By Mike Baird
If you talk to anyone who knows me well, they’ll tell you that I’m passionate about real estate investing. They might even say that I’m a little obsessive. What can I say? I like finding great deals, and I love rehabbing rundown houses and turning them into gorgeous homes that people are excited to buy. As a result, I’m pretty much always thinking about my real estate business and how to improve it. So much so that, when I started going to the gym and getting in better shape, I couldn’t help but think about the parallels I saw between my workouts and growing my business. So how is going to the gym like flipping houses?
It’s a Little Scary at First
First, if you’ve ever walked into a gym on a busy day, you’ve probably seen some really fit people. There are the men and women in the squat racks who look like they could crush you with a single thigh muscle, the ones with the rock-hard abs who you swear have never eaten a single carb in their lives. Seeing them makes you painfully aware of how small your muscles are and how much fat you’re carrying around.
The first day in the gym is a lot like the first time you go to an auction, the first time you look for a contractor, or even the first time you go to a real estate networking event. You see all of the work you have ahead of you and how much experience these people have—and suddenly you feel like you’ll never be able to get ahead in this business.
Set Short-Term Goals and Be Consistent
Just like working out, if you focus on everything you have to accomplish to reach your long-term goals, you’ll go crazy and want to quit. Instead of turning around and walking out the door because you can’t bench press your body weight (or because you lost a property to a higher bidder), focus on what’s in front of you and what you can do right now.
If you aren’t ready to start buying and flipping houses yet, focus on your real estate education and what you need to know when you do start. Whatever you do, be consistent and don’t give up. Just like lifting weights or running a mile, the more consistent effort you put into flipping houses, the more you’ll get out of it and the more quickly you’ll progress.
You’ll See Progress Before You Know It
While you may not be one of the biggest bodybuilders in the gym or the biggest name in real estate investing in your area, if you don’t quit and you keep working at it consistently, you’re going acquire more and better properties at a much faster rate than you ever thought you could when you started. Just like noticing more definition in your muscles and less fat around the middle, you’ll notice your business growing as you make more connections and learn to spot and pursue great deals.
You’re Going to Have Setbacks—But Don’t Give Up
You’re going to have bad days, and you’re going to have “injuries.” In the real estate business, some deals are going to go south no matter what you do. Sometimes you’ll go through all of the leads in your funnel and you won’t get a single bite. I won’t lie; just like lifting weights or doing cardio, you’ll have some really great days flipping houses and some really frustrating ones. Real estate investing is all about sticking it out for the long term. If you don’t give up, you will see a lot more good days than bad days.