Part Time Real Estate Investing

Posted by: theinvestortoday / Category: Articles

It’s a little crazy to think that if most people were given a realistic choice, they would quit their job tomorrow. You don’t have to look further than a lottery commercial to know that I’m not making that up. Whether or not you hate your job it is probably inside of your long term plans to not be doing the same thing forever. One of the things people have considered is getting into part time real estate investing. But what do you do if you’re real estate investing with a full time job?

Did you know that pretty much every investor starts part time? They usually will continue on working part time too. After all, if you made enough money that you didn’t have to work full time, would you? The purpose of being financially free is supposed to be to have the time to do the things you really want, whatever that may be.

So what to do about part time real estate investing?

That’s how most people start out at it. Hey you’ve got to put food on the table somehow, right? Your full time job probably allows you to not starve. Just make sure you’re using your available time to work on better opportunities simultaneously. Since, for now, you probably can’t sustain the possibility of not having a weekly pay check, part time is the only way to go. Here’s something to think about. Regardless of what you do full time, if you devote your part time efforts to learning more and changing your life, it’s impossible for you not to be incredibly successful. If you devote your part time efforts to TV shows, you’ll know the line-up for the week.

Who has real wealth?

I know it may sound like a ridiculous question but I ask it for good reason. Most people see their upper middle class friends with a big house, two or three cars and they think are ‘wealthy’ or ‘rich.’ You might even hear them ‘wish they had that kind of money.’ The truth is that most upper middle class individuals don’t own anything. They’re only 2 or 3 late payments away from being completely broke.

Here’s a simple litmus test to determine if someone is wealthy. Is their expensive ‘stuff’ purchased on credit? If the answer is ‘yes’ and it probably is, then they’re nowhere close to being financially well off. If you honestly looked at their situation, you’d observe that there’s someone else who really owns it all. Just who do you think that it? The bank really owns their stuff, not them. If you don’t think so see what happens if they just stop paying for it. By continually buying expensive stuff only to impress the Jones’, they’ll probably never achieve financial freedom before they die. You just can’t be 2 or 3 payments away from disaster with the bank and simultaneously be rich.

Here’s a simple way to fast track success. No matter who you are you probably have a few extra dollars. Whatever extra money you have saved, learn to invest in assets that make money more money. If a car costs money but doesn’t make money, does that count? Nope. As your assets produce more money buy more income producing assets. In due time, wealth will find you. When you have enough assets to buy whatever you want and do whatever you want, then it’s safe to buy the fancy car. There’s something in life that it’s infinitely more valuable than all that expensive stuff. What do you think I’m talking about? I’m talking about freedom. You know? The real kind of freedom that lets you do what you want when you want. It’s the freedom to know that your bank account grows without you doing anything all. You can buy the big house and the big car after you have enough income producing passive assets for you. If you don’t have to look in your bank account to know how much is there because you know it’s ‘enough’ then you’ll get exactly what I’m talking about.

If you don’t know yet how to invest money now there’s good news. Most people don’t even have the slightest clue. You can always learn. Do you know how many times you have to master the skills to become wealthy? You only have to master them once. In fact, it won’t even cost you a cent to get started. Do you know where you can learn how for free? Your local library has a ton of how to books on investing, raising capital and marketing. You’ll literally be able to find all the skills you need. Do you know why I learned at the library? Because when I started it was the only budget I could accommodate.

Make investing work automatically Plan ahead and use your noggin

Real estate investing is a business so treat it like one. You don’t get to do nothing at your full time job. Don’t waste your time at your business either. Not treating real estate investing like a business is the fast path to letting the bossman tell you what to do for your whole life. After you obtain the knowledge from the courses or books you’ve reviewed, that’s when your business really matters. You’re probably going to leave with some know how and techniques but the real thing you have to harness is the emotional high and motivation you experience. What happens when all that enthusiasm wears off and every day life sets in? That’s when your business model is really going to be tested. If you’re not seriously committed to long term financial success, that’s when you’ll go looking for the next piece of overpriced motivational material. Avoid that trap. Make the decision to stick with it during the day to day grind before that sets in.

