Gino Barbaro* has a compelling list of reasons real estate investors fail. When I discovered there was an actual list, I was ready to spend time reading through them and tearing them apart. How pleasantly surprised I was to find that it was a simple list. It’s a list that hits home for many real estate investors.
According to Barbaro, the reasons include
Not enough reasons to invest in real estate
Lack of Education
Quitting too soon
Not enough capital
Careless due diligence
These reasons don’t have to apply just to real estate investors. Change #1 to “not enough reasons to be in this business” and the rest are universal.
I am not a real estate investor. I have the honor of providing executive administrative virtual assistance to many real estate investors around the country. These 7 points rang so loudly to me and I know it will hit home for many investors.
I have often said if you don’t have time to plan your work and then work that plan then you need to reconsider your career choice. Don’t make your dreams mere hobbies – spending time only when you feel like it or just a few hours every now and then.
Lori Greiner has said, “entrepreneurs are the only people who will work 80 hours a week to avoid working 40 hours a week”. She’s right on point!
You have a choice. Get out or get in. You are either fully in and committed to your success or you’re out.