Why don't wannabe real estate investors invest? Post 215

Coach Mitch’s REFLECTIONS™

Aside from winning the lottery or marrying into money, investing in real estate seems to be thought of as a way that the average American can gain wealth. They are correct!

Most people I speak with are fascinated by the idea of being real estate investors, but only very few actually do any investing. Why is that? Why don’t wannabe real estate investors invest?

As a coach, when someone new calls me, I always ask what real estate investing techniques they have studied? The prospect proudly tells me about the classes and seminars they’ve attended. When I ask them, “Have you put your learning into practice?” they usually tell me that they haven’t done any deals, or that they did one but stopped. Next, they say that my tax delinquent property system and coaching seems to be the very thing that they need to be successful.

This sounds nice, it is a great compliment,  but it is an illusion.

The real estate investing systems that the guru’s sell all work, however, when we come home from a seminar, after the “seminar high” wears off, typically, we don’t actionize. Sadly, we do not make ourselves over into the person we need to be to effect some lasting change.

Yet, some “just do it.” After they purchase the course, they start doing things even before they finish the course. They may ask some questions, but even without a full understanding, they do not stop from moving forward.

They may not yet have raised monies from investors, however these doers will still start marketing now for motivated sellers. They often do not do everything exactly correct, but they are still way ahead, because they’ve done something, they’ve taken action. As a coach, it is much more satisfying to help overcome an error than it is to continually need to encourage someone to do the work.

Why is this? What is the difference between those who take action from those who do not?

Why don’t wannabe real estate investors invest?

The answer – forcing the will to take an action.

It matters that we do something. Wanting is not doing. Potential is not actual. Dreams are not reality.

The way to activate yourself is – to decide that you will do something, whatever that may be – and then, to do it.

Commit

Determine the objective, determine the strategy, and then take appropriate action. However, before you take action, you must decide you are committed to the outcome.

To decide is to see your future in your mind’s eye and to be committed to it.

To decide is to be determined, resolute, firm, strong-minded, strong-willed, emphatic, dead set, unwavering, unyielding, unbending, inflexible, unshakable, unrelenting, obstinate, stubborn, etc. I’m sure you get the idea.

In effect, this means we have decided that we want to achieve a certain goal. We feel it inside ourselves and it feels like a settled matter, a fact. Failure is not even contemplated. It is a done deal. It merely has to be accomplished.

Interestingly, we might not know how to achieve the goal, but, never-the-less, we are committed to a certain outcome. We visualize the outcome. We feel our success. We revel in that feeling of impending accomplishment. Our confidence abounds. We glow knowing we make our own lives, that we are our own masters. The universe has no choice but to grant what we have decided. Momma can be proud.

All this from taking a simple action, the action of deciding.

A large problem for people is that we are risk averse. Two terrible words, “what if,” permeate our thoughts. What if I do something wrong? What if I lose money, etc.? To overcome the dreaded “what if’s?” we engage in analysis. Obviously, this can lead to the dreaded “paralysis of analysis.” We often think too long and too hard and, thereby, allow the decision to be made for us, by not deciding. Not taking action is an action. With real estate, often, the deal is gone – taken by another investor who decided to do the deal.

Yet, some of us are natural action-takers. However, if I coach a reluctant wannabe with some specific item then these non-action-takers begin to take action on their own. There is no magic here. Simply do a necessary task; analyze a deal or put together an offer or make a phone call.

If you force yourself to do a real estate investing task, after a while they become easier to do, and then they become automatic. Taking action is like a muscle that you can develop. Taking action is the force of your will over your fear.

Of course it’s scary to start doing something new. That’s why people continually go to REI seminars, hoping the fear will go away; it never does. So we look for the next, new REI technique. But the fear continues.

Fear

The issue of risk is based on fear; fear of the unknown. Every time I have forced myself to do something that I didn’t want to do, afterwards, without exception, I have asked myself, “That wasn’t so hard, what was I so afraid of?” According to President Roosevelt, “The only thing we have to fear, is, fear itself.”

Risk Aversion

If you ask a family member or friend their opinion of a business idea, typically, they will be negative. Why? The answer is that they are not comfortable with doing something other than being a worker bee. Being an entrepreneur is not in their DNA because they are afraid. If they are afraid then how could you be successful?

After all, what if they tried to implement a good business idea, but failed in the execution? It would mean that they have no future outside of being a worker bee. That realization – of potentially having no good financial future, is so offensive that they would rather not try now – so that when a really good idea occurs, they can try then, which, of course, never happens. Their fear of failure is always greater than their angst over the inadequacies of a J.O.B. (Just Over Broke).

Sadly, your angst and indecision is also a death sentence to those poor unfortunates that are behind in paying their property taxes. They do not know what to do to save themselves. The little bit that you force yourself to do gives these people hope and maybe you will figure out something that helps you and them. The tax delinquent is in a much worse place than you. While you are fearful of some loss, they are definitely going to lose everything. All you can do is help, while learning to invest. Offer the lowest deal, something that has no chance of being accepted, something where you know that you cannot lose, and give the tax delinquent the chance to say “No” or “OK.”

A fix

To overcome being risk adverse, do something that you are familiar with. While you may think real estate is the path to wealth, you are weary because you are not familiar with it. Therefore, consider creating a business doing something that you already know.

Do you have a hobby? Turn it into a business. Do you have a certain skill? Turn it into a business. Figure out how to package yourself and your skill so that someone will pay for it. Marketing is the skill that most do not have and need to develop. People can be convinced to buy anything, and to pay top dollar – if you know how.

Overcoming fear

Visualization is a major technique that allows us to imagine anything we wish and to help us believe that we can do whatever it is that we want. I visualize every day. Mostly, I do it through self-talk. I go over conversations that I have and determine if I could have said something differently or better. Perhaps I could have used humor or asked a smart question to make the point I was trying to make. In this manner, I am more prepared the next time a similar situation occurs.

Affirmations

Definition: an assertion, the act of affirming, a positive statement of support or encouragement.

An affirmation is a self-hypnosis technique; it is a statement that is meaningful to you, which you repeat to yourself so that your unconscious mind accepts what you are consciously telling it. It is very powerful.

You are what you believe you are. You do what you believe you can do. You walk across fiery coals because you have visualized that you have already accomplished the result. That you believe you can do something creates the reality in your mind. That illusion of reality then needs to be actualized – so you walk across the fiery coals – without burning your feet. Yet, the fact of your accomplishment is seared into your soul. You will find it very difficult to be afraid of something in the future. After all, what is more frightening than walking into fire?

How many times have you heard it? “Anything that your mind can conceive and believe, you can achieve.” Believe it.

You can start achieving your real estate investing goals with Coach Mitch’s Tax Delinquent Property “Ridiculously Simple System…”™ . If you feel that personal coaching would help to achieve your goals, I am available. Don’t forget, Coach Mitch says, – Just say, “Yes.”™