Watch out. Here they come. The parade is about to march on by.
You are about to be barraged with another round of real estate promises, profit projections and programs that “are sure to make you rich.” Yes, you’ve heard it all before, but today is different isn’t it? Now, this time, because of the recent recession and drop in prices, it will really work. Now is the window you have been waiting for. Right? … Wrong! The recession happened for a variety of reasons. And those reasons still exist.
It has been said that life is a wheel and that what goes around comes around. That’s true. But, it is important to recognize that life is not only a wheel, it is also a parade.
Every time I see another “remake” of an old movie I saw as a kid, I have to wonder why the producers are not smart enough or creative enough to come up with something new. Sadly, the fact is, they don’t need to. So it is with those that promote the promise of real estate profits. Like it or not, the same old promises that sold programs 10, 20 or 30 years ago still sell today. Not because they really work, but because there are a whole batch of new buyers that just don’t know any better than to buy. Thirty years ago it was me and my friends. Today it is our kids. In the relatively near future it will be our grandchildren. The parade will continue to march on by with new participants, and they will once again spend unbelievable amounts of time and money on the proven failures or the past. Despite their self proclaimed altruism, the promoters that sell these programs obviously find it easier and more profitable to sell the promise of real estate riches than to actually produce it themselves. If they really knew how to do what they claim, they would be guarding that secret in Fort Knox. Not selling it to possible competitors as part of a magical coaching package.
The facts are simple. Just like a holiday parade, at the appointed hour, you can expect the marchers to trudge on by with bright colors and big smiles. While the clowns wave enthusiastically to the crowd, there will be wise and prudent real estate professionals who will watch the parade go by, while quietly amassing amazing amounts of real estate wealth. That is the nature of the business. So, is it even possible for you to make money in real estate? Of course it is. But you will have to do it as a professional. The men and women that capitalize on real estate have always shared important traits with their successful predecessors. Knowledge, intelligence and hard work.
So if you are serious about making money with real estate, here’s my advise. “Finish your homework, know the market and do the math.” The benefits for those who pay the price are amazing. On the other hand, if you don’t want to pay the price in time and effort, you can jump in with both feet and find real estate to be an easy business. An easy business in which to loose huge amounts of money. Here’s wishing you success.