Today is national turtle day, which made me think (other than of my appreciation for turtles and all things nature) of how the life of a turtle with their slow methodical ways relates well to real estate. There are so many “get rich quick” schemes out there, and a lot of actors in real estate that make it look as if there is quick money in the game of real estate investing.
Can you make money quicker than some other methods in real estate? Of course, you can, however, that is not possible until you have education, experience, a good business model built with excellent systems! Flipping houses looks fast on TV, however in real life depending on what market you are in it typically takes 3-6 months to take a project from A-Z.
Could you flip 30-50 homes/year? Yes it can be done and I have associates that do this in CERTAIN markets in Canada and the USA – that takes a lot of help (staff) capital and credit + a lot of experience which results in a great system that works for your local marketplace – did that happen overnight? NO! It happened over years creating and refining the systems so that those real estate entrepreneurs could scale their business to that level.
When you get into learning any game in life, real estate, business, hockey, monopoly you will lose a few games learning the rules – I think we can all relate to that! Real Estate Investing is no different, you will have to learn the rules, make some mistakes, and get better as you go. The best way to collapse that learning curve and avoid mistakes is to work with someone that has been there before and lost a bunch of games to get really good at it – real estate coaches in your area/strategy that you are interested in will really help you get results faster.
Real Estate like the turtle, is not going to make you wealthy fast – but it will get you there using consistent methodical strategies. Be like the turtle not like the hare of the children’s fable running around without the right tools/mindset to be successful.
To your success,
-Respect The Hustle