All too often real estate investing is painted as sunshine and rainbows. However, this is not the case. When investing in real estate, you eat a lot of punches. You’ll experience a lot of objections and hurdles. If you can learn to duck as many of those punches as possible, and learn to eat the ones you can’t, you’ll be better off.
Let’s dive into this a explain a little more about what we’re talking about.
In order to buy one property, you have to make offers on let’s say, 10 properties. In order to make offers on those 10 properties, you may have to analyze 50+ properties. As you can tell, this is a lot of work. But what nobody ever says is how much rejection, objection, and hurdles you have to go through along the way to that one property.
You have to look at dozens of properties, and find a handful that fit your criteria. Then you have to make offers on those properties. Lots of your offers will be declined or countered. You have to get used to this rejection, as it will happen a lot.
I have been looking for a particular property type in my local market for over two years now. I’ve analyzed hundreds of deals, filtered those down to the properties that make sense to me, and put in good offers and still have not had success in this particular scenario. I feel like I’m in the ring with Mike Tyson and I have pillows strapped to my hands.
As a real estate investor, you’ll become quite familiar to hurdles that would seem insurmountable to some people. From financing, to operations and everything in between.
If you can figure out a way to push through these barriers, you’ll be much more successful.
Let’s look at ways you can keep a positive perspective in the face of adversity. First, realize that no matter how bad something may seem, in all realty it’s probably not as bad as you make it out to be. At the end of the day, after dozens of rejections, issues, and hurdles, you are still alive and breathing.
Once you realize that 1. You can live to fight another day and 2. you probably aren’t in bad of shape as you think, then everything seems conquerable.
Know that these hurdles and rejections are barriers to entry for those who aren’t willing to do what you are. If you are knocking on doors for 2 hours a day, or driving neighborhoods for hours every weekend, or going to networking events and meeting new people every chance you get, then you know there are other people out there who aren’t willing to do that.
The biggest mistake you can make is to quit.
“Success is stumbling from failure to failure with no loss of enthusiasm.” – Winston Churchill
Not just with real estate investing, but with everything in this life, you must give it your all. Know that one day, you will be successful in whatever you put your mind to. Keep a positive perspective and never quit.