I’m the kind of person that when a challenge comes my way, I love to take it on.
I am motivated by competition, but I understand that not everyone is. Being in the real estate investing world is not an easy place to get assets if you’re not motivated by competition. But it’s not an easy place to be in general.
Being in the creative financing world and the real estate space gives you a lot more flexibility.
When I say I’m motivated by competition, I don’t mean I’m trying to outbuy, outsell, outflip, or out-anything other real estate investors. There is so much opportunity in real estate that we shouldn’t be competing with each other to get deals; we should be working together.
The only person I’m motivated to be better than is who I was and what I did yesterday. I understand that I’m only competing with myself, because that’s the only guy I actually need to be better than.
So, trying to be better than I was yesterday, I take the time to adjust my strategy in the creative financing space. If I was a traditional fix and flipper, I’d be stuck in a box and wouldn’t have any way but one way to make a profit. Creative financing gives me the opportunity to find deals, help people and make a profit almost anywhere.
If we are competing against each other instead of working together, two really important things get forgotten: you have an opportunity to help sellers and there are opportunities everywhere.
If we’re competing, we’re keeping secrets. We may be hiding leads, distressed sellers or even just basic information that other people can help us with. When we’re working together, we’re sharing the extensive amounts of leads and sellers with each other so we can help our communities and our businesses.
In the SubTo community, I hold nothing back about the techniques and strategies I use to invest in real estate. This creates an environment where I have more space to work with other investors or wholesalers so that everybody wins.
You learn to see traditional real estate investing for what it is – outdated. The world we live in now has so much going on that people who set up the original method of getting a loan from the bank could never have anticipated.
So if our world has changed so much, how come real estate investing hasn’t? The truth is, real estate investing has evolved, but if you’re stuck in the old mindset of competition instead of collaboration, you’ll never learn how to see new opportunities when they present themselves.
You’re only going to see setbacks.