The “It” Factor

I’m going to say something that I don’t think anyone has ever mentioned to newbie’s or people that think they would like to make money in real estate investing…

Before you get all pumped up, (and it’s not difficult to get there quickly when you hear of all the money being made), there’s one little “factor” that all the gurus forget to mention….

Passion! (As defined, emotion, feeling very strongly about a subject or person, usually referring to feelings of intense desire and attraction, (be very passionate about something.) This is the missing ingredient that many have about what they’re doing and the REASON they fail or have very limited success.

No one mentions that! If you’re going to be successful, in anything you do in life… even if it’s just for the money, you have to love it. You have to be “into it” all the way.

“How do I know if I’ll have a passion for it…. I’ve never done it before?” OK, good question. Do you have any previous experiences or passion for real estate and dealing with people? Are there any characteristics that are similar to what you love now?

Real estate investing is HARD work and without the passion and drive to “get to the prize,” you’ll go as far riding that bike, as a guy (or girl) on a “stationary bike.” Lots of motion without getting anywhere!

It’s like saying that you want to be a “doctor,” but hate working all the time. Do you know how many hours a day a doctor works??? Or, “I want to be a NFL footbal player, but I don’t want to have to work out EVERYDAY!

The first question you should ask yourself before you spend THOUSANDS of dollars and hours of study, learning how to be a successful real estate investor, is, “do I have the passion for the business?” “Do I have a “passion” for doing all the things related to the business, in order to be successful?” Is it a “passion fit” for me?

If the answer seems to be a definite YES, then real estate investing IS for you!

Otherwise, keep taking those “singing lessons, dance classes, accounting courses or whatever else it is you have a “passion” for!

Happy Investing,

Steve/REIM Letter Series