I’m not the smartest guy around, not the best writer or marketer, but you know where I’m going to beat you every time? Speed. No one out hustles me. Most people sit around planning, researching and then planning some more. They want to read all the books, prepare the right way to make sure they don’t make any mistakes.
And that’s their problem, as they sit and prepare someone like me is out there, who read one book, or blog post, had an idea and is out doing it. I’m out trying different things, falling, regrouping and learning how to make it better. All that preparation is causing you to lose out for 2 reasons. 1, hustle will beat skill everytime and 2, the best teacher is experience.
10 years ago we got started with our first investment property and while I had a few friends who wanted to do the same thing, in ten years they still haven’t gotten in the game. They’re still waiting for a good time to start.
How we got started is a story in itself. We were at on Oktoberfest in Pennsylvania, and this older man asked if he could sit at our table. Nice guy, in his mid 80s and somehow the topic of real estate came up. He told us how he was buying 1 family houses in 55 and over communities for a great price and getting 15% returns on his investment. He was even nice enough to even tell us the town. It was a strategy I’ve never heard of. Most people start with multi-families and we had zero experience with this. But guess what, that following week Janet and I had a realtor and were down there house shopping. We found a great agent, that we still work with today, and bought something on our first trip. Flying by the seat of our pants, we opened up an LLC, picked the biggest unit and hoped we could rent it. We literally bought a house based on a 20 minute conversation with someone while we were probably(definitely) buzzed.
Besides getting great tenants that stayed for 6 years, that one property doubled in value and we pulled out the equity for other projects. That one house made us.
People wait for perfect while I live by good is good enough. Otherwise you may get two days into that dream you’ve been working on for 3 years and realize you hate it. Sometimes a failed dream is there to take you in another direction but you have to be hustling to figure it out. The timing is never going to be perfect, things are rarely line up that way. Try something new, have a general plan and just start. Doesn’t matter what it is, maybe it’s starting a business or new gym or teaching. Whatever it is just start, take that first step.
Things will always snowball with momentum.