This Business Really is Simple
Success in the Real Estate Investing "Bidness" is simple. Spend your time wisely, marketing for Deals and Dollars. If you consistently narrow down your time and focus on those two activities, you will see results. Get back to the basics. While bootcamps, books and tapes are great for learning, they don't always convert to deals or dollars.
Now, go find some deals and dollars!
Comments (7)
I agree that one can spend too much time educating themselves and be slow to act. Everyone has a buddy who has every gurus stuff and still hasn't put a deal together.
Jimmy C., over 14 years ago
I agree with Curtis. Although this business is simple in nature, there are alot of "items" that pop up as you grow your business. I agree with you that you need to keep your business simple, but as you grow certain laws (example: SAFE Act) can complicate your business just enough to keep your eye off the simplicity all the time.
Kevin Kaczmarek, over 14 years ago
The business is VERY simple but very HARD. People try to complicate it by trying to come up with EASY ways to make money. That's more of the problem then people sticking to simple basics and gradually growing their business to start with. Real Estate is a momentum business. It's tough to get started and usually starts slowly but once it gets going it speeds up rapidly but if you get ahead of yourself youll run off the tracks. Curtis
Curtis Gabhart, over 14 years ago
I agree that the two things you cited are the most important items, but I disagree that the business is simple. There is plenty to learn and having all the money in the world and good deal flow does you NO GOOD if you don’t know how to recognize a deal and put it together correctly.
Bryan Hancock, over 14 years ago
Josh, good reminder that the difference between simple and easy can be immense.
Jon Klaus, over 14 years ago
Tyler - While I agree that in concept REI is simple, in practice it is not. In running BP for almost 6 years and in being in the game for close to 10, I've seen countless people come and go, while only a small percentage actually end up having long-term success. I think it is the responsibility of successful investors and real estate educators alike to be realistic with newbies. All the hype out there just leads to more disappointment and bad feelings for the bulk of these folks who expect to be able to make money with little time or effort because supposedly "the business really is simple." Far too many people fail for your statement to be true, IMO.
Joshua Dorkin, over 14 years ago
A continual focus on fundamentals does indeed bring results. We just tend to want to trick up our plans, which can distract from what really works.
Jon Klaus, over 14 years ago