I received an email this morning that really touched a nerve for me. The email from a man named Stan. From reading Stan’s email, it’s clear he’s a good guy trying to do the right thing. His question is a really important one in today’s economy and I suspect many aspiring real estate investors are facing this situation, so I thought I’d share it and my answer with you.
“I did hear the Webinar on Thursday Night [concerning Loan Modifications] and am interested. Unfortunately I have limited funds and am about to lose my job so I have to be very careful where I spend what little I have left. You said this wasn’t one of your top 5 ways to make a buck so since you seem like a genuine person who does truly care about his folks who follow him I’d like to know what you consider the best way for me to get some income.”
My advice to Stan: Don’t buy any real estate courses right now. There is a time and place for investing in your education, and that time is when your current needs are being met. Unless you have a large stash of available cash, the most important thing for you to do is to find a way to replace your income. And unfortunately, the fastest way to do that will probably be to work on finding a new J.O.B. – at least temporarily.
Stan, there’s a lot of money to be made in the real estate investing business, and getting the proper education really isn’t optional. By the tone of the email you sent me, it’s clear that you are smart and understand that. But let’s set aside everything else and focus on purely pragmatic considerations for now.
Think of it this way: Whatever you focus on tends to happen. (Sometimes quickly, sometimes slowly.) If you distract your focus from finding a J.O.B. by ordering, studying and implementing a real estate course, it’s going to make finding a job much harder and take much longer.
Additionally, I’ve found that the people who achieve the greatest success in real estate (or other business ventures) are the people who don’t have to rely on that business for their immediate income. I think this is because they’re not facing the stress of REQUIRED SUCCESS, and because of this their business decisions are clearer and of greater quality because stress isn’t clouding their judgment.
This advice is hard for me to give, because a big part of my income comes from offering great real estate programs for purchase to my audience of subscribers. But because I respect you as a person and not just a source of revenue, I’m going to strongly recommend that you do not make a purchase of any real estate courses until your financial situation justifies it.
Remember this: very few of the “limited opportunity” programs you hear about are actually as limited as you’re told. So focus on your immediate needs and the needs of your family, and then use that base of stability as a jumping off point for greater financial results in the real estate investing business.
As always, I welcome your comments (see comments area below)! Thanks for reading http://realestate.BryanEllis.com.