Why Real Estate Investing Is A Process

Why Real Estate Investing Is A Process



One thing that many people do not realize is​ that learning to​ invest in​ real estate is​ a​ process. They don't realize that because they often only see the​ end result – a​ prosperous person with a​ Midas Touch, or​ a​ person who always finds themselves in​ an​ avalanche of​ great deals. They think the​ person is​ simply lucky.

Someone who has truly begun their own real estate journey knows, however, that these successful investors are utilizing a​ skill they have developed over time. Perhaps they have developed a​ knack for​ being in​ the​ right place at​ the​ right time, and​ in​ a​ sense that is​ indeed luck. However, that seeming luck developed over years of​ learning. These investors learned where to​ go so that deals could find them.

It's like considering a​ hunter lucky because he tends to​ find deer in​ the​ woods, while you never see any in​ the​ city. the​ hunter is​ lucky because he knows he has to​ go to​ the​ forest if​ he wants to​ find deer. It's mindbogglingly simple when you really think about it.

Ken McElroy, who wrote “The ABCs of​ Investing,” one of​ the​ Rich Dad book series, said that, if​ you begin to​ do the​ things that investors do, you will start to​ see patterns. You can use those patterns to​ determine your course of​ action. It's just another way of​ saying, “Fortune favors the​ prepared mind.”

People who just don't get that concept, or​ who refuse to​ accept it​ because it​ is​ attached to​ the​ concept of​ work, tend to​ be magical thinkers and​ get-rich-quick schemers. They think there is​ something mystical at​ work, when the​ only thing really at​ work is​ the​ investor. McElroy says that there are some people who just don't really have the​ desire to​ do the​ work. Those tend to​ be the​ magical thinkers, and​ they are that way because they want to​ be.

However, if​ you do have the​ desire to​ do the​ work, and​ all you need is​ to​ be told what work to​ do, then there is​ hope. You can learn the​ technical skills. Those are the​ people, McElroy says, for​ whom he wrote “The ABCs of​ Investing.”

Elsewhere in​ the​ Rich Dad series, Robert Kiyosaki, who started the​ series, said that the​ people who do lose big in​ real estate investment are typically the​ ones who jump in​ without first taking the​ time to​ learn about investing. They simply don't know how to​ do it. That is​ what people don't understand about getting rich, and​ more specifically about real estate investing, that it​ is​ a​ process. You are no more going to​ swagger into the​ arena, plunk down your money and​ make a​ killing any more than you would swagger into a​ hangar, jump into an​ airplane and​ start doing loop-de-loops. That approach is​ likely to​ get you killed. That approach in​ real estate investing is​ likely to​ cost you a​ lot of​ money.

But if​ you take it​ slowly and​ allow yourself to​ make plenty of​ small mistakes that won't make you crash, then you will begin to​ build a​ base of​ knowledge. You will begin to​ see how it​ all fits together and​ you will start to​ make money.

It is​ a​ process.




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