My name is Antonio and not too long ago, I was in your shoes. Let me explain how I overcame it.
Like most of you, I started out by wanting to invest in real estate. Right after I started my first 9-5, I said to myself, I am not doing this forever! I wanted to become financially free. So, I started to pick up Brandon Turner’s book on Rental Property Investing.
While I was reading it, I was super excited to get started! I was like: “Wow this is so amazing!” I am going to buy a few houses, make tons of cash flow, and I will be rich!”
The book was so motivating, that I finished it in a week. (For those of you who don’t know me, I hated reading, I actually failed English in high school, but that’s a different story for a different day!) I noticed that I started telling some of my friends I was gonna invest in real estate, but I never did anything the book said to do.
About a week had gone by, and I had no motivation left. None, every ounce of motivation that the book gave me while reading, was gone. So, I said to myself, maybe I need to read more before I can start investing in real estate. I was convinced that that was the case.
Now, there is a tiny argument for I was inexperienced, and reading more would help me have more knowledge, but that book has so much information in it, that I should have been able to just follow it and get an investment property.
Anyways, I bought the Millionaire Real Estate Investor by Gary Keller, and it was great. So much information, this book took me a few weeks to read. Boy, was I motivated. But once again, a few days when I was done reading, I went back to normal where I was just telling people about it instead of doing it and did not have much motivation to take action. I was fine with just staying at my 9-5.
Long story short, this went on for 4 YEARS! Not months, years. And it was not until I deeply got clear on what my reason was for investing that it got me to take action.
I started asking myself questions like: “What would real estate investing do for me?” I answered with things like: allow me to not have a job and work on my passion, allow me to spend time with friends and family, allow me to control my time, let me live where I wanted, allow me and my family to never have to worry about money again.
That’s when everything changed. When I wrote out all these insanely motivating reasons why, I had a fire in me to get started. I was missing the internal motivation. I had the external motivation from the books I read, the videos I watched, the podcasts I listened to, but that was so short lived that I never acted on it.
Now, the reason why I am here today to tell you this story, is because you need to get clear on why you are actually investing! Most of you say you want financial freedom. That’s cool, but list out all the reasons why financial freedom is exactly what you need!
So, I am a huge action taker, and I am going to ask you to do an exercise that I teach my students to do. It’s called the 7 Levels of Why. Let’s do it together right now.
The truth is, real estate investing is a 5-15 year game. Without getting clear on this, you will not be motivated to take all the action steps you need till you are financially free. Now, I am not financially free yet, but in the last 9 months I have purchased 3 properties with all 7 units in those 3 properties rented. Why? Because of the reasons I listed out before. I am working towards financial freedom for my family, for my financial stability and more.
I act from that place everyday. Which allows me to get more done, and work longer hours (enjoying it) than most people will do. Bonus points if one of your reasons why, gets you crying, because that point, you know it’s extremely motivating.
Without internal motivation, you won’t get very far. Be sure to get mentally prepared before you begin investing. If you have any questions please feel free to reach out to me on BiggerPockets.com.