Overused cliché number 2175, ‘Begin with the end in mind.’ I could literally count them all on one hand because there are only really two reasons people don’t succeed with real estate investing. Do you know why most part time investors don’t ever become full time rich investors who retire early?

1) Their real estate business doesn’t generate enough good leads.

Most new investors possess enough mental-wherewithal to comprehend the material. If you have the techniques but no one to show your business to, then how are you going to get paid? It’s like having a great website that doesn’t have any traffic. Do you know what makes all the difference in your real estate business? I’ll tell you the secret of success to every single business and that’s marketing. Ninety percent of every business is marketing. Do you what’s great about the marketing campaigns that I employ? I don’t have to look for business, business finds me. My phone rings off the hook with quality leads. What I’ve done is completely repeatable if you treat your business like a marketing machine.

Do you know what happens when you emphasize getting quality leads to find you? Money beats down your door to find you. Think about this. When you new business looks for you, you can actually work less and make more money. So if you’re reading this and you decide that you want to be involved in another business, you’re still going to have to become highly skilled in marketing. The marketing skills you learn in real estate are 100% transferable so it’s worth your weight in gold to learn them.

I want you to consider this. Who do you know that swears that McDonald’s makes the absolute world’s best burger? Who do you know that has a better marketing machine than McDonald’s? Trust me that they didn’t ‘proudly serve over 99 billion’ on a hamburger rep. It’s not their fast food burger that’s made them succeed but rather their state of the art marketing machine.

You absolutely have to treat lead generation like the core aspect of your business. If you do that, that’s when your title will change from ‘part time investor’ to ‘full time work when I want to.’ Hey if you don’t want to learn how to creatively market for cheap or even free, you can always just look forward to more of the bossman telling you what time to wake up every day. Everything is a choice and I respect that one too.

2) They know what works, they’re just too lazy to use it

Do you know what happens if you leave it to the world to decide for you what you want? Nothing will happen for you because the world has nothing planned for you. You can’t pay someone else to do your push ups for you. You can’t be successful without taking action at the start. Make a realistic 90 to 180 day plan to leave the full time job if you’re serious or at least one that details the part time income you’re going to require. If you use a lot of detail then it will be easier for you to picture. You’ll need to know just how much money is ‘enough’ because ‘quit my job’ is simply too vague. You are your own rule-maker. For some people it is tough to decide for yourself what you want to do when we have a society trained to dictate to you what you ought to be. Nonetheless, it is the only path to freedom.

If you’re serious about achieving your goal, then you will achieve it more easily than you think you will. Just by writing your goals down, you’ll give yourself something the psychologists like to call ‘major definite purpose.’ When you give yourself a clear measurable goal, your subconscious mind will begin finding ways to achieve it. You won’t ever take a shower again without having a light bulb pop up over your head. If you’re not yet committed to being your own boss or the time frame is too short, that’s alright. It’s all about what you want for yourself in life. Not everyone wants the same things. You decide what is successful enough for you and you decide when you are there. In the interim, learning some extra skills will go a long way in the long run even if you stay at your job because extra skills will only make you more valuable to the company. In the end, the investment in yourself will result in a bigger pay check one way or the other.

Do you what’s at the core of both problems?

There’s one thing holding us all back and that’s the fear of failure. Think about this for a minute. If you were completely sure that you knew the right techniques to profit from deals and you knew that you could produce steady qualified leads, how many people would you go see to get paid? You’d probably see as many as possible. You’d almost be beating down doors to collect the money. The truth is that the fear that this outcome isn’t possible holds you back from going and taking it. Imagine that you were given a list of leads to see that had already agreed to do a large money making deal with you but you only had 24 hours to use that list, how many hours could you see yourself working? You’d start early and end late.

