It’s staggering that if most people were given the realistic choice, they would quit their job this second. Whether you hate your job or not, if given the realistic choice you’d probably considering leaving your job immediately. A great consideration is getting into part time real estate investing instead. But what do you do if you’re stuck in a full time job want to invest in real estate?
Most large investors start part time and isn’t that kind of surprising? What’s more surprising is that after many of them make it big, they often stay working part time. After all, who wants to work more when you don’t have to or you don’t need to? After all, people become financially free to have the time to do what they really want, right?
So can you keep your day job and become a real estate investor?
Here’s the big secret: That’s how most people start out at it. Hey you need to feed your family and you need to eat, right? You can pursue better opportunities while your full time job pays the necessary bills. Since, for now, you’re probably not capable of sustaining the possibility of not earning a large pay check right away, investing in real estate while working part is the only way to go. Regardless of what you do full time, if you devote your part time efforts to learning more and changing your life, it’s impossible for you not to get there.
Who is really wealthy?
I know it may sound like a silly question but most people see their upper middle class friends with a big house, two or three cars and they think are “wealthy” or “rich.” The truth is that most upper middle class individuals are the same 2 or 3 pay checks away from being completely broke that most of the poorer people are.
Here’s a simple litmus test to determine who is actually financially free. Did they go into a lot of debt to buy that “stuff”? “Yes” means that they’re not actually that far along towards being financially free. If you honestly looked at their situation, you’d observe that the bank really owns their stuff, not them. Tell them to skip a couple of payments if you don’t believe what I’m saying. You just reach freedom by purchasing expensive junk on credit to simply “impress the Joneses”.
Here’s a simple way to get ahead faster. Take whatever extra money you have and learn to invest in assets that make money. As those assets produce money, use them to purchase more assets. Your situation will change for the better as time progresses. You’ll be able to do whatever you want because your assets will pay for it. There’s something more valuable than expensive stuff. Do you know what that is? It’s the real freedom to do what you want when you want because your bank account grows without your involvement. After you have sufficient income producing passive assets to life off of then go ahead and buy the big house and car.
If you’re not yet capable of investing because you don’t know how, relax. Most people don’t. You can always learn. Do you know how many times you have to figure this stuff out? Once. In fact, getting started with quality material can be accomplished for free. Do you know where you can learn how for free? Every subject that you’ll need to know from investing, to raising capital to marketing can be found at your local library. I had only thing that fit my budget when I started and I still swear by it today, the library.
Make investing automatic – Get ahead using your brain
Treat real estate like a real business and it will be very rewarding for you. You’re forced to take your full time job seriously and you should take investing seriously too. If you don’t treat real estate like a business, you’re sure to not succeed. The courses you’ll inevitably take will probably leave you with various know how and techniques. Often, you’ll leave with a lot of excitement and hype. Your emotional “high” will eventually run out. What will happen to you then? That time period is really when your business model is put to that test. That period of time will show you if you’re really committed to sustaining a profitable living in real estate investing. Make sure to make the decision ahead of time to stick with it when that happens.
Alright, so I guess I couldn’t avoid the overused cliché. “Begin with the end in mind.” People that fail in real estate investing fail for one of two simple reasons. Can you guess why so many part time investors don’t ever become full time investors? Do you know why they don’t retire early and retire rich?
1) They lack qualified leads in their business.
Most new investors have the mental capacity to understand the techniques they have been taught. The biggest issue is that they don’t have enough qualified leads to regularly use their creative techniques with. Something makes all the difference and do you know what it is? I’ll tell you what is the key to every business. Marketing is 90% of every business. Do you what’s great about my marketing? I don’t look for business, business finds me. My phone rings off the hook with quality leads. In all honesty, I have lazy days where I don’t even call them back because I just don’t need the business. I wish it weren’t true but it really is.
Create your own market machine to attract the ideal client types consistently and do you have any idea what it will do for your business? Cha-ching. When new business finds you, you’ll make more money and work less. If you want to be successful without depending on a job, you’re going to have to master marketing regardless of whether real estate investing isn’t for you. The skills you will learn are transferrable to any business so they are still worth your time and effort to learn.
Think about this. Who do you know that swears from top to bottom that McDonald’s makes the best burger? Who do you know that has a better marketing system of hamburgers? The average person will consume food at the golden arches over 1800 times in their lifetime. Do you think it’s more due to them having the best fast food sandwich or the best marketing machine? Hmmm…
Treat marketing for leads like the fundamental part of your business and you’ll make the great leap from “part time investor” to “full time work when I want to.” Don’t do it and you can look forward to more of the bossman. That’s just how life goes.
