There are many excuses people make investing into real estate. Check out the common excuses we hear most frequently below.
The first common excuses people make investing into real estate is saying the market is too hot. Typically the market is always hot. There’s always a lot of competition and pricing is always going crazy. You just have to find deals and be creative. You can look in secondary and tertiary markets to see what deals make the most sense. Don’t use the excuse that the market is too hot or is not good enough when you’re acquiring a property.
You can find deals. Connect with sellers and brokers, look for those deals, and really hustle to find where the numbers work. You have to search hard for deals. We’re always searching for deals and looking at ones that are off market. That’s also been a great strategy to use to acquire properties because it eliminates the competition. This way, you’re going to be the only bidder, and that’s one strategy you can use to get the best deals in a hot market.
One of my favorite excuses a lot of people make is saying they don’t have enough capital to invest. This is a big myth. You can invest into real estate and you can find equity to invest into deals.
Networking is one of the biggest keys to finding capital to invest into real estate deals. You have to build your network and connect with people who are successful financially. Then you can offer them a preferred return on their capital. If they invest capital into your deal, you’ll pay them an annual percentage rate on their money so they generate a return. It’s a win-win for both sides, and that’s really the goal you want to have in mind when you’re raising capital. That’s going to be the best way to close on deals and raise capital for your real estate deals.
It’s too much work. That’s another common excuse a lot of investors make when investing into real estate. Real estate takes a lot of time, effort and skill to make it successfully generate revenue for you. However, as long as you have the right team in place, they can help you bring all of the pieces together. They’ll be able to cut down on the amount of work that one single individual has to do. As long as you build a team and you delegate all the necessary tasks, such as property management, looking for deals or any of the tasks that you feel that would really bog you down, you can outsource these tasks and build a team around some of the efforts that you need to take to create success.
Investing into real estate is a lot of work, but you can put the pieces together and build a team to help you execute, move quicker, and save you time and effort, which will allow you to be more on the passive side. Your team will be able to delegate and execute on a lot of the tasks that need to be done.
Another common excuse is it’s too hard to execute investing into real estate. Everything that you have in life that’s worthwhile takes a lot of work, time and effort. If it’s something that means a lot to you, and it’s going to create enough financial freedom for you and freedom overall is something that you want to achieve, then investing into real estate is something you’re going to have to put the time and hard work into to make it successful.
If you’re not willing to put in the hard work or the time to create success and create financial freedom, then what’s the point of investing into real estate and putting everything together. Maybe that’s not something that you’re excited about accomplishing. Maybe you don’t need freedom, or maybe you already have enough freedom and success in what you’ve been trying to accomplish. Overall you have to think about what your ultimate goals are and see whether it’s worth investing into real estate.
It’s one of the biggest excuses to say you don’t have enough time because you can create time within your schedule. You just need to have a lot of good time management. There needs to be structure in your calendar where you can allocate time. You can work all day and then once you come home, if it means enough to you to create freedom, then you’d be able to schedule time after work instead of going bowling or hanging out with the guys. There’s plenty of time to make it work, you just have to be creative with your schedule and put it all together and put in the hard work to see it all the way through.
Above are the excuses people make investing into real estate. It’s going to take a lot of time and effort, persistence, and drive to make it work but it’s going to be worth it. You just have to get started investing now.
Do you want to learn more about investing into real estate? Check out the rest of our blogs!