I have to tell you that succeeding in real estate is a matter of ambition, not a function of a recession (or economic boom, for that matter). In fact, in a recessionary market like the one we are facing now only provides greater opportunity for you to succeed and find deals that you would not easily find in bull markets. Let me break it down to you this way:
“If you want to be successful in real estate, you must be convinced that you can be successful in real estate.”
Sound simple huh? Well it really is. But think about your past and how, perhaps your parents or grandparents, or other family members and friends have programmed you for failure. Sayings like “Money doesn’t grow on trees” or “You have to sacrifice for a long time before you can get what you want” or “Just do something right now, build up some cash and then do what you want” spew from the mouths of family and friends all the time. And these saying couldn’t be farther from the truth.
Listen to me, I had all the same things programmed into my brain growing up. But I finally came to a point in my life where I realized this – they were all wrong. All those things they told me just weren’t true. And I realized something else – if I followed their advice, I would end up in the same debt-ridden, enslaved to a job state that they are in, even today.
I am happy to tell you that I am job-free and virtually debt-free as well today because I finally made the decision and the commitment to my financial future, fired my boss, and went out on my own. It has been over a year now since I freed myself from the dead end job, and I am doing fantastic. I sleep as long as I want, I work in sweat pants most of the time, and I am on my way to making more money than I ever could at any job.
So what is my secret? It’s no secret. I dared to dream, and then acted on that dream. There are a lot of dreamers out there, and there are a lot of hardworkers out there, but there aren’t many people that do both. You have to surround yourself with like minded people – start by joining your local real estate club. Start reaching out to those people, tell them what you are trying to do, and get their advice. Before you know it, you will probably be setting up teaming arrangements with them to get business going.
So bottom line, you can make money in real estate (or really any other business as well) in any economic condition. Start with a dream, act on it, surround yourself with like minded people, and seek out ways to find creative financing to get your ventures started. One thing you can do right now is fill out your name and email below, and get on my REGA list to get updates on advanced automation tools to make you more effective in your real estate pursuits. Good luck to you and let me know if you have any questions by commenting below.