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Real Estate Investing: The Number One Mistake
from:by Dan Forbes
There are a lot of mistakes that beginning real estate investors can make. But there is one mistake that is by far the most common. The number one mistake made by beginning investors is failing to take action. As you attend the real estate investor’s club meetings and seminars you’ll notice a lot of the same people all the time. A majority of those people aren’t investors yet. They are still trying to get started. They are beginners. And, some of them have been beginners for years.They attend seminar after seminar. They read book after book about investing. They attend meeting after meeting. They have accumulated a lot of “head knowledge”. The problem is they are making the most common mistake of all. They have failed to take action.If you come back a year from now most of those people will be right where they are today. I implore you to take a vow to avoid this mistake.There is simply no substitute for action. Even if it’s a mistake. Just do something.Your goal should be to purchase your first property within the first 90 days. There is no reason that you can’t accomplish this goal. Take action. Take action every day. Don’t let a single day go by without taking some sort of action.Make a list of 10 things, 20 things, or 100 things you must do to get started. Then take action everyday to accomplish those things. Move forward toward purchasing your first property, then your second, and third, etc.Thomas Edison is known for his wonderful inventions and probably best known for inventing the incandescent light bulb. He worked on it for years and failed thousands of times.At one point after suffering thousands of setbacks and failures he was asked, “What keeps you from giving up?” He replied, “Why would I give up. I haven’t failed. I know a 1000 ways that don’t work.”Don’t be afraid to take action. Don’t be afraid to make mistakes. Some of your greatest achievements will be borne out of the mistakes you make.I’ve talked with hundreds of investors and NO ONE has ever said, “I wish I had waited longer before taking action.” No one has ever said, “I wish I had done less.” Without fail, every one of them said, “I wish I had started sooner and bought more properties.”
Dan Forbes is the broker/owner of Premier Team Inc., Realtors, in Bradenton, Florida. He has assisted over 1000 buyers, sellers, and investors. He is also president of the Bradenton Real Estate Club.BradentonRealEstate.com" target="_blank"> BradentonRealEstate.comBradentonRealEstateClub.com" target="_blank"> BradentonRealEstateClub.comFREE Newsletter
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