From Real Estate Niche to Real Estate Niche and getting nothing done.
Watch Here------> Shiny Object Syndrome
This was a difficult podcast to record, It took me a few weeks to decide if I wanted to go forth with it.
Whether it's called procrastination, or like I say "Shiny object syndrome, it took me years to decide which investment niche I wanted to get into, in the podcast I talk about how I jumped at different investment vehicles before I decided enough is enough, pick something already!
Why Did I think I took so long?
Could be that I was trying to find an easy way to invest in real estate, not knowing whatever niche I wanted to get into was going to be hard work regardless.
I also thought maybe I had fear to invest in something I don't know, so I would pick different strategies, but the problem was I didn't finish anything, I would start with let's say Wholesaling, I would get books, look at video's, talk with other wholesalers, then boom! I saw tax liens, and I wanted to get into that niche, and on and on it went for years.
What finally caught my eye?
Two things caught my eye! first I decided that until I made up my mind on what strategy I wanted to finally get into, I looked at Real Estate stocks, in particular Reits= Real Estate investment trusts.
I said to myself, I don't care if investing in real estate stocks is not investing in brick and mortar, I followed Warren Buffett's model of stocks are investing in a business, you own a part of that business.
Finally I found what I wanted to invest in, Creative financing! a friend of mine sent me a video of a investor who buys property with cash, could be his own, or someone else's and sells them to other investors, or future homeowners by accepting monthly payments until paid in full.
Conclusion
The point I'm trying to make is pick one subject and stay with it until you become an expert, then outsource that part of the business, and go on to the next endeavor.
A book I recommend is The One Thing by Jay Papasan, the book is about having fewer distractions, like email & texts, etc, and concentrating on your choice of vocation.
Here is the Podcast, hope you enjoy it. Thank you
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Keep the momentum going, Good things will happen.
Thank you for watching.