The Blood, Sweat and Tears of Real Estate Investing
Last summer I read an interesting book by author Malcolm Gladwell called Outliers. The book explores the environment and historic influences which contribute to behavior outside of the mainstream. Gladwell’s engaging storytelling exposes some of the secrets behind the success of Bill Gates, Robert Oppenheimer, and the Beatles. This book introduced me to a new concept which has effected both my personal and professional life.
You may, or may not, have heard of the law of 10,000 hours before. The concept states that 10,000 hours of practice, study, and hands-on application is required to become an expert at any given pursuit. One of my favorite parts of Outliers is the way the author displays this law in the lives he dissects throughout the book.
In some of my past articles I have mentioned my newly found love of the martial art Jiu Jitsu. It is challenging and plays into my competitive nature. The sport is also something new for me. These past few weeks have yielded results that are frustrating and sometimes painful. In this way my newest endeavor reminds me a lot of my Real Estate investing career.
If you’ve just started getting involved in the Real Estate investing world, you’ve probably experienced some initial frustration. My initiation into the industry included buying a property at the wrong numbers and dealing with a thieving contractor. Most investors share similar experiences. But what we’ll also tell you is that this industry is exciting, fulfilling and very lucrative.
Monday night I had a breakthrough in my Jiu Jitsu training. My training partners stopped treating me like a beginner. The honeymoon was over. I left the session with a sore knee, stiff neck and busted lip. At that moment I remembered one of the lessons I’d taken from Outliers.
I want to be exceptional at Jiu Jitsu, but I know it will not happen overnight. The bumps and bruises, setbacks and frustration are all parts of the learning process. They are essential for growth. Each hour I devote to training is another step closer to the 10,000 hours required to reach my goal.
As you strive to grow in your Real Estate investing pursuits, do not be discouraged by the setbacks. Always remember that every busted lip brings you one step closer to being at the top of the game.