Take ownership of your fears so they go away

It’s important to understand what’s actually stopping you. It’s not that the negative outcome itself that’s stopping you. That’s not actually at all true when you think about it. Instead, you’re actually more afraid of the anticipation of the negative outcome then it actually happening in reality. You’ve probably had all kinds of negative outcomes in your life. There have been loads of teachers who had no problem putting an ‘x’ next to your test’s negative outcome. In fact, did the teacher’s ‘x’ scare you? Probably not. Did the thought of getting a bad grade work you over? Maybe. The age old saying is that ‘the fear of death is worse than death itself.’ Isn’t it true that you probably didn’t get all that worked up about having a wrong answer, did you? The ironic thing is that you actually feel much worse fearing outcomes and probabilities that haven’t yet come into existence yet. The fear of that experience is scarier than the experience. Here’s what you need to understand.

Nothing has actually played out in reality yet.

The only place your fear of a negative outcome actually exists is in your own mind. Nothing has happened in the real world yet and no teacher has given you the proverbial dreaded ‘x’ that you have been fearing so much.

Pretend that you want to ask out that member of the opposite sex that you’re really attracted to and that you’re afraid they’ll say no. What do you think that most people do? They let the fear of a negative outcome own them and they just never ask. Has this person in reality actually said no? You can handle being told no anyways, you just can’t handle the anticipation of being told no. Own your fear by realizing it has nothing to do with anyone else. Other people don’t control your mind. Stop reacting with fear to the anticipation of a negative outcome in your own head. It doesn’t exist in reality but you can create it. You can easily reconfigure mind to expect and attract success. When it’s properly configured to anticipate success, you’ll easily attract positive outcomes. If you were sure your financial success was waiting guaranteed with the next lead, you’d make sure to create that lead and then close them. Do you know what you’ve actually been afraid of this whole time? You’ve been afraid of your own imagination. Now isn’t that bizarre?

A Funny Story How far would you go to quit your job?

I don’t even have it in me to make this story up. This is a true story that always makes me chuckle. At one of the local real estate investor club meetings I met a good friend of mine. At the time, Tom he was already a pretty successful investor. Over a few beers, I asked him how he get started in real estate investing and he dropped this doozie on me. Tom had taken post secondary computer science. For 6 months after graduation he worked at a full time job that absolutely loathed. Just out of curiosity, do you loathe your job or just don’t like it? Well let me tell you that Tom could not stand it.

Because he used advice like the kind I give, in his spare time Tom had invested $5000 in a weekend course from one of the ‘gurus.’ From there, he developed the desire to invest in real estate. The course just wasn’t very practical and I don’t recommend it but it was very useful in giving Tom the motivation to get started so I suppose that was the true value he received. Tom wanted unequalled opportunity away from alarm clocks, traffic jams and trading away his time for money.

He was still human though so he needed to get paid. It’s funny knowing Tom and seeing how much integrity he has to believe that he would do something so damn underhanded. Tom downed coffee after coffee all night Sunday into Monday morning without sleeping a wink. He headed off to see his doctor who reviewed his vital signs. Just imagine the vital signs of a 16 hour coffee binge. He told the doc that he was so stressed out about his job that it was ruining his health. The doctor concluded that Tom was ‘too stressed’ to work at his job. What was Tom’s result? He got six month’s paid stress leave!

Tom learned a bunch more and he pulled off his first deal about 2 weeks later. Tom now owns over $2.5 million in equity channelled through over 100 properties and he still has some time before he hits 30 years old. He is fortunate enough to spend 6 to 9 months of the year travelling and more importantly, he went from full time job to being free. It’s only been about 5 years for both of us before it really all completely changed. It really doesn’t take that long with a focused mind.

So, what’s the point of all that? I don’t recommend you cheat the system but isn’t about time you made a plan to overcome the miniscule pay check your company pays you? You need a plan with detailed information about how much money is enough and you too can quickly dump the J.O.B. (or Just Over Broke)

So if you’re thinking about getting started using part time investing, don’t sweat it. Figure out where you’re going and how to get there. You’ll be pleasantly surprised to find that it will be easier than you think with a major definite purpose in your life.

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