Why Your First Real Estate Deal Could Be Your Last If You Let Emotion Drive It
Emotion is a great thing for humans. It's a terrible thing for investors.
You have to be empathetic. You have to be a real person who understands what other people are going through. But you cannot let emotion blind your logic. Best wishes and hopes don't pay the bills. Not verifying details, allowing yourself to go deaf to warning signs because you want something to work out, that's how people fail. Hard and with finality.
I don't blame people for it. That's not my thing. But the fault does lie with the individual. Maybe there's enough fault to spread around between the hungry first time investor and the wholesaler hungry to get theirs. But at the end of the day you are responsible for your own decisions and the information you chose to act on.
The problem is that you cannot always see the situation you're in when you're in it. Like standing in a valley and not seeing a tide coming from a broken dam upstream. Or being in the middle of a crowd and just wanting a way out badly enough that you stop thinking clearly about which direction you're actually running.
Most people starting out make the exact same mistakes over and over. And there are people in this business who specialize in taking from beginners exactly what they can while they can. It's unfortunate. It's also how it has always been.
Just because everyone else is doing it. We've all heard that our whole lives. Trendy doesn't mean right or productive. What it means is that you'll feel like you fit in, like you're on the right path, maybe even like you're cool for a minute. But that's where the vultures wait. That's where the truth gets obscured by the dust of the stampede.
Real estate is always either a buyers market or a sellers market and there are always reasons, excuses really, for investors to say it's not the right time during both. The constant is the masses doing the same thing and failing while blaming the business, when the truth is they were only ever playing a game instead of building something real. Contractors are only as bad as you allow them to be. Agents don't owe you more effort than you give them. If people don't want to serve you move on to the ones who do.
Look hard at what you actually want. Don't rush. The only thing making your first deal difficult is your own doubt. The only thing that can make your first deal a failure is your own failure to trust but verify, to gather facts from reliable sources, and to think clearly when the crowd is telling you to hurry up and jump.
Hear the vultures out so you know what tricks to avoid. Then leave the crowd behind and make your own path.
That's how every serious investor I've ever respected got started. And it's the only way that actually works.
If you want someone in your corner who will tell you the truth about your deal before you commit to it, let's talk.
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