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Hold Your Head Up

I remember starting as an investor. Filled with dozens of ideas of how to turn a profit in real estate, I wasn’t sure what to try first. I approached family and friends for advice and help. Most of them told me that what I was trying to do couldn’t be done. “Charles, the good days for investing in real estate are long gone. Just resign yourself to your job.” I can still remember the people who insisted on such negative ideas.

One of my mentors uses the analogy that if you are trying to earn $100,000 per year, why would you seek advice about money from anyone making less? That makes a lot of sense. I recently heard a motivational speaker at a rally. He told the audience that while on his honeymoon in Jamaica, he and his new bride walked to the beach and watched a man fish for lobster. The man would throw out a big net and wait. After about a half hour he pulled the net in and had two lobsters. He placed them in a circular pan with no more than a two inch lip around the edge to hold the crawly critters in. The speaker asked the fisherman why the lobsters simply didn’t crawl over the small barrier to freedom.

The man answered that as long as there were at least two lobsters in the pan they wouldn’t allow each other to escape. The point the speaker was making was that people do the same thing to each other. Are you letting some small thinker dictate how much success you can have by listening to his negative comments? I think back to the people who told me that there was no way left to turn a profit in real estate. Some of the very same people today ask me if I can help them invest some of their money. Usually I’m more than glad to help.

Simple Not Easy
The techniques used everyday in the free world to profit in real estate and other business endeavors are not new. As I’ve said many times, they usually boil down to the simple concept of buy low, sell high. That is a simple concept. It’s the implementation of that concept that can sometimes get sticky. While on a radio talk show last year promoting The Streetsmart Homebuyer, I had taken the time to explain a cash generating strategy — a method any determined person could use to raise money. The technique involved the “assignment of contract” method. When I’d finished, the interviewer said something like, “Boy Charles, that sounds complicated.”

With a playful, yet earnest tone I answered, “What else are you going to be doing, watching Seinfeld reruns? After all, this is your life. Accomplishing worthwhile things does take some time, perseverance and commitment.”

I went on to say that the alternatives are pretty clear cut. You can continue to pay rent and die never knowing that exhilarating feeling that comes with achieving a major goal. About this time I realized that I was getting a little preachy. I backed off, but to my surprise the interviewer agreed with me.
It takes commitment and action to achieve great things. I think we all realize that. Maintaining the attitude to say committed can sometimes present a challenge. Some of the things I do to keep my goals in focus are:

1. Associate with like minded people. Once I started investing, a lot of my old friends seemed to disappear. You can’t afford to have people around that aren’t sympathetic to what you are doing.

2. Read, read, read. I can’t emphasize enough the importance of staying informed. Read all of the real estate material you can get your hands on. Of course I’d recommend you start with The Streetsmart Homebuyer, but then expand your knowledge with other books, CDs, and by attending investment seminars. I have invested more than twenty thousand dollars in my education since I started. Not one penny has been wasted.

3. Join a real estate investors association or club. This is about the best place you can go to network with people doing similar things as you. The importance of networking is powerful.

4. Listen to educational and motivational speakers on CD or tape. You can literally receive a college education while driving by listening to educational, inspirational and motivational tapes. Some of my favorites are Earl Nightingale, Brian Tracy, Tony Robbins, Jack Canfield, and Jim Rohn. You can borrow many of these from your public library.

Maintaining a healthy attitude doesn’t have to be difficult. Define your goals and do something every day, no matter how small, to reach them. Before long you’ll find yourself with the feeling of confidence that can only come from achieving great things.

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