"Why Real Estate Investing is Like Flying to Sringfield (Columbus)..."

I have a good friend who is a professional pilot.

This should not come as a surprise given my background, but Pete and I actually met after the events of 9/11. His son started coming to our real estate investor club meetings while still a senior in High School.

Like any good parent, Pete came once to "check this thing out", and before you knew it, he had turned himself into a professional pilot AND real estate investor.

We were talking a few weeks ago about the parallels between real estate investing and getting a plane off the ground. He should know, not only is he a successful rehabber, but he flies 767's Jumo's across the Atlantic for a major carrier.

What is striking is what Pete shared with me, which is according to Pete, "...there are many, many things that need to come together before a jumbo jet can take off…and then it’s ready! The pilots have the controls and the plane is cleared for take-off. The sole focus now are the pilots at the controls and power of the engines producing 103% of their rated thrust for take-off. 103% you might ask…how is that possible…it’s possible because the effort to get the jumbo into the air is not sustainable…can you see the parallel for real estate investing…it takes a 100+% effort to get your dream airborne and once airborne the effort can be relaxed. Once a jet is clear of the immediate obstacles…the thrust can be reduced to the 96% range…the faster the jet flies and the higher is climbs…the less energy is required to keep it there…once cruising the thrust can be reduced to 75% and the pilots can relax…and the flight attendants can now begin their work and take over the effort…can you see any parallels yet? In the course of getting a jet going…there are many team members participating…while some are busy, others are waiting for their turn to participate. Everyone in the cabin is face front and totally involved in take-off.

There is a ton of great advice in that one pragraph. But the thing that struck me on the way to Springfield Ohio yesterday is that EVERYONE is engaged in the successful (I'm really not that interested in participating in any other kind) take off of an aircraft.

Once the door closes, cell phones and electronic devices get turned off, everyone faces front and is in their seats - fastened in. Going down the AOA (sorry, getting technical here, going down to the taxi ways) the flight attendants take their seats and strap in. As Pete indicated to go from zero to 10,000 feet requires 103% of available power, and from zero to 10,000 feet, everyone is facing front and fully engaged. At 22,000 feet the aircraft engines are still at 10#%, but the flight attendants now get up and start serving, and most of the Game Boys(r) and other electronic dudads have already been on since 10,000 feet. And at 30,000 feet, the pilot reduces power and let's folks start walking around.

The point of all this is that regardless of what real estate strategy you intend to deploy, wholesaler, rehabber, lender, it takes complete concentration and effort (Oooooh, he said the "E" word), yes effort (as in learning and doing) to get the plane off the ground. It will require the assistance and dedication of others - even the ground crew has to be "on board" in helping to get the flight ready. Someone has got to get the "garbage off the plane", and get the old baggage off and the new baggage on!

And most important, regardless of your final destination, Springfield, Ohio, or Honolulu, HI, we all get the planes off the ground using the same techniques, systems, check lists and 103% of effort, then once you hit that cruising altitude, you can then throttle back, relax and take it where you want to go...