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An Open Letter to the Struggling Real Estate Wantrepreneur - YouTube
Channel: BiggerPockets
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so hello you know it's been a little
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while since we talked and got some good
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news and I got some bad news the good
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news is that you're still interested in
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real estate investing you're still
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looking to increase your cash flow grow
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your wealth and experience the kind of
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life that you create rather than the
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kind of life created by someone else but
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here's the bad news
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you still haven't made any progress
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toward actually achieving those goals
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you're no better off than you were a
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year ago when you first got the bug
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you've been reading articles and bigger
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pockets watching videos attending
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webinars and maybe even ventured into
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the scary land that we call the bigger
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pockets forums but you still haven't
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made the plunge
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so I wanted to write you this quick
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little note recorded this video today to
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encourage you on your journey to give
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you a few simple pieces of advice that
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will make a difference in the next year
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of your life
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first of all level up your friends so
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who is spending the most time with
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I think we both know right as we talked
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about before you are the average of the
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five people you associate with the most
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now I'm not saying you should abandon
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all your friends who don't invest in
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real estate because frankly there is
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more to life than getting rich in the real
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estate but you've got some friends who
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are doing nothing but dragging you down
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causing you stress and drama that you
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don't need and then there are the people
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that you know you should be spending
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more time with but you just aren't you know
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why
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well maybe you're too afraid to ask them
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onto coffee right or maybe asked them to give a tour on
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their latest house flipper
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ask if you can see their last rental
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properties nervous but these people
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are going to help you so much so try to
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make time every week to meet with those
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people
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the people who you want to be like
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now second stop jumping from idea to
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idea just pick something and stick with
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it last month you told me you wanted to
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flip houses but now you say that you
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think the BRRR investing sounds more
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fun and so you're working towards that
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now yeah it's good to be knowledgeable
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in a lot of areas but I'd encourage you
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to go all-in on the strategy that's
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going to get you to your goals the
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fastest and stop reading all those
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blog posts on the internet marketing the
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franchises selling on amazon and all
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those other money making things look I'm
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sure they work fine people make money in
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that but you've chosen real estate so
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focus on it
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third get some accountability on that
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note I want to
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recommended that you form an
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accountability group mastermind with a
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few others who are trying to grow their
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real-estate business because it's rarely
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lack of knowledge that's holding people
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back from achieving their goals instead
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its lack of execution for example last
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month we talked about spending sending
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those direct mail letters to all the
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absentee landlords in your area to find
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a great deal yet you still haven't sent
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those out
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you're killin me smalls seriously so
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what I want to encourage you to do is
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form that mastermind group three or four
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other people you can find them probably
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the bigger pockets forums or a local
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unofficial bigger pockets meet up with a
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bigger pockets com such events for that
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and then meet every maybe a week or two
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over skype identify your next steps
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together and then set some goals for
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yourself and what you want to accomplish
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over the coming week
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just hold each other accountable to that
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the results will blow your mind because
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remember success is never a single event
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but the series of small actions taken
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consistently your mastermind group is
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going to help you continually accomplish
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those small actions next read these
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books have you read rich dad poor dad
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yet I asked you to do if not read that
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today also pick up a copy of my
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first book the book on investing in real
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estate with no and low money down since
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I know you don't have a ton of money to
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start investing in that book will give
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you all the different ways that I've
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been able to invest without using my own
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money and if you decided that you are
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going to get into rental properties read
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the book on rental property investing
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this week as well or if you're gonna
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flip read the book on flipping houses
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you can look for all that at the bigger
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pockets tour bigger pockets complex
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store now I don't have a ton of time to
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read either so you're sitting in a car
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though for five hours a week so here's
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what i recommend go to audible get a
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membership 15 bucks a month
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well worth the price now last piece of
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advice I have for you i want to leave
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you with this
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the one thing I wish I would've known i
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got started look real estate success
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does not happen overnight but it does
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happen in fact sometimes it's hard to
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even see that you're making progress
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you're putting years of work and you
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look around and be like is this all even
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worth it and trust me I've been there
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but here's the beautiful thing about
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success is that it grows exponentially
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you'll start seeing little momentum here
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and you'll find it getting deals are
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getting easier managing tenants and
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rehab projects is easier
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able to take a few more vacations spend
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more time with your family and enjoy
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life and it just takes bam and it happens
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without you been expecting it that's the
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power of the compound effect which while
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we're at it that's another great book to
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add your list the compound effect by
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darren hardy It's about like having those
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daily steps the daily actions you do
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every single day of a compound great
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things and trust me it works but it only
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works if you work so don't give up keep
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moving forward be a persistent and know
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that I and the rest of the 600,000 plus
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members of the bigger pockets community
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are there for you every step of the way
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you are part of the bigger pockets
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family and family doesn't leave anyone
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behind
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i hope this video and letter doesn't
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come across a little too intrusive I
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just see amazing things for you and your
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future but I know you're struggling and
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i hope this gives you some hope and
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encouragement to go out and live your
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dreams your friend Brandon with bigger
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pockets . com
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