Real estate investing means committing to a long term strategy. It’s not a get-rich-right-now scheme that’s portrayed so many times on cable T.V. You’ve seen those shows haven’t you? If you’ve ever channel-surfed, and who hasn’t, there’s no shortage of “Flip This” or “Flip That” portraying “real” investors who buy a property well below market, fix it up and make $30,000 in 30 days. It looks easy, doesn’t it? Of course it does, it’s a simple, buy-fix-sell strategy. What could be easier?
What you don’t see are the bombs. Do you think a producer is going to air a show about real estate investing only to show how these “investors” lost their tail on multiple properties? Of course not. There’s not much drama in that.
If you’ve done any research at all on the internet about real estate investing you soon found yourself reading ads that magically appeared telling you about a one-day real estate investment seminar, free of course, that will show you how the presenter made $100,000 in 90 days and you can too! No money down! No credit needed! Anybody can do this! It might be easier to give in to the hype. After all, they can’t just be lying about their success, can they? And it’s free, right?
Look, I don’t want to burst anyone’s bubble or spoil someone’s parade, so to speak, but let’s get real here. Sure, those “flipping” shows are fun to watch and there’s no harm attending a seminar that’s “free” but making $100,000 in 90 days is smokescreen. I’m not saying it’s impossible but do you think it’s really true? A little skeptical? If you are, that’s a good thing. That means you’re taking this seriously and treating it as a business and not a quick trip to Las Vegas. Creating wealth through real estate is a process, not an event.
Amen. It is NOT easy, fast or instant riches. I’m looking forward to building a multiple door portfolio to free up my time, the commodity you cannot purchase or acquire more of. Thanks for putting the article in here. I think most in our group would know that but it never hurts to remind…