Is investing in Real Estate for everyone?

Is investing in Real Estate for everyone?

I get quite a number of personal emails from DGers and am always happy to give some advice or muse a bit - I do not charge anyone for any thing which does 2 things: is respectful to Dean and his folks that provide this venue and gives me the right to be honest and straightforward. I had a conversation this week with a lady from Northern California that read one of Dean's books, saw an interview I did with Dean and wanted me to tell her she wasted her money on the book, Dean's products are useless and there is no future for her in real estate investing.

Here was my response to her and perhaps it is for others as well. Education is expensive and there is not always a direct payoff for the expense but what she learned reading Dean's books could help in any form of business, not the least of which is purchasing her own property - and face it Dean's books alone are not the $150 you pay for a college text written by the teacher that you rarely will use in the class. They are very inexpensive and provide solid proven techniques. Will each thing work for each person? What do you think? If any one technique works for you or stimulates you to be prepared to think of other ways of making money in real estate, then that education paid off.

Here is the bigger picture. I have a bachelor's degree in Criminal Justice and yet I am no longer a police officer nor do I engage in any work related to that field, but it did prepare me to go to graduate school to get a master's degree in Counseling - can't get into graduate school without a bachelor's degree in something. The master's degree in Counseling has no direct impact in my real estate business but it helps me think more broadly, find things in common with others, be familiar with various personalities and things that drive people to make decisions, etc. If I knew when I was 20 or 30 that at 50 I would be selling and investing in Real Estate would I have taken those studies? - not likely - but it all adds up at some point. The things we do make us who we are and who we are gives us opportunities for success.

At one point in my life I worked in a community college. The great majority of those in community college that complete a degree in Automotive Technology, Cosmetology, Welding, Drafting, etc, do not make a living doing the thing they studied. Did they waste their time or the public's money that funds the college? I think not. The guy with a Welding degree might be working in sales and he knows what type of metal to sell to what company because he welded for a while. The girl that got her Cosmetoloty license might not cut hair but she may work in other business endeavors, having learned business functions taking Cosmetology classes.

For those not having luck in real estate after reading a book you bought from Dean or anyone else - be glad you have more insight now than you had before this current learning experience. Use one of the techniques you studied or be creative and make your own road, having traveled (in your mind) the roads blazed by others you have studied. You cannot buy a book for a few dollars, read some of it and wonder why the bucks are not rolling in. If it were that easy, others would be out ahead of you getting the dollars off the street or wherever they fall. Roll up your sleeves and invest some time and it might pay off in real estate or in something else, but you can not sit back and wait for it to come to you. Publisher's clearing house only brings a fortune to one person per year - most likely it will not be you or me - we will have to work for it.

If you purchase a book about real estate investing and read a couple chapters and wonder when the check will come in the mail, you likely think the exercise bike in the corner of your garage will trim those unwanted pounds. Success in anything takes some risk, hard work and persistence. Pull the book out of the pile of stuff on the floor of your bedrooms, read it all the way through and buy something this year.


Bill O'Rafferty
Trademark Realtors

Syndicate content