Necessity is the Mother of Investing
This business carries risks, and requires lots of work (at first anyway; I've been at it for over two years as of this writing and it’s still a lot of ’round-the-clock work). More than constant education and networking within real estate circles, it also requires management of various areas of one’s life that may be swept under the rug ordinarily: monitoring, repairing, and maintaining personal credit score; building business credit; setting up entities; estate planning, intense study of national geography and how markets are functioning at any given time, and relating to other people as potential business partners in addition to whatever else they are.
Not “needing to invest,” I believe, is the single biggest factor that causes new wannabe investors to fail, stall, or decide after their first so-so or bad deal that it’s too hard and go on with their lives, all the while complaining that extra money would really help them.
I believe my success lies first and foremost in the fact that I had no choice but to go for it. I was broke, in major credit card debt, injured, and in danger of losing my home. While my situation was extreme, it could have been a necessity of attitude just as much as personal circumstances. Acknowledging that I'm in my 30s, working at jobs had not improved my financial position, and had to make things happen instead of letting things happen, went a long way towards shaping my rather aggressive financial goal-setting. It doesn’t happen all at once, but it does happen. For me it has been a matter of hitting many bulls-eyes that get progressively larger. It hasn’t been easy, although much more satisfying than letting others determine my future.
If you don’t decide your life, others will do it for you, but it will be to suit their needs, not yours. That’s how so many employees are influenced to continue to work at jobs they hate. If you decide you need to invest, you will be required to take risks that will be outside your comfort zone. But with determination and persistence, it can pay off handsomely. Good luck!
About the Author
I'm Shannon Gunderson and I'm a professional real estate investor, artist, writer, and more. In over two years of being "unemployed", my partner Jonathan van Clute and I have invested in residential real estate in 8 states and have bought more houses than we ever dreamed of. We are creating the life we have always wanted and will never again be at the mercy of a paycheck. We love to help teach what we do, which is why among other things I write on our blog. I love to get feedback, and would be happy to hear from you!
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