4 Self-Sabotaging Excuses Holding You Back From Investing Success

From biggerpockets.com:

4 Self-Sabotaging Excuses Holding You Back From Investing Success

by Eric Bowlin

A few years ago, my good friend asked, “Do you really think it’s possible to make money in real estate?” He continued, “My dad tried before. They all say, ‘If it’s so easy, then everyone would do it.’ They don’t think you can do it.”

The funny part — I had already been doing it for a few years and was very successful at it.

Real estate is a tried and true source of wealth that people have been investing in for literally thousands of years. Land has been the primary source of income, power, and conflict since the dawn of civilization. Lords would use any law and create any excuse to take more of it.

Now people have a Rolodex of excuses they use to avoid real estate investing. It’s strange how things have changed.

So today, I’ll tear down some of the excuses that I have actually heard.

1. The classic: “I don’t want to fix toilets and leaky faucets.”

This is the most common excuse I hear. Too scared to get started? Whip this one out. Thought about investing but couldn’t figure out how to get started? Leaky faucets stopped you. Anyone who has thought about investing in real estate but never gets started can use this classic excuse.

Honestly, who enjoys replacing toilets? I doubt even plumbers enjoy it. That’s why we have plumbers, though. They get to do the work that landlords don’t want to do.

I’m going to digress for a moment.

Real estate investing is different than property management.

Many investors choose to manage their own properties and projects. They either do it out of necessity (the deals don’t make enough to hire other people), or they just want to pocket the extra cash and reinvest it.

Just because many investors act as their own property managers does not mean property management is part of the job description of a real estate investor. Many investors are extremely successful and never touch a paint brush or leaky faucet.

The thing is, property management is a J.O.B. — while investing is not. You can do a quick search online and find a dozen property managers who will fight over each other to manage my properties. So, you can hire someone to do the management and just focus on finding great deals….

Read more @

https://www.biggerpockets.com/renewsblog/excuses-sabotage-success/

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