Why Failing Is the Only Path to Becoming a Real Real Estate Investor

Every investor I've ever met who is genuinely good at this business has one thing in common; they've failed. A lot. Not in spite of their success. Because of it.

There is a scientific reality to repeated failure lending itself to greater success. The more times you fall off the bike the more likely you are to learn to not fall off the bike. It's the fear of more skinned knees that stops most people from ever advancing to the level of expert. The expert isn't satisfied with the basic peddling of life. They seek out challenges, which is just a really good chance at failure. Think about piano players or martial artists. They practice, which means failing, thousands of times, and they seek to fail more.

Every failure comes with two things most people overlook. Lessons and confidence. Knowing you have the tools to face a problem only comes from using those tools when you're being tested. You can't buy that experience. You can't shortcut it. You have to earn it the hard way.

You can't be an expert in real estate investing without failing. You will chase dead end deals and dead beat contractors. You will argue with permit departments and completely miss your timeline and budget. That's not a sign you're doing it wrong. That's the tuition.

That's exactly why it's so important to know as much as you can going into a deal, and during it. As an investor your one job is to be an expert at evaluating the numbers. Everything else — construction, inspections, project management, legal, lending, those are jobs for other experts. You leverage their knowledge so you can focus on yours.

You know what makes hiring experts to do the work for you easier? A real deal with great return that didn't require cutting out the expert help to get it done. The investors who try to do everything themselves to save money are the ones who fail in the ways that don't teach them anything useful.

Don't stress about finding the first deal. It never becomes easier. You just become less distracted by the perceived hopelessness.

That's the whole secret. Keep going.

If you're ready to stop going it alone and want a construction expert in your corner on your next Houston deal — let's talk.

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