One time, I was helping a young guy who had just started in real estate. He made a lot of money in his first year. This was great, but it also made him skip important lessons about building a good business.
In our first talks, I had to be very honest with him. I told him that he missed out on a lot of important stuff because he made money so fast. He didn’t learn how to be a good leader or how to work well with a team. He wasn’t patient and didn’t think very highly of others. He thought that he would do well in any business just like he did in real estate.
He got bored with his current business and wanted to start something new. He wasn’t happy with the money he was making, even though it was a lot.
When I asked him why he wanted to do this, his only answer was to make more money. But you can’t build a lasting business if the only reason is to make money. You need a stronger reason.
He wanted to start another business that would make a lot of money fast, without having to work hard or give anything good to his customers. I told him that this kind of business won’t last. There are many things, like other businesses, rules, and new tools that will make you build your business the right way or it won’t survive.
I’ve seen this happen a lot in real estate. I’ve done a lot of deals over the years, and I know that it takes time to learn about a new market. Even if I want to make a lot of money on the first deal, I know it may take a few deals to really understand the market and start making money.
So, I asked him this question: “What about real estate investing excites you enough that you’d be willing to put a decade’s worth of sweat and effort into it to see it flourish?” He didn’t have an answer. Most people want success to happen fast and don’t want to work hard for it. The media makes it seem like quick success is easy, which makes people think it’s possible.
Many people are drawn to real estate because you can make money fast and you don’t need a lot of skill. But there are no shortcuts to lasting success, not even in real estate.
In the end, if you want to be really successful, you need to grow as a person, build your business in a good way, and have a strong reason for doing what you do.