People sometimes ask me , “ Come on , Reggie , tell me ”. “ What ’ s the secret to being successful in real estate ”? There is no one individual ‘ secret ’ that will make you an instant millionaire in real estate . It ’ s more of a matter of doing a whole lot of little things correctly that empowers us to create a tremendous wealth . Doing smart things systematically toward your goal every day will breathe life into the 3 Cornerstones Of Success . There is nothing on this earth that can stop you if you simply follow the 3 Cornerstones Of Success . Here are a few other ideas that can help you to achieve your own level of success .
4 . Don ’ t Take Your Financial Advice From Broke People
When I first got involved in real estate , I let everyone know that I was launching into a new career . I told them that I was studying courses on how to perform creative real estate deals that would make me rich . I told them I was learning about no money down deals , how to get owner financing , how to rehab to increase profits , and so much more . I was so excited about my new real estate career that I had real trouble shutting up about it . As a matter of fact , I think that I got a little cocky . I ’ d tell anyone who would listen to me about the wealth that I was going to
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build in real estate .
I finally realized that I was sharing my excitement with the wrong people . I was sharing my dreams with people who had no respect for them . They would find ways to tell me that my dreams would never work . “ There ’ s
no such thing as a winwin deal ”. “ When someone wins , someone else has to lose .” They also said things like , “ You can ’ t do no money down deals because there ’ s got to be some money in the deal someplace ”. They never stopped to think that the money doesn ’ t have to come from you . It can come from the seller , the lender , the Realtor ®, from private sources , or a great number of other places . It doesn ’ t have to come from your pocket .
This is when I realized just how important it is to share your ideas with the right people , and not the wrong people . Share your ideas with other investors or students who are of like mind either doing deals and making money or learning and growing in creative real estate education . If you share your dreams with people who are not educated or not experienced in creative real estate techniques , you leave yourself wide open for opinions . When you get opinions from people that you respect , you have a tendency to believe them . This can be especially hazardous for new investors .
Always ask yourself the question , “ By what authority does this person give me this advice ? Has he / she been trained in this field ? Has he / she worked in this field and made money ?” If the answers are no , don ’ t listen to him / her . No matter how much you love or respect the person , you have to protect your financial future from wellmeaning people who are not qualified to give you financial guidance .
If you have a new born baby , you wouldn ’ t dare even think about exposing that baby to the harsh elements that could make your baby sick . You wouldn ’ t leave your new born baby outside in the rain or the snow . You wouldn ’ t leave your baby in the heat of the sun , or with unsavory characters as baby sitters . Treat your new real estate business just as you would your new born baby . Expose your baby to the people who can help it grow big and strong , but keep it away from those who will do it harm . And the difficult part is that for the most part , our uninformed friends don ’ t mean any harm . But if you let their unfounded opinions influence you , it can be fatal to your business .
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