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INVESTORS’ CORNER: When I was starting out

 

I attended every meeting and seminar my local REIA provided.

How else could I possibly learn the business? (After all, they just don’t teach this in school)

Some of them cost me money to attend.

That hurt a bit as I didn’t have a lot of spare change to go around.

And there was a time investment as well.

So, I had to give up some other things, like social events or happy hours with friends.

Sometimes my mind rebelled and I didn’t want to do it. I didn’t want to spend the extra money or spend the extra time.

It was easier to just do the same old routine rather than rise to the challenge of the new business I was trying to build.

Or it was easier to just take the simply pleasurable choice of the social events or happy hours.

This mental distraction was a natural problem, but not the real problem.

The real problem was that I was viewing everything as a COST rather than an INVESTMENT.

But both the time-cost and the money-cost weren’t “costs”, they were investments.

Had I realized this subtle but important point sooner, I would have gotten ahead sooner.

Because looking back, that “cost” was a very small investment to make when I consider how MASSIVE the return has been.

Which brings me to the point:

There’s a difference between an expense and an investment.

A BIG difference.

If you always look at investments as expenses, you’ll stay stuck.

Payment for your education or for something that you get a return on is good. It’s an investment.

Buying a toy, or a drink, or a movie ticket is a cost, as you don’t have a chance to make any profit back from it.

 

So, keep your costs down.

Instead, focus on excelling at something that pays you back– like flipping houses (the #1 quick moolah-making skill in my opinion).

What’s the best way to learn the needed skills?

Glad you asked *grin*

 

Attend and join your local real estate investor meetings. You will learn from people that are doing it daily and will share information. Such as Metrolina Real Estate Investors Association (MREIA). They are the oldest and largest REIA in the Charlotte area. And have over 15 meetings a month throughout the the area.

Tom Zeeb is the president of Traction REIA in Washington DC and can be contacted at: https://TractionRealEstateMentors.com/tom. Tom is a long-time friend of www.MetrolinaREIA.com, and speaks nationwide on Wholesaling.

 

 

 

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