2) They know how to do it, they just don’t use it
If you don’t get out and do something about what you’ve learned, you let everyone else decide what plans to make for you. Do you know what everyone else has got planned for you? Nothing. You can’t pay someone else to do your push ups for you and you can’t be successful doing nothing (at least not right away). Do you have a 90 to 180 day plan to leave the full time job? Make it as detailed as possible. How much money is “enough” to move on is up to you to decide. If you’re serious about achieving your goal, then it will happen for you. Take the time to write it down your goals so you’ll program your subconcious mind with something pyschologists refer to as “major definite purpose.” Your mind will begin figuring out how to get there. If you’re not yet committed to being your own boss in that short of a time frame that’s okay too. All that matters is what you ultimately want for yourself in this life. How to get there and what is “successful” is really up to you. What you should at least do is take your time and gather more knowledge that will only help you create a better future. You’ll earn more money whether investing or at a job from the extra skills you’ve taken the initiative to learn on your own.
I bet you know what the root cause of both of these issues is, right?
It’s only the fear of failure that holds all of us back. Think about this for a second. If you could be completely assured that you’d consistently make big time profits then you’d probably see as many clients as possible. You’d almost be beating down doors to cash your pay checks. The fear that you can’t achieve that holds you back. Go ahead and picture this for a minute. If you were given a list of people to see that had already agreed to do your investment technique but you only had 24 hours to use that list, how many of them would you see? If the answer is “a whole lot,” then you get my drift.
Your fears become entertaining when you take control of them
It’s important to understand that the negative outcome itself isn’t what’s stopping you. So just what are you really scared of? The fear of the negative outcome is all that you’re afraid of. You’re actually more afraid of the anticipation of the negative outcome then it actually happening in reality. You’ve probably experienced all sorts of negative outcomes so far in your life. There have been loads of teachers who had no problem putting an “x” next to your test’s negative outcome. But you probably weren’t actually that bothered by it, were you? By fearing imagined realites, you’re making yourself feel much worse. Here’s what you need to get about your fears.
Nothing has actually happened in reality yet.
The only place your fear of a negative outcome actually exists is in your own head. Nothing has happened in the real world yet and no teacher has given you the dreaded “x”. Pretend that you want to ask out that member of the opposite sex. Pretend you’re seriously worried that they’ll say no but you’re also very attracted to them. What do most people do? They let this anticipation persuade them into inaction and they just don’t get around to asking. Has this person in reality actually said no? You could probably handle getting that “x” anyways. Own your fear by realizing it is not anything to do with the other person that you fear. What you actually fear is the anticipation of a negative outcome in your own head which does not exist in reality. The good news is your imagination is completely under your control and you can easily reprogram it to anticipate positive outcomes. You’ll easily attract favorable outcomes when your mind is properly configured to accept success. If you were sure your financial success was there for the taking, you’d make sure to both generate that lead and then you’d make sure to close them. The scary truth is that all you have ever been afraid of is your own imagination. That sure is strange, isn’t it?
A Humorous Story – Do you hate your job like my friend did?
I am just not creative enough to make this story up. This is a true story that still gives me a giggle. Tom and I have since become good friends but we first met at the local real estate investors club. When I met Tom he was already a well established and successful investor. As we got to know each other more, he told me this story from only about 2 years back when he first began. He earned a computer science degree from University which he had used to spend 6 months at a related job. Like a lot of people, he quickly started to hate his job. Just out of curiosity, do you hate your job that much yet? Well let me tell you that he sure did.
Tom had taken a $5000 weekend seminar from one of the gurus in his spare time. From there, he wanted to invest in real estate but the course was totally incomplete. Let’s call the course an “R. Allen” course. No wait that’s too obvious. Let’s call it a “Robert A.” course. The course wasn’t actually all that useful but it gave him his first taste in investing which was part of the spark that propelled him. He recognized the unparalleled opportunities in real estate.
The problem was simply that like everyone else, he needed his job’s pay check. Do you feel like Tom sometimes? I know that when I started out, I sure did. This next part is just as sneaky as it gets. Tom stayed up all on a Sunday drinking coffee after coffee. He didn’t go to sleep that night. He went to see his doctor the very next morning. He told the doctor that he was so stressed out about his job that his health was suffering. For all of 5 minutes the doctor measured his vital signs which included his bloodshot eyes and the doctor decided he was obviously “too stressed” to work anymore. He granted him six month’s paid stress leave. Now isn’t that something else?!
Tom read some more books and pulled off his first deal about 2 weeks later. How’s he doing now? Tom now has purchased over $2.5 million in equity in over 100 properties and he enjoys over $15,000/month in positive cash flow every month. He used the opportunity to move from job to no job and he’s fortunate enough to travel from 6 to 9 months annually. With a focused mind, it won’t actually take a long time. Tom has done all this in less than five years.
So, what’s the moral of the story here? Tom obviously took advantage of the system but I’m not suggesting you do that. Just make sure you have a plan to ditch the J.O.B. Know exactly how much money it will take to get there and take steps so that you can see that in the next 6 month’s time.
The only way to get started is to find a way to work real estate investing in combination with your day job. If your full time job sucks, don’t sweat it. It will be less difficult than you are expecting if you are sure of where you want to go in life.
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