I am asked all the time by new investors, “What can I do get started and be successful
with real estate investing?” Very experience investors with expansive investment
portfolios ask the question a little different way, “What do I need to do to expand faster?”
Guest what? The answer is the same. SHOW UP!
You have to show up for every aspect of your life. It’s been said that just showing up is
80% of success. You have to show up and participate in your kids lives if you want to be
a good parent. You have to show up for your job if you want to have a good career.
Now let’s be clear. The definition of “show up” is a little more than the literal version of
just being there. You have to participate. You have to engage. If you do, I believe you
will be even more than 80% of the way there.
So what does “show up” mean in real estate investing and what do you have to do? Let’s
look at it from the new investor perspective first. You’re new. You don’t know what you
want to do in real estate. You’ve heard you should wholesale to get started or maybe fix
& flip. You’d like to have cash flow. You’ve heard you need rentals. You feel you need
a mentor to help you. You need money to invest. You need to learn. You need to get a
team in place. You have a million questions. You don’t know what will work for you and
what won’t. Pretty much sums it up, right? If you are new to investing, you should find
yourself in one or more of the previous questions. Let’s examine how showing up can
help you move forward on virtually all these.
Showing up to networking events, classes, AZREIA meetings, Phoenix Real Estate Club
meetings, AZRIA subgroup meetings, trustee sales, or anywhere real estate investors
hang out means you are serious and you are taking responsibility for your own success
in real estate investing. Imagine in just 30 days how many investors you will meet if you
set the goal of attending every one of these functions. Now imagine if you did that for an
entire year. Think of the contacts you would make. Think of the people you would get to
know that you could interact with, ask questions to, pick the brains of. Think of the deals
you might hear about; the sources of money; the best service providers to work with. All
because you showed up!
Showing up means more than just hanging around other investors. It also means engaging
in real estate investing activities. I can’t tell you how many new investors hang back
thinking there is a precise order they have to do something. One of my favorite questions
to ask the new investor is, “How many properties have you seen this week?” What do
you think the answer usually is? Showing up means get out into the market. If you look
at just five properties a week, do you think you are going to start understanding values
a little more? How about repair cost and time? What about understanding the type of
neighborhood you want to invest in; the rental make up of the street; or if the area is on
the way up or down?
Now think about combining being in the market with participating in networking
activities. Since you have seen a lot of properties, won’t your questions to other investors
improve? Won’t you start to sound like you know more because you will? Won’t
your discussion be deeper and more likely to yield results? Won’t you be taken more
seriously? Won’t you be more likely to find the mentor you want or the money you need?
Won’t you be able to understand the information or education you need to focus on?
Now I haven’t forgotten the experience investor. Showing up is just as important for you.
If you have read this article up to this point, your answer is easy. Just go back and ask
yourself each question that is presented above. Just change the context a little, so that it
focuses on expanding your business. The results will be the same.
Whether you are new or have an extensive portfolio, showing up will return results.
Showing up with a purpose will multiply those results. It’s funny, well really it’s not,
but I know immediately if someone is serious or not by just asking them a few questions
like I have mentioned in this article. It helps me to understand if I want to spend any time
with this person or not.
Will I see you around?