No Focus. No Money.Oct 11, 2021
Have you ever met someone “who does it all” in real estate? They fix & flip single-family homes, buy/ renovate/ rent & refinance multi family projects, develop land, buy mobile home parks, AND run a wholesaling business on the side? We all have.
Some real estate investors tell people that they (fill the blank with ALL the different strategies and asset classes you can think of) to sound impress and accomplished…
If someone starts telling me what they do and it begins to sounds like it’ll just keep going on (like the list of credits from the movie Titanic) my eyes glaze over and my mind wanders.
Seriously though – ask any seasoned real estate investor (or business owner for that matter) what it takes to be incredibly good at what you do. They will all tell you focus.
You can’t be killing it in multi-family if you’re busy flipping houses. You won’t be the king of mobile home parks in Georgia if you’re looking at retirement homes in Phoenix.
Michael Jordan was a god on the court yet barely made a dent playing pro baseball. Incredible athlete all the same but who would have remembered him if he didn’t dunk?
The point here is that you might be good at a few things but you’ll never be truly great until you focus on one thing until you dominate.
One strategy, one asset class and one market.
Become the expert. Become the person people look to. Be the person that when you speak – people listen.
Once you have that figured out and have built a track record you can expand your strategy, asset class or market – slowly and make sure you never give up your focus.
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