How Optimism is Sabatoging Your Real Estate Investment Business
by Fortune Builders
Optimism is a good thing right? Isn’t an elite level of optimism
essential for any real estate investing entrepreneur to succeed? Maybe,
but it could also be silently setting you up for failure!
A high level of optimism is certainly crucial when starting out in
real estate investing. You have big goals that need to be achieved and
it is going to take a lot of positive attitude to get you to them,
especially when facing the many challenges that will come your way.
Unfortunately, being too optimistic has been one of the greatest
downfalls of many who have called themselves real estate investing pros.
You should hope that everything goes according to plan, believe that
you can make it, that you will sell your next property in record time
and for top dollar but what about when things don’t pan out the way you
expected? Will you fall apart?
There are real estate investing ‘gurus’ who will tell you that you
don’t need to be reasonable or realistic about anything. “If only you
believe it hard enough, you can make it happen”. While this is
definitely true to a certain extent, especially in the grand picture of
things, a hope and a dream won’t always get you though alone. You need
to have the right plan, do your homework and take advantage of all the
additional tools and real estate education you can get.
You need to be realistic about how much work rehabs take, the
possibility that things can take longer to happen than you think,
closing costs will be higher than expected and you will often net less
than you hoped on your real estate investing deals. Other things will go
wrong too. People will mess up and make mistakes which could
potentially cost you thousands of dollars.
By hoping for the best and planning the worst or being a ‘pessimistic
optimist’, you can take it all in your stride. Plan, where you can,
commit to remaining calm under pressure and resolve to simply taking
positive action to remedy the situation versus panicking.
If you can do this then you have every reason to be incredibly optimistic about your future in real estate investing.
go to Fortune Builders
No comments:
Post a Comment