The start of a new year is often the time when we look back at what we did and start planning for the year ahead.
With 2022 in full swing, I’ve been hearing from a few people about how they aren’t succeeding the way they had hoped.
Guys, I’ve been in the biz for a while now and I’ve done a lot:
Over 7,000 remodeling projects
Several AirBnBs owned
Hundreds of wholesaling projects
Hundreds of creative financing deals
And through all of that, I’ve come to discover that there are ONLY 3 reasons why people don’t succeed in real estate.
The 3 Reasons You Haven’t Succeeded in Real Estate Yet!
#1. You don’t know what you want
The very first reason and the most common reason most real estate investors have that stops them from succeeding is not having an idea of what they want to do.
Should they do fix and flips?
Should they own apartment buildings?
Do they want to wholesale?
Do they want to do creative finance?
The list goes on and on. The funny thing is, this first reason is a trap that leads directly into the third reason, which we’ll get to later.
So how do you overcome this?
Decide what type of investor you want to be.
This is all dependent on where you are now, so if you’re just starting out, multifamily properties may not be where you want to start.
That doesn’t mean you can’t move on to multifamily at a later point, but right now you have to start with where you are most comfortable, both mentally and financially.
#2. Not taking action
How committed are you to real estate investing?
Watching my YouTube videos, watching my Subto course Zooms, and going to meetups with other investors is great and it’s a fantastic start.
But what else is fantastic?
Calling sellers, finding deals, finding buyers, etc.
There’s the old saying, “if you build it, they will come” but that’s not how things work. You can’t just sit back and wait for people to come to you if you don’t do anything to warrant the attention.
Overcoming this reason is as simple as just taking action. Move the needle, start dialing, start finding deals.
#3. Analysis Paralysis
The first reason people don’t succeed with real estate is because they aren’t sure what they want to do.
Because they don’t know what they want, they jump from one thing to another, from one system to the next, and so on.
That’s why I said the first reason leads into this – analysis paralysis.
There’s so much stuff to learn, so many options to choose, it can be overwhelming; but that’s one you have to choose one to start.
When you start with one thing – whether it’s wholesaling, fix and flipping, creative finance – you can easily switch to another or incorporate something else.
But when you don’t pick one style or system and you try everything, you end up doing nothing.
And now you know the 3 traps that are keeping you from real estate success.
To get out of these traps, you need to get unstuck from where you are. And I’ve got you – I created a free download to help you get unstuck and back on track.
And if you want to get even more help, make sure you join our Subto community.