Episode 51 & 52 - The Finale Part 2

Well, it’s finally here. I have a hard time accepting that it’s already been a year. I felt like it was too short. I didn’t have enough time to grow and become the success I had imagine. Nonetheless, it has been a tremendous adventure. Plenty of ups and downs and lessons to be had. I tried to have this post up on time, but at last, this is several weeks late. It turns out that I have a little too much going on.

Before I impart one last thought, I want to express gratitude and thanks everyone that has and continue to help me throughout this last year. Thanks to bigger pockets and all its members. Thanks to all who have commented and encourage me to keep moving forward. I honestly have learned so much from this website and community. So once again, a big thank you.  Special thanks to the mobile home forum section.

The only thing I really have left to share is how over this past year I have really discover the difference between understanding vs knowing. As I am now in the midst of rehabbing my second project, a.k.a project rocky, I can see clearly how much work is involved in this business and how easily it is for everything to go wrong and why so many quit.

I think like most people, the learning process and discussion about real estate is quite easily the most exciting thing when you’re a newbie. Being bombarded by the different ideas and concepts become so fascinating that much of the understanding and learning becomes idealized. Speaking for myself of course, I thought I had clearly understand everything and therefore that would automatically guaranteed success. Clearly delusional.

For the uninitiated, if there are any left, the difference between understanding vs knowing in the real estate investing world is very similar to riding a bicycle. I can watch all the videos, read all the books and completely understanding how bicycle riding is suppose to work until the moment I get on the bicycle and try doing it. This is the big realization that I have came upon in this past year. It is by far the biggest lesson that I’ve learned and yet quite hard to share across a screen. Heck, even with all the tips, tricks, videos and guides, one can assume that almost everyone will fall whenever they learn how to ride a bicycle.

So what’s the point? The point is that knowing how to invest in real estate requires doing. It requires practice so the big questions to ask are, how big of a fall am I ready for and how often am I ready to get back on the bike and try again. Almost everyone can succeed in learning how to ride a bicycle, so I have full confident almost everyone can learn and invest in real estate successfully. The key is to get back up and try again.

And that’s all I have in this episode. Project Rocky is nearing the end and the lesson for me this week has been why GCs exists and to why investors like to use them. A simple lesson that I didn’t know until now even though I had previously understand the concept way early on. I feel compelled to write an epilogue when project Rocky is complete, so my few readers can look forward to that. I will provide all the numbers once it’s all done, of course.

Thank you so much for reading and hanging out with me during this past year. As I am now going into my second year, much of what I have left to share has already been shared. I don’t believe there will be much more benefit in sharing discoveries and lessons when biggerpockets is already doing a way better job of that.

Writing this blog has been partly for accountability and since I am now sure I will continue doing this, I am no longer in need of blogging. Whatever lessons and discoveries I made will be uniquely mine just as riding a bicycle is unique and yet the same experience for everyone. Thanks again for reading and best of luck.  See you at the top !! :)