Real estate investing has become a popular avenue for building wealth, but making the transition from a traditional job to a successful real estate investor can be challenging. Here are the three concepts I needed to learn to complete my transition and start thriving in the world of real estate investing.
1. You’re Never Going to Build Wealth Trading Time for Money
Even if it’s your dream job, trading time for money has its limitations. Becoming a professional basketball player had been my lifelong dream, but upon reaching that milestone, I realized it was just another job. I understood that it wouldn’t provide the financial security and prosperity I envisioned for myself and my future. As much as I loved it, I had to walk away to reach my ultimate goal of building lasting wealth through real estate investing.
2. Taking Control of Your Life Takes Time and Intention
Transitioning into real estate investing is not an overnight process. Deciding I wanted to be in real estate wasn’t enough; I had to commit to becoming a real estate investor even if it meant making no money initially. I had to ask myself tough questions: Was I willing to work for free? Was I willing to take learning lessons as pay? The value was in the experience that I stood to gain, and that experience would be priceless in my journey to building wealth. Real estate investing requires patience, persistence, and a willingness to learn from every opportunity.
3. Are You Willing to Buy Stock in Your Company?
The only thing we often hate investing more than time is money. If I wanted to be a successful business owner, I needed to be my first investor. Many people want to start their own business without spending any money, but this approach rarely leads to success. I was unsuccessful in real estate for the first two years until I started investing in crucial aspects like marketing, branding, online presence, and mentorship. These investments walked me into a seven-figure business with just under a six-figure investment. Understanding the importance of investing in your own business is essential for long-term success in real estate investing.
Grasping these concepts is not easy on your own. After coaching over 500 people, I’ve spent dozens of hours on these concepts alone. For many of you, these three concepts are the biggest obstacles on your way to starting and scaling your real estate business. Inside all of our available coaching programs, we spend significant time ensuring our clients understand these concepts and, more importantly, implement them into their business and core values as early on as possible in their real estate investing careers.
If you have goals of transitioning from your 9-5 into real estate investing, click the button below to apply for our coaching programs. If qualified, you will have the chance to speak directly with me about how to start and scale your real estate business.