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I’m going to be honest with you. This business is hard. A lot harder than most people expect. The reality is most people who get into real estate won’t succeed. Not because it doesn’t work, but because they don’t do the work. They get stuck in emotions, overthinking, and blaming everything else instead of focusing on what actually matters.
What changed everything for me was learning to focus on data instead of drama. I stopped worrying about rejection and started tracking numbers. If I needed 30 no’s to get a yes, then every no meant I was getting closer. The deals are out there. They always have been. The real question is whether you are consistently marketing and making enough offers.
I also had to stop blaming the market, the competition, or the gurus. None of that helps. Every market has opportunity if you are willing to adapt and follow where the demand is going. Success comes down to ownership, consistency, and doing the uncomfortable work most people avoid.
What’s Inside:
—Why most people fail and how to shift from emotions to data
—How consistency and volume lead to predictable deals
—Why taking ownership and embracing discomfort changes everything
Hey guys, how are you doing, Joe here?
Welcome to REI in your car podcast.
[♪ OUTRO MUSIC PLAYING [♪
It's been a little while. Today I'm going to talk about why real estate is hard.
This is an encouraging, exciting topic.
Yeah, if you didn't know already, you're going to figure this out soon enough.
Real estate is hard and it's not as easy as you might think it is or as some of the gurus might tell you it is.
And I say that tongue in cheek because, yeah, I kind of am a guru, I guess.
But I've always tried to be honest and to not sugarcoat anything, not lie.
It is hard. You need to do the work. And in fact, many times when I do a sales presentation,
I actually say these words. Most of you listening to this right now will not make any money in real estate.
Most people fail and it's harder than you think.
So don't take anything I say as a guarantee or a promise that you're going to make money.
If you want to just sit in your parents' basement and you're underwear while you're playing video games
and push the easy button and money falls from the sky, you're smoking pot.
You're this, that's never going to happen to you, all right?
Any kind of business make money from home opportunity, it takes work.
And the people that you see succeed are the ones that have been willing to put in the work.
Now it does work and that's what I love this business is why I can I can sell my programs.
I can sell training. I can sell software.
I can sell done for you marketing services. I can sell leads and money and all the stuff that we have.
I feel with integrity because I know that this business works.
I know you can make a lot of money in it, but it takes effort.
It takes consistency. It takes persistence. When you want to quit, you can't.
You got to keep on going. So I'm going to talk about in this podcast.
Why real estate investing is hard. Data, not drama.
Data beats drama every single time. Stop looking at your motions.
If you are worried because you feel like all it's not working, look at the data.
How many offers have you actually made? Maybe you've only made 10 offers.
Maybe the first 10 sellers you talked to said no.
Maybe the first 10 sellers you talked to got mad at you and yelled at you.
Well, look at the numbers. Ignore the drama because the drama is going to get you discouraged.
But if you look at the numbers and you know, all right.
Well, I got to get 30 nose to get one. Yes. Great. Congratulations.
You just got your first 10 nose, your 10 nose closer to your first. Yes.
Right. And this is something you've got to believe in your mind.
And this is, I think, one of the reasons why I've had success in this business is
I believe that there are deals out there.
One of my first coaches say there is a million dollar deal every day.
So if you miss one, that's all right. Shake the dust off.
Pull up your big boy pants. There's going to be another million dollar deal tomorrow.
So you've got to believe that there are deals out there.
One time I remember I was complaining that the market's not working.
And then sometimes negativity attracts negativity.
I had a client in Denver call me and say, man, there's no sellers here.
There's tons of buyers, no sellers.
The next day, another client from Denver called and said, there are tons of buyers here, no sellers.
And I'm like, wait a minute. Could it be it's actually perspective?
And then I looked at I said, oh, well, let's look.
And I actually went into at the time it was list source.
I said, wait a second. Like, is there anybody doing deals here at all?
And I went into list source and I looked at the investor transactions in the last six months.
And you know what? There were hundreds and hundreds and hundreds of them.
Somebody's doing these deals. Who is that? And how are they doing it?
So then I put one client that said there is no sellers and the other one that said
he has tons of sellers and one that said, you know, no buyers, tons of buyers.
I put them together and I said, you guys need to talk.
The deals are happening out there right now.
And investors are doing deals just the other day.
I was looking at some markets in a certain state for flipping land.
I just went to Redfin and I said, all right, show me all the sold in the last three months.
And boom, there it was. You could see the clusters.
And I find the markets where there is activity.
And in every state, there are places where investors right now are buying houses.
