You SHOULD Give up on Real Estate?

Wednesday March 24, 2010, the day I gave up on Real Estate Investing!  I’m going to write it down in my Baby Book!

We’re three months into the tenth year of 21st century, and truly what have I accomplished in the first quarter?  Couple of flips, few new rentals, nothing spectacular.  Detroit has kicked our butt the last couple of months, even took a couple of losses on some houses.  Heck I think the house in this post might be one of mine!

So why should I keep on in this business that for the past three years has been the most challenging we’ve ever seen in the history of America.  I’m starting to see why most of the Rich Dad students who’ve spent an average of 20-30k on their education still haven’t done anything with it yet.  I see why people go to Guru’s courses for a weekend boot camp and then never do anything except let the books collect dust. 

IT’S TOO FREAKING HARD!  We should all just get in one big group, curl up in a ball, and complain about how hard it is.  That’s the answer! 

Or we could just never do anything at all. Perhaps start off real Gun ho for about two months and then stop for whatever reason.  There’s always enough excuses to go around. That’s what 90% of the Rich Dad guys do.  Spend all those tens of thousands of dollars, for what?  To make Robert Kiyosaki more money!  He’s stinking rich already, what did he need your money for?  Oh yeah, he didn’t.  You were just caught up enough by the hype to figure if you gave him some of your money, then he would make you rich.  How’s that working for you?

The truth is that real estate investing, just like any other business is a grind.  It’s full of ups and downs.  Highs and lows.  Risks and rewards.  Lots of money to be lost, and a lot of money to be made.  The question is always the same question that it always boils down to every single day of your life, no matter what it is that your are doing that day.  “What are you going to do?”

Again for 90-95% of folks, the answer will be………NOTHING!

So why is it that I decided to write this post today?  Boredom, necessity, the need to blow off some steam?  Nope not the case.

The truth is I’m tired! 

I’m tired of seeing how many people refuse to take the step that will finally make them some money.  Tired of listening to excuses as to why this is not the time to invest in Real Estate, or start a business, or do something, because of the risks involved.  I’m tired of  thinking about how much money you WASTED in education that never got put to use. I’m tired of the only real blog posts and videos that get results is when I say something off the wall.  When I’m actually educating nobody watches or reads them.  But let me say I’m quitting the business, the video goes through the roof!  Don’t even get me started about the “Rich Dad has Failed YOU” video! 

But most of all, I’m tired of seeing folks fail!

Fail to take action! 

I had an really long conversation with the director of course curriculum at one of our local colleges yesterday, as they want me to come down and do some classes for people interested in Real Estate and Business investing, and he asked me a question that I’ve been asked time and time again, and when I gave him the answer, he said he was amazed at how simple it was.  His question was, “what method do I see that is consistently being used successfully in Real Estate Investing, and where are people failing?

My answer:  Those who are successful take action.  Those who fail, do nothing!

It’s always the same.

So You should give up on Real Estate.  After all it’s too hard, you could fail.  Like me you could take some losses.  Lose a few dollars here and there.  Buy some wrong houses, invest in the wrong tenants.

Or just like me, you could see more gains than losses.  Supplement your income so that when your boss walks in and says they had to let you go, or your plant shuts down, or your “temporarily” laid off, you aren’t freaking out about how you are going to pay the mortgage, car note and little Susie’s piano lesson’s. 

I mean that hasn’t happened to anybody the past couple of years has it?  The economy is booming isnt it?  (Yeah Right!)

For me, I just know when it’s all said and done, I would never want to look myself in the mirror and have to think “What If.”  When it’s all said and done for me, I’ll know because I will have succeeded or failed based on my ACTION, not my inaction. 

What about you?