I’m tired of all the real estate investing gurus who come to town and tell eager-to-be real estate investors that success is easy and that it only takes five hours of work (or less) each week. Oh, and of course, that you’ll need to buy the guru’s “system” that normally costs $4,995, but for tonight and tonight only, it’s only $1,495.
It’s amazing the number of sheep who line up at the end of the presentation and gladly hand over their near maxed-out, 35%-interest-rate credit card.
Here’s an example: Last week, Kim and I attended a two-hour “seminar” in Atlanta. Actually, it was a two-hour sales pitch. The presenter was a big-time national investor/teacher/guru. Though he said otherwise, he was there for one reason and one reason only – to sell his hands-off, work-only-five-hours-a-week, autopilot system.
I don’t begrudge these gurus for trying to sell their “systems.” Fact is, many of the courses out there are full of solid, real-world information. At one time or another, we have owned many of them.
The part I don’t like is when unsuspecting people are told that real estate investing is “easy,” and that it’s “hands off”, and that it takes “very little time.” These are flat-out lies.
The truth is that real estate investing is hard, it’s hands on, and it takes a lot of time and effort.
On the other hand, if you are willing to work, sacrifice and stay focused on your goals, investing in real estate is the bestinvestment I know of. Just think, if you owned ten paid-for rental homes and each averaged $1,000 per month in rental income, would you be able to squeeze by on $120,000 a year?
One of the things I’ve learned is that to be successful, you need the BIG MO – or Big Momentum. Newton’s First Law of Motion is: Every object in motion tends to stay in motion. Going the other way, an object not in motion has a tendency to just sit, watch TV and get fat. The Latin phrase for this is Couchium Potatoum.
Think of it this way: If you were on a cruise ship heading for England, and the mighty ship’s engines ran 24 hours a day, how long would the voyage take? What if the engines were only allowed to run five hours per week; then how long would the journey take? Heck, would you reach your destination or would the ocean’s currents keep you from ever reaching your port-of-call?
I’m not saying that you must go full-time to be successful. We know a lot of successful, part-time real estate investors. I am saying that, to be successful, you need to be prepared to roll up your sleeves and build some Big Mo!
Do you seek real-world real estate investing information? Go to BillandKimCook.com. It’s packed with free creative deal structuring techniques and strategies. Bill and Kim Cook have been investing in real estate since 1995. Their portfolio consists of single-family rentals, a small mobile home park, plus notes and options. If you have questions, give Bill a call at 770-815-8727.
