Is Real Estate Investing The Path To ‘Fast & Easy Money’ Or Is that A Myth?
More real estate gurus than ever are throwing their hats into the ring with promises of fast and easy profits, but is this all just a myth? Is real estate really a viable path to quick and easy money?
The real estate hype is fueled by the popularity of reality TV shows like “Flip or Flop” and “Love It Or List It.” Certain people have made it big in real estate and made the earnings look is easy, but is that the truth? Is there fact to the promises of big money to be made in real estate or is this only fiction?
Fast & Easy Real Estate Trap
It’s true that you can make a lot of money in real estate. Just look at Sam Zell, Herb Simon, or Grant Cardone. You can begin investing in real estate with no money and no credit. My life and career is a prime example of that. You might be surprised to know that I actually started in real estate with negative money in the bank. If I can get to where I’m at and reach my goals, you can as well. Yet, to call it “easy money” is misleading.
You will hear from some individuals — who have made their big break in real estate — that their journey to wealth was ridiculously easy. Others will say the exact opposite. They lost everything on their first rehab project. They’ll emphasize that it was really, really hard! Why is there such a dichotomous view of the same industry? Well, it depends on your perspective.
Your Vantage Point = Your Advantage
How difficult or easy you perceive real estate investing to be is dependent on:
- How you do it.
- Your perception.
There are a variety of ways to invest in real estate. What may be fun or easy for one person may be a nightmare for another? You could be the type that loves tearing buildings apart and putting things back together. Or, you kill it with difficult tenant issues or sail through cold calls. Some individuals enjoy office time at a regular day job and choose to pay someone to handle all their investments. Making $5,000 a month wholesaling houses feels like winning the lottery to you, but someone else considers a ten-thousand dollar deal to be spare change. Your first task is to determine where you thrive. Successfully profiting from real estate investing can take hard work, dedication, money, and time. It can be both stressful and rewarding. Some make the work — and the work lifestyle — play in their favor. Others simply can’t cut it.
Real Estate Rewards
Regardless of what you choose to focus on as a real estate investor, there are rewards to be had. Whether you decide to take up real estate investing full-time or decide to go for it as a side-gig, there are possibilities and opportunities to make a significant amount of income. Real estate is a multi-billion dollar industry, and most people cannot even comprehend how much money is to be made in real estate until they jump in for themselves. Most investors make more in one week than the average American makes in a year.
If you rush in without understanding what you are doing or have mentors in your circle to help and guide you, the journey will most likely be littered with costly mistakes. Remember to take to do your research, study, and learn. This will be of great value and assist you as you work towards long-term success.
When Work Feels Easy
The rewards span more than making a profit but include tax benefits and schedule flexibility. Also, finding your passion and doing a life work that is rewarding is often of greater value than money itself. This doesn’t mean that real estate investing is not “real work” at times. You will have to work hard, but you will deem your work “worth it.” In my life, my career is a lot of hard work, but I love the real estate world and I love helping people. Real estate is an avenue that allows me to thrive and consistently demands that I step up and bring my best to the table — every single day.
No matter what life path or career direction you take, there really isn’t a way to achieve “fast and easy” profit. As the saying goes, “All things worth having and keeping are worth working for.” Create life goals and dreams that allow for incredible amounts of success. Do work that does not feel like work. Continue to better yourself every day to the point that you flow into success. When this happens, the money that you make in real estate will feel like it was “fast and easy.”