They're buying land. Well, guess who's finding those deals?
Somebody is their wholesalers.
They are the guys who are more concerned about the data and not the drama.
They're consistently out there marketing.
They're consistently out there making offers and they're finding these deals.
I think the other important thing to remember is you can't stop blaming the market, right?
Every market cycle has winners.
When the market is going south, I remember we've been through, personally, me, I've been
through two or three recessions.
And one of the important things I learned early on is that wealth doesn't disappear.
Money doesn't disappear.
It transfers.
It goes from somewhere to somewhere else.
And so the key to being successful in business is knowing where the cheese is going, knowing
okay, it's not here.
It's moving.
It's over going over there now.
So you find new opportunity.
There's always going to be opportunity.
And in real estate, maybe it goes from being a seller's market to being a buyer's market.
If you're a wholesaler, maybe it goes from wholesaling deals to new home builders to wholesaling
deals to retail buyers, recreational buyers, people are doing subdivides or whatever.
Maybe in houses, it goes from wholesaling fix and flips in the upper higher, more expensive
properties to wholesaling little landlord rental properties, you know, that cash flow.
You're wholesaling fix and flips or you're wholesaling a landlord properties.
You need to find where the market is going.
And I remember when the recession in 2006, 2007, 2008, 2009 or whatever, the people that
were still wholesaling a lot of deals and making a lot of money were the ones that got creative
and saw where the cheese was moving.
And so they realized, oh, the buyers that are buying properties right now and there are
some that are buying, they went to go see where they were.
One of their biggest problems is they don't have financing.
There's, there's dorses of funding has dried up.
So they would go and find the local regional banks and credit unions and say, hey, do you
still lend on rehab fix and flip properties or rental properties?
And they would find the ones that said, yes.
And even back then, when the market was completely collapsed, there were still local banks
that wanted to lend money to qualified people.
So what these wholesalers would go find the banks that were lending money and they said,
okay, so if you would lend on this deal, what are your requirements and they would find
out, okay, well, the borrower has to have this credit score, they have to have this amount
of money down, they need to have this amount of money in reserves or in the bank.
So they'd figure these things out and then they would market these properties to all of
the investors out there, the local real estate clubs, by direct mail, phone call, whatever
Facebook.
And then they would say, hey, here's a deal that show the numbers and they say financing
available to qualified buyers.
And so they would bring these deals as a package.
So today may be where it's like, hey, I can just wholesale deals just put it out there
and people buy them.
They have their own financing.
If things get rough again, you need to think about putting these deals together as a package
and then offering them to investors, okay?
So stop blaming the market.
Every market cycle has winners, wealth doesn't disappear transfers.
So you need to look at the market, what's going on now?
Where's the need?
Where's the demand?
How can I fill that demand?
And that's really important.
Understand.
The other thing you need to stop blaming is you've got to stop blaming the competition.
I love competition.
Competition is proof to me that demand exists.
It's telling me, yeah, you know what?
There are people that want this, that are doing this, that are making money right now.
So why can't I be one of them?
So I love competition because it's telling me, hey, this is a good market, it's a good
time to be in the market.
I'm going to go see what these guys are doing and model, not copy.
I'm going to model what they're doing in my own market and my own niche.
Stop blaming the gurus also, they're the easiest guys to blame.
I thank God for gurus because if it wasn't for them that taught me what I did.
If it wasn't for the Carlton Sheets who taught Robert Allen, maybe it was Robert Allen who
taught Carlton Sheets, one of those two guys, but before then there were somebody that
taught them.
The Carlton Sheets, the Robert Allen's, the Ron the Grans and Lou Brown's and there's
a bunch of them and I'm missing a bunch, but like those guys that were out there teaching
their stuff and selling their things and making a ton of money, making a fool out of themselves,
some of them, you know, but thank God they did that because the guy that I learned real
estate from learned it from that guy who learned it from that guy and they were able to
sell their knowledge to eventually meet.
Now there's a lot of shysters and bad gurus out there, but for heaven's sake, stop
blaming them for your problems.
Not their fault.
Education is a tool, not the problem and thank God for education.
I thank God that there are people out there selling their knowledge because otherwise
how would we learn it?
Now you could like do trial and error, but I like shortcuts.
I like to pay somebody a lot of money to learn their mistakes so I don't have to make
the same mistakes.
Does that make sense?
So if you think education is expensive, try ignorance, try making mistakes, try losing
a deal, try only making $3,000 on a deal when you could have made $30,000 on a deal.
