Humans are excuse machines. It’s true—it’s how we’re wired.
One of the core tenets of Freudian psychoanalysis is that we, as humans, instinctually seek pleasure and avoid pain. And while the pursuit of pleasure—generating wealth, making seven figures in real estate investing, saving enough to take a luxury vacation—may seem like the most compelling force on the planet, it’s not. Because we’re actually more motivated by pain avoidance than by pleasure seeking.
The fear of pain—failing, falling short, wasting time and money—holds us back, and keeps us from achieving countless goals. And so we make excuses that prevent us from even trying. We come up with reasons not to take a chance so we’re never in a position to experience pain along the way. Our path—the 9-5 grind, the overstretched budget, the crazy hours—isn’t great, but it’s the known entity. Any pain in that journey can be anticipated and mitigated. But that other path—the one that could lead to tremendous wealth, happiness and success—is unknown. And pain could be waiting right around the corner.
But, with some strategy, hard work and a commitment to success, tremendous pleasure is likely where we’ll land. But only if we could mentally get past our fears and stop making excuses…
Turning OFF the self-doubt
Although I talk about this in depth at my NVREA seminars and workshops, I still hear the same excuses over and over from amateur investors and seasoned real estate pros alike. Countless students find me at the close of these events and share their stories, explaining why they’d be on board but…
And then the excuses start.
They’re too old.
They have no cash—like, NO cash.
They can’t afford to quit their job.
This isn’t the exact right time.
The list goes on and on.
Each time I listen and nod—not in agreement, but in understanding. I get it. I was there, too. But, to me, there’s no excuse for not diving in head first into what could be the most profitable, positive and exciting experience of your life—the experience that could define your life, your future and everything that comes next for you and your family. What could possibly stand between you and THAT?
The top 5 excuses—and why they don’t matter
More often than not, my response at least gives the excuse-filled student pause—and, almost always, I hear from them months later once they’ve taken those first few steps in real estate investing. It’s extremely gratifying.
But in listening to their stories, and more importantly, their excuses, the same five seem to bubble to the surface over and over again. So I’ll save you the trouble of tracking me down at an event. Close your eyes and think about what’s holding you back from real estate investing right now. Then open them, and without reading on, jot down whatever comes to mind.
Got your reasons? Now read on and see if the reasons I’ve listed below match any of yours. Chances are, at least a few may ring a bell…
#1. I’m too old to change careers/investing strategies
This one is simple: you AREN’T. Real estate investing is a young person’s game—and it’s a not-so-young person’s game. It doesn’t matter if you’re just out of college, a retiree, looking for a second career or aiming to spend more time with your growing family… because anyone at any age can be a success in this industry. It takes passion, ambition and an entrepreneurial spirit—and that can be anyone who’s 22 or 82.
#2. This isn’t the right time
So if not now, then when? When you have stacks of cash lying around, ready to invest? Because chances are, without a game-changing investment strategy, you’ll just experience more of the same on the professional and financial fronts and never have stacks of cash to invest. And, while you’re waiting for that mythical “right time”, you’ll miss out on all the opportunities happening right now.
Even if you’re truly slammed right now—work, family, other commitments—you can still dip your toe in the water and keep an eye out for great deals. Tackling a single investment property could mean a few hours of work for tens of thousands of dollars in upside. Is it really not the “right time” for that kind of opportunity?
#3. I don’t have the money to invest in real estate
I’ve literally written the book on this very topic, plus countless posts and articles. Many new investors have limited experience in the real estate industry and equate the investing process to the home buying process. While you are technically buying property, it’s not the same as buying a house to live in. This is a completely different process with completely different rules of engagement. And one of the biggest differentiators is that you can often get capital and other private investments without outlying any personal funds towards the purchase or rehab work.
Between hard and private money lenders, investment accounts and other funding sources, you’ll likely be able to drum up the cash you need fast, and close deal after deal with little or no out-of-pocket investment. And if that seems like too big of a mountain to climb, there’s always wholesaling—you literally need no cash for most wholesaling deals, and can still walk away with thousands of dollars in revenue just for spotting and flipping great deals.
If you want to invest, are committed to the success of your real estate business and have a solid plan in place to connect the dots, then you can get the funds you need. Trust me. I’ve done it more times than I can count.
#4. I don’t know where to find the deals
Again, I’ve written a lot on this topic. In short? Wholesalers and real estate agents will be your “go-to” for the life of your investing career. I rely on these sources for about 90% of the deals I invest in for a reason—they’re pros and can streamline and simplify the process every step of the way. Sync up with a wholesaler—a quick Google search and reference check should yield at least one or two good ones—and an investment-focused real estate agent and get to it. As long as they know you’re ready to invest now, they’ll gladly guide you towards quality properties and help get the deal done. They only get paid when the deal gets done, so ensuring your success is in their best interest.
#5. I can’t do this!
If not you, then who? What made me particularly suited for real estate investing sixteen years ago? Or my recent graduates, who are making tens of thousands or even hundreds of thousands of dollars within their first few months post-Academy?
In a word: nothing. We weren’t real estate gurus who came to the table with decades of experience. We weren’t wealthy investors with the cash on hand to fund any and every deal. We were just like you. The only difference? We stopped making excuses and believed we could do it. And you can, too.
When I started in real estate investing, I had countless excuses ringing in my ears. But then I adopted a Real Estate Investor Mindset, a mindset that steered me towards success. With the right mindset, I knew I could achieve anything. Were there bumps in the road? Sure. You’ll have some bumps, too. Those bumps, though, are no excuse to turn your back on the power of real estate investing.
If you believe in yourself and in the power of your passion and ambition, you will succeed in this industry. I’ve been there, I’ve done it all and I have helped more than 150,000 students at NVREA do the same. And now it’s your turn. It’s your chance to be a success and to make the most out of this moment in time. I’ll be here supporting you along the way—and if you need more guidance, you’ll always find it at NVREA. Check out the latest seminar schedule and sign up for a local workshop. Then stop making excuses and dive in.