"Failing in Slow Motion..."

In response to a prior post, I received this question recently: "What is the #1 Difference between people who succeed and people who fail as real estate investors?"

Not only as a "full-time" investor, but also observing others as the person responsible for the largest REIA in my region, I have seen this question asked in 100's, if not 1,000's of similar emails on this topic as well as similar posts at http://realinvestors.com.

I am now coming up on the five-year anniversary of my first deal! It is 100% correct that your first deal is your most challenging (mentally). That is "first investment deal" towards becoming a full-time investor. I still count my first home as my unofficial "first" deal.

During the process of putting that first deal together, I had no clue as to what G-d had in store for me. No concept that 9/11 would wipe out my aviation business, nor that in 5 years I would be involved in so many different transactions, including the apartments and commercial land developments.

No, five years ago, I had a very successful company that had just signed a ten-year deal, and real estate investing was the "new thing" to tackle. I also had no idea that the little "master-mind" group four of us put together at the Atlanta CRE convention would go on to become the largest REIA in Washington, DC and one of the best on the planet (shameless plug: http://www.DCREIA.com).

But "the #1 thing" that sticks out in my mind that made a difference for me, and for the hundreds of people I have seen succeed as real estate investors over the past five-years is attitude. Not in "good or bad", but attitude towards the "business". From the very first minute of the very first day I made the decision to "make it happen" I always took this real estate investing thing "serious". Although it started part-time and to this day remains "part-time", I never looked at it as a hobby.

A hobby is something you do, when you have a little extra time, here and there. It's something you do (in my mind), when you get a "round-to-it". People with this mentality are, in my opinion, FAILING IN SLOW MOTION. They never actually do "find the time", as time is something you have to fight to gain control of, and hobbies tend to be too far down the priority list.

Real estate investing is a part-time thing, but like many other "part-time" things, like going to the gym, or brushing your teeth, it requires commitment. There is never a "convenient" time to make it out to the local REIA meetings, or sit down and go through the course you purchased at the last conference. But time and time again, the difference is clear between those who succeed and those who fail. Those who succeed are also given only 24 hours in their day, but they commit to investing some portion of them to putting in play the things they see other successful investors do, or read about in their course materials. They understand that if you are not moving forward in a deliberate and dedicated manner, you are simply "going through the motions" and ultimately, "failing in slow motion".

I guess that works for some people - That is, "failing in slow motion". But if I am going to fail, my attitude is that it is better to get it over quickly. Either something works, or it doesn't! Give it a fair chance to work, but if after a reasonable time and reasonable effort nothing happens - "Fo Get About it!" I do not have years to "play with anything", other than golf - now that's a hobby.

Most people, when they get up in the morning, brush their teeth - "no matter what". When I am really doing well and in the zone, I get up and hit the gym - "no matter what". And I have achieved what I have achieved (along with many others over the past five years) in real estate investing, because of the grace of G-d and an attitude from day one that I was hitting my real estate investing goals - "no matter what".

Call it persistence, call it determination, but no way am I ever interested in anyone's program of "Failing in slow motion" - life's too short.