Well, actually, Yes I do… - Posted by JT - IN
Posted by JT - IN on June 24, 2001 at 12:12:39:
What is the old saying (paraphrased): Success is 10% inspiration and 90% persperation !
I get the feeling that many looking into RE investing, as either a serious hobby, or a vocation, think that they can get all “inspired”, kind of like a revelation or a religious vision of JC Himself, and go out after listening to a few tapes, and actually make a million.
In reality, as indicated on the disclamer on the bottom of most infomercial ads, “these results are not the norm, and are extrememly small %, because after we get your money you will probably fall flat on your face”, or something like that. At the risk of being called negative, by expounding upon the realities of experiences by most new, wanabe RE investors, it just doesn’t ususally happen the way most folks expect. Now obviously, there are exceptions to this rule, whereby a New investor, we’ll call “Bumble-Bee”, (because bumble-bees don’t know that they can’t fly; defying physics), who doesn’t know that he shouldn’t go out and succeed, defies all logic, and puts together several deals against all odds, and begins making a respectable living. However, most expect that they will begin making the “big bucks”, cause they haven’t been able to do so anywhere else, and now is their time, due to this magical thing called RE investing. Well, I happen to be one that thinks that your life experiences mirror one another, meaning, if you haven’t been too successful at other things, then this will probably be your fate in RE investing. Sorry for the dose of cod-liver oil.
There are so many skills at play to a successful RE investing career, that are so underplayed here, and other places, that it almost makes me think that a 3 year old could make $$ in RE. However, I have been in this game, and the financial world for a long time, and I know better. Don’t misunderstand, I make quite a good income in this business, and I am not trying to make it sound impossible to do, but if it was easy as it sounds here on this board, then why isn’t everyone making a million?
Let me get off this horse, before I fall and hurt myself. I think/know that CREonline board is an excellent tool and asset to many, me included, as I often and routinely benefit from the knowledge and ideas put forth by many. I do happen to know that it is just not as simple as portrayed, in a lot of cases, and I think that many newcomers read and listen about, here and throughout the industry, and feel that it would be abnormal not to make mega-bucks in RE investing, because everyone is doing so, and all that I am saying is that the portrayal of that idea, which comes accross here and so many other places, is a dis-service to uninformed potential investors.
Just the way that I view things…
JT - IN
PS. Ron * made me say these things.