Three Reasons Why Real Estate Investors Fail
There are plenty of reasons real estate investors fail. I'm willing to bet you can think of 10 reasons right now why it's been tough for you to get off the ground in real estate investing.
Are my assumptions correct?
Whatever your reasons are, I'm sure that a lot of people can relate to them. But I wanted to touch on 3 main reasons today because I've found that these "reasons" are what REALLY keeps investors from succeeding.
So here they are:
Number One: Structure
When one of my students, Erik, first started in the real estate business he had NO IDEA what he was doing. He had no knowledge, no mentorship, and ultimately NO STRUCTURE.
Because of this, it took him 18 months to get his first deal. And that check was only for $2500. Shortly after that, he reached out to me and I took him under my wing.
And THAT's when the money started rolling in for him. Utilizing my structure and the tools I recommended, a few months later he was able to bring in over $45,000 in assignments.
It was well worth it for him.
What I'm trying to say is that without "structure" and having the right tools in place, it will be difficult to make money in real estate investing.
Some of the things you need in order to have some structure in your business are:
Power Dialer(Single line dialer works just fine)
Landing Pages/Websites
Automated CRM(Contact Relations Manager) Systems with SMS and Email Capabilities
Mentor
Number Two: Leads
Some people are afraid of 3 things in life:
Death
Public Speaking
Investing in themselves and their business
The first 2 are understandable, but I'm still puzzled by the third one. It's unbelievable because people will happily spend money on things that will make them go broke, but they will hold back when it comes to investing in themselves or their businesses.
And yet those same people are the ones that want to make millions of dollars.
To succeed in real estate, you need to find a successful person who is actively investing in real estate and drive leads into your business.
Yes, the leads will cost you money, but you only get out of the business what you put into it. There are ways to find deals without spending money, but ask any successful investor how they find those "off market" deals that they make TONS of money on and they will tell you it's all through marketing.
Number Three: Offers
For 5 years, I've coached and mentored people who are afraid to make offers on houses. Maybe it's because they're embarrassed by the offer, believe the seller won't accept, or are in their own way.
If you want to succeed in real estate, make offers. The more offers you make, the more money you'll earn. That's how the game is played.
There are plenty of reasons why investors fail, but if you can have some structure in your business, generate leads and make offers, you'll be 90% there. And don't forget a mentor to show you the way.
If you're serious about investing in real estate and willing to invest in yourself, I have a few coaching spots open. Join me and I'll show you the way.
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