Over the course of my career, I’ve had the opportunity to meet many savvy and accomplished real estate investors. Do you want to know one thing I’ve noticed they all have in common?
They don’t wait for golden opportunities.
I’ve watched dozens, if not hundreds of people, hesitate to start their real estate investment careers because they are going about it all the wrong way – they are waiting for a golden opportunity to fall into their lap instead of going out and finding an opportunity that simply works and pulling the trigger.
How many times have you heard someone talk about the investment deal they could have purchased 10 or 20 years ago? Or how if had they known the real estate market was going to perform as well as it had how they would have gone out and bought 20 houses? Of course, they would have! Who wouldn’t?
The difference between the people who could have bought, and the ones who actually did, is the ones who purchased those properties did so because they simply knew they worked at that time and they acted on it. No one knew the real estate market was going to skyrocket like it did. In fact, most people were even saying back then the real estate market was in a huge bubble and about to burst any second, but the serious investors knew an acceptable deal for them when they saw it and they pulled the trigger. It was only after the market continued to rise that they’d realized they’d purchased their properties for such a great price.
Waiting for the golden opportunity to fall in your lap is like a baseball player trying to make it to the big leagues, but only ever swinging their bat when they know they can hit a home run or a grand slam. Do you think that baseball player would ever make a career for themselves waiting for that perfect pitch? Certainly not!
In our fast-paced world of instant gratification and ever-dwindling patience, very few people have the foresight and tolerance to make a series of acceptable investments which wind up turning into a very prosperous and ever-lasting investment portfolio which can take care of them for the rest of their lives if given enough time. Some people have referred to this as the “get rich slow plan”. Getting rich slowly is one of the greatest forms of patience you can practice because so few people are willing to give it a try and stick to it.
Finding those properties that fit into your investment model and simply acting on them when you are able to is the responsible thing to do if you are going to grow your investment portfolio. Funny enough, the more you can practice this the more able you are to actually act if a golden opportunity does happen to come by.
When it comes to real estate investing, don’t let perfection get in the way of simply good enough. My advice is to go out and find the investment properties that simply work for you and act on them, otherwise waiting for an opportunity of a lifetime could take you your entire life.
Until next time, Happy Investing!