Persistence PAYS In Real Estate Investing

Be PersistentLet’s talk about persistence, you know, the ability to keep going when things keep holding you back? Sometimes both new investors and old need a check-up from the neck-up. This business can be tough at times !

I don’t care what the guru’s tell you, this is not an easy business, though it’s simple sometimes. Once you do your first deal, it’s like the gates open and knowledge flows. The confidence from your first deal is what gets you going… but you need that confidence first.

Here’s a story I want to share with you about a miner:

Back in the gold rush days, there was a guy who wanted to be a gold miner, but didn’t want to do it alone. He wanted to hire a company and do it BIG TIME. He went out and got a loan, borrowed all kinds of money, put his life savings in it, hired some guys to go out there with picks and shovels, did tons of research to figure out where the gold is… and things got tough.

Days went on, and they dug and dug and dug and dug. They didn’t find any gold and things were looking gloomy and glum. Then, the guy got out. He backed out because he didn’t have any more money to pay his people and he couldn’t take it anymore. He finally said, “there’s no gold here!” and sold out. (I bet some of you are thinking the same thing right now in your real estate business)

He sold his business to in order to pay off his loans. Now, ANOTHER guy comes in who had a little bit more education and knowledge about the business. He put HIS guys to work, and literally, 3 feet away from where the other team stopped digging, they found one of the largest gold veins in California. This guy became mega-wealthy. Go ahead and look this up online and in the history books. It’s true!

You might be “this close” to your first deal. It takes only one deal to change your life! If you could do one deal tomorrow that could make you $20,000 to $30,000… or even $5,000… how much would it change YOUR life? It only takes one deal to make a difference. Now, you couldn’t retire after one deal, but it would allow you to pay off some of your bills, maybe take a nice vacation with your family. But, you have to be persistent!

I don’t know how many of you have been in jail swinging sledgehammers breaking those big boulders. (I wouldn’t want to try it) But, from what I have read, to break them, you have to hit them hundreds of times, without seeing as much as a tiny crack first. Then, all of a sudden, with one blow, it would crumble into many little pieces because it had been weakened from the inside out.

That is what this business is like sometimes. You have to take one more smack, one more blow. I know that some of you feel like you have been knocked around out there. Be persistent. Stick to your guns. This business works! If you want to work for yourself and you don’t have a bunch of money or good credit to go around, this is the business for you! Think about if you want to open a McDonald’s or Subway, it could cost you a quarter to half a million dollars, and then it could take years to break even.

To get into a business on your own, this is an easy business to get into. You don’t pay for it out of your pocket, but you do pay with stress and nerves at times. I know where you are at, I’ve been there. Rome wasn’t built in a day. But once you “get” this business, you’re able to do it over and over again. But… you have to have “stickability”!

In this business, you won’t get any worse with practice. If you’ve been in the business for a few months and have made a few offers, started your education, put out a few signs, or run some ads, you are not getting dumber or less smart in this business. Every time you fail, you take a step forward. (of course the shortest path to success is getting help and training)

I’ve known guys that have done deals for hundreds of thousands of dollars. Once you have the knowledge, the only difference is the amount of zeros on the paycheck. You do the same amount of work on a million dollar house as a $100,000 house. If you spend some money on training or bought a program or two, and put a lot of hours in it, and nothing has panned out, the only way it can go to waste is if you quit. Like I said before, it’s “stickability” and having the right attitude.

Let’s look at people who make big money. Real estate investors make big money. Athletes make big money. Actors make big money. Musicians make big money. Most of these actors and rock stars worked for $200 a week waitressing, cleaning, doing anything they had to do to put food on the table. Most of these actors and rock stars are “old” and that’s because they did gigs for $100 a night for ten years, before they became famous and successful. Most of them put years in first, while they whacked away at that stone, before they got that big break.

It’s the same thing in this business. Once you get that first deal, they are going to fall like bowling pins. That’s your big break… but don’t give up. Don’t be afraid to spend a little money to get some training. You have to be trained and have some support. You have to have someone you can go to for help. Go to your REIA, meet some people, and network. I do deals now that 4 or 5 years ago would fall apart, because when there was a problem, I didn’t know how to solve it. I learned that by “doing”!

I want to share a story with you:

In 1831, a man lost his job. In 1832, he was defeated in his run for Illinois State Legislator. He opened a business after that. A year later, in 1833, he failed and lost his business. In 1835, his sweetheart died. In 1836 he had a nervous breakdown. In 1838 he was defeated in another run for Illinois House Speaker. In 1843 he was defeated for the U.S. Congress. In 1846 he was elected to Congress, finally. In 1848 he lost. He was out. In 1849 he tried to become a Land Officer, he lost. In 1854 he tried to run for Senate and lost. In 1856 someone wanted him to be his Vice President, and he lost. In 1858, he again lost. Then, in 1860 Abraham Lincoln became President! This is Abraham Lincoln we are talking about. How many times did he whack away at that boulder to get where he wanted to go?

I too had to adapt recently. It’s all about education, learning, being persistent, and just keep going!

Did you know that Thomas Edison had about 1,000 ways that he failed while trying to get the light bulb to work? He always said he had 1,000 ways to make a light bulb. He only needed 1 way to make it work. But he was persistent. What if he didn’t keep on going?

So, be persistent! This business does work, and you can do it! Oh… and you can begin that training I talked about earlier by going to .


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