So stop blaming other things.
The market, the competition, the gurus, take responsibility.
Ownership is the starting point of success, okay?
Write that one down.
The other thing too is entrepreneurship is not for everyone.
You know, business is hard.
You're going to face discouragement often.
If you want stability, if you want safety, go get a job, go get a nine to five real estate
rewards the risk takers and I get it.
Entrepreneurship is not for everybody.
It's hard.
One of the hardest things to do in professional life.
I think the other hardest thing to do is to be a husband and a dad.
It's awesome.
It's rewarding and I never regret a single day of it, but like it's hard and not everybody
can do it.
The rewards are great though.
This is why entrepreneurship is so it's either like you make a ton of money or you don't
make any money at all.
It's very risky.
That's why again, education is so important.
So if you want stability, that's great.
Entrepreneurship is not for everybody.
That's why most people who buy any education program like mine or anybody's, most people
fails because they're just realizing, ah, you know what, entrepreneurship is not for me.
I can't do this.
They want the comfortable.
They do not want to step out of their comfort zone.
So success requires discomfort.
Success requires you step out of your comfort zone.
That's where the growth happens.
I'm looking outside.
It's in the winter.
These trees look like they're dead, right?
They look dead.
They look like there's nothing going on, but it's during the winter time that they're
actually growing their roots deeper into the ground.
So if you want to succeed, you need to get out of your comfort zone.
You need to push yourself every day.
Talk to one more seller, make one more offer, make one more cold call, whatever it is for
you, right?
Go look at one more house.
This applies to whatever you're doing.
It's just a matter of, suck it up, butter, cut.
Let's go.
Let's get uncomfortable.
Real estate is hard.
And you got to do what others don't want to do if you want to succeed.
I knew when I was in my corporate job, it was a good job.
I had no complaints.
I got paid very well.
I was very grateful for my employers, but I was frustrated because I knew I was one paycheck
away from bankruptcy.
So if one of them decided to let me go or fire me, I worked for three different companies
after college.
If they wanted to fire me tomorrow, I'd be gone, right?
Maybe I'd get a couple of weeks' severance package.
I knew I could find another job if I was willing to travel anywhere, you know?
But yeah, it sucked.
I didn't not like the freedom that no matter how hard I worked, I got paid the same every
single two weeks, right?
And I had to ask for time off, now I'm not complaining.
That's just the way it is sometimes.
I get it and I had to pay my dues.
But I thought, now wouldn't it be nice if I could just work wherever I want, whenever
I want?
I was so tired of counting how many PTO days I had left or how many vacation days.
And planning my vacations for the whole year, I felt at the time, I remember the thinking
is so clearly, it's more risky to stay in my job and to keep this job.
There's more risk in doing that than there is in starting my entrepreneurship journey and
start building businesses.
And so I said, all right, I'm going to learn this stuff.
And my goal was to start doing real estate, making money part time on the side while I kept
my full-time job.
And my goal was to get at least six months in reserves before I quit my job.
But that was just too hard to do because I couldn't put enough time to the real estate
business.
But I put in the work I refused to quit.
I stopped blaming other people, other things, the gurus, the market and whatever.
And I said, I'm going to figure this out and I realized the cheese was moving.
And so cash deals weren't working as easily back then.
So I started doing creative deals like lease options and stuff like that.
And I found a niche that work and I dug deep into it and I focused on that.
I stopped trying to do multiple things.
I worked hard and I stopped complaining and I put in the work and I did a lot of
marketing.
I did a lot of offers.
And pretty soon three months in a row, I was making more real, more money doing real
estate than it was in my full-time job.
So that's when I quit my job.
I didn't have the reserves that I'd hope to have, but I knew if I could do this amount
of money part-time, how much more money could I make doing it full-time?
So I started really, really working hard made a ton of mistakes, right?
I've learned a lot of incredible valuable lessons over the years from the mistake.
I just want to encourage you and I'll do another podcast talking about those 10 specific
things that you need to do.
But I want to encourage you to stay focused, stay consistent, stay committed.
If you really do want to work for yourself and call your own shots and you want to get
on this arrangement in your journey, be ready to work hard, be ready to work your butt
off.
And you can't be afraid of failure.
You got to embrace failure, you got to embrace massive imperfect action.
And if you put in the work, you will succeed.
All right.
So I hope that encourages you.
Take care.
Bye-bye.

Real Estate Investing Mastery Podcast

Real Estate Investing Mastery Podcast

Real Estate Investing Mastery Podcast
