If real estate investing is so lucrative and so easy why doesn’t everyone do it? And why do so many quit before they’ve hit success? How long does it take to be successful at real estate investing? Why isn’t everyone successful at it?
If you listen to most of the hype, it sounds like in a month or two you’ll be raking in the big bucks. I bought that Kool-aid. I thought for sure that once I bought my $197 home study course, I’d be rich quick. The truth is that if you just go around looking at MLS and hustling for deals haphazardly wherever you can find them, you may literally be working at this for years and still have only done a very small number of deals.
If you approach real estate investing like a business and utilize a recurring marketing process, you’ll probably start doing deals (for me, the definition of a deal is at least $10k in profits) within a few months. If you re-invest some of your profits back into expanding your marketing, then within six months to a year, you’ll be closing deals every month.
CAUTION: Here is why most investors that start in the business never become successful…
They don’t want to put in the time and effort up front. They want immediate gratification. They’ll implement one marketing technique and if it doesn’t produce a deal, they’ll quit. They’ll say it is not working.
They’ll talk to 8-10 lead calls and not one is a deal and they’ll say that all of the callers aren’t motivated and want full market value, so they quit.
Marketing works when it is repetitive. Your marketing needs to be in the field for a while before it really grabs hold – before the really motivated sellers start calling. You see, their seeing your marketing, but they’re not ready. So they wait. And then they see your marketing again…and then again…and then finally they are ready and they’ll have a great deal – if you’re still in the game. If you’ve quit, you’ll miss out.
As for the lead calls…sure, most of them are garbage. They are tire kickers; they want full price; they owe too much…whatever is the issue…they are not a good deal. So what? Just pass on those until you find the great deal. Initially your ratio may be 40 -50 calls for one deal.
As your marketing matures in the field and you get better with leads, your ratio will improve to about 20-25 leads to one deal. After that, the number of deals you close a month will be a factor of how much marketing you do.
Unfortunately, only the few investors with passion and a vision for what they want will have the fortitude to stick it out through the first six months. For those that do, their life will change. They’ll never need to work a “job” again. They’ll never be a slave to a clock. They’ll never ask permission for time off; and they’ll have the funds to live life on their terms.
For everyone else, it’s back to the same ole – same ole until they’re ready to commit to change.
Where are you? What have you decided? Do you have the intestinal fortitude to push through and become successful or will you quit at the first disappointment?
If you have that drive and passion, then I’d love to mentor and be like your partner helping you succeed.
>>This Video Will Tell You More
Success is there for the taking – you just have to want it bad enough.
Expect abundance,
Lou Castillo
