CHALLENGE #2 I DIDN’T TAKE ACTION FASTER!

Did I ever experience a time of procrastination or analysis paralysis?

Definitely! This was one of the areas that I had to improve even while

learning and seeking out knowledge whether in a book or at my local real

estate investor association (REIA) meetup. I would just say - consume,

consume, consume. I bought my first house, which was a primary residence on

November 2006. I didn't buy another property until January 2011. So even

though I was consuming all the information and learning about real estate

investing, I still was kind of going along. I was doing really well in my career

and focused on my Air Force duty.

However, I was still intrigued by real estate. I was learning by reading a lot of

books and going to the meetups, but I wasn't taking action. One of the reasons

is the “procrastination” piece. Looking back, there was so much I could have

done a whole lot sooner in my journey than I could have accomplished. I had a

goal to purchase $10 million in real estate. But if I had started taking action a

whole lot sooner, coming out of the 2008 crash and taking advantage of that

opportunity from 2009 to 2012, who knows where we would be?

Regardless, I don't have any regrets nor would I change any of the challenges

and lessons learned along the way. But when I look back, that's something I

tell my coaching mentees and every new investor that I meet, buy real estate

and wait, don't wait to buy real estate.

Don't be like me - start sooner, start today!

When did I realize that I was ready to get my next property?

It was a slow process. The next couple of houses were all houses that I

moved into during PCS’s or job changes. Being in the military, we move

around every three or four years. I bought a foreclosure in 2011 in Newport

News, VA, then I bought another foreclosure in 2013 in Northern VA after taking

a job at the National Reconnaissance Office. After that, we picked up a couple

of true rental properties in Birmingham, Alabama, that weren't houses that we

lived in. It wasn’t until 2015 that I actively started flipping houses and building a

business around that strategy. It really came down to a situation where I felt

like I had so much more potential. Although I was doing really well at

managing contracts with the government and in my career, I still wasn't

feeling completely fulfilled. I knew that I needed to do more because my wife

wasn't working. We made the decision that she would stay at home. With that,

I was like, how can I generate more income? I love real estate. I realized I can

start taking a more active role and building a business. So in 2015, we made the

decision and took the leap of faith to find our first project. Ever since that

moment of action, the wheels on the bus have been rolling. From single-family

investment strategies to buying value add multifamily.

“YOU HAVE TO TAKE RISKS.

WE WILL ONLY UNDERSTAND THE MIRACLES OF LIFE FULLY WHEN WE ALLOW THE UNEXPECTED TO HAPPEN.”

- PAULO COELHO

What do I think is the #1 reason why people fail without even trying?

We’ve talked about mindset as the first challenge. In addition to that, is

being able to set SMART goals that you can achieve. Set goals that are going to

stretch and push you to make you come out of your comfort zone to do more.

Then, constantly reassess those goals and when you attain them. Continue to

move the mark and then not become complacent. I think that the biggest

piece is when you start becoming complacent, where nothing good is going to

happen.