positive a way as we could hope for.

My wife was there cleaning all day so I could show it to a bunch of potential tenants tonight after I got off of work from my job (active duty Army).

While I was waiting between showings I decided to take advantage and clean out some trash that was left in the laundry room. As I was putting the trash in my truck I saw a couple of younger 20 somethings hanging out. They weren't doing anything wrong, but I had a thought....I make OK money, but here I am busting it to get ahead. Always trying to do a little more to provide for my family and improve the community. This is one thing that I love about Biggerpockets folks, a relentless effort to do more and be more.

What do you think it is that sets Real Estate investors apart from the rest?

Lynnette E. · Answer

I think that the difference is that in investor is willing to take a risk and do some work to improve their circumstances. A non-investor wants the same outcome as the investor, but wants someone to give it to them without their working for it or them taking a risk.Kind of similar to someone who works for an income and someone who hopes for universal income to come to where they live and just show up in their checking account while they sit home and enjoy life.

Joe Villeneuve · Answer

Easy. I've pondered this question too. Here's my answer using a story I wrote/use for this very purpose:Two people, a REI and one of those two 20 somethings (thought I'd connect this to your story too...LOL), at different times, traveling down the same road. Both trip over the same rock. The 20 something picks it up and fires it away, all the time complaining about how it got there. Previous to that, the REI, in his trip, stumbled of that very same rock. The REI, also picked it up but instead of firing it away, turned it over and saw that it wasn't the problem that the 20 something viewed as an obstacle, it was a challenge, that the REI viewed as an opportunity...and ended up making megabucks off of it.To this day, the 20 something is still complaining about that "rock", and how lucky the REI was for turning it into what he turned it into. Both were presented with the same "rock", but they saw different things when they looked at it, and acted accordingly.

Kenneth Garrett · Answer

@Lorenzo WrightIt takes courage, guts, knowledge, education and hard work. Real Estate Investing is not hard but it’s definitely not easy either. It takes some guts to buy a building, fix it up and rent it out or flip it. What if something goes wrong? It’s not if but when. Being educated and taking initiative is what separates us. It takes hard work and problem solving. If it was easy everyone would do it.

Nathan Gesner · Answer

There are a lot of ways we could answer this but it's basically mindset. Like Joe points out, some people see obstacles while others see opportunity. It's easier to walk through life playing the victim. You were dealt a bad hand, "the man" is keeping you down, you're a minority and can't get ahead because of slavery/racism/whatever, you're a single mom, you were raised in poverty by alcoholic parents that kicked the crap out of you on a daily basis, you can't find a good job, your market is too expensive . . . There's no limit to the excuses we can make.Are you a 5-foot-tall black man born without arms in South Carolina? Be a victim . . . or become a NASCAR engineer.Are you trying to do something good but everyone stops you for 20 years? Be a victim . . . or keep fighting and end the slave trade.Born a female in 1867 when only men can allegedly have a business and get ahead? Be a victim . . . or become the first female millionaire.Lost both your parents by age 14 and then burned from head to toe in Afghanistan? Be a victim . . . or chalk it up to a "bad day at work" and push through the pain to become the first 100% disabled veteran to re-enlist, help start a non-profit for disabled vets, and become a motivational speaker.Bad things happen to everyone. Will that be your excuse, or your motivation?

Nicole Heasley Beitenman · Answer

Investors have figured out that traditional lifestyles are fraught with scams and falsehoods. College and cubicles are not the true paths to wealth, health, or happiness.

Mark H. Porter · Answer

I get asked this question every so often and tell them the only difference is I said “yes”.

Joe Villeneuve · Answer

"It's the hard that makes it great".