Everyone has a vision of fortune and a dream of riches…and 95% of Indians have excuses as to why they haven’t yet achieved either. Investing in real estate is no difference. Most Indians recognize that all wealthy people own real estate, therefore, the secret to becoming wealthy lies in real estate. So, why do so few people take action? Here are the top 7 Real Estate Excuses we hear people telling others or the experts for not taking action in their desired career.
Top Real Estate Investing Excuse 1 | Have-to-be mentality
When I have the money, I’ll do real estate investing, and then I will be wealthy. This ‘have-to-be’ excuse plagues more Indians (for people across the globe) psyche now than any flu epidemic possibly could. If you condition your thinking on having to have the money in order to take action and you don’t have the money to take action, then you’ll never have the money to take action! Consider this secret that most self-created millionaires figured out: reverse ‘have-to-be’ with ‘be-to-have’. I will be wealthy because I do invest in real estate and I have all the money I need. This simple and easy to follow change in philosophy will help you in conceiving the millionaire habits, which will eventually lead you towards your prime goal, The Wealth Creation.
Real Estate Investing Excuse 2 | I have no money
“I like the first solution, but I am not making excuses, I have no money.” Okay, we believe you. So, your next step should be finding someone who has money. If you find a potentially profitable transaction, the money will find you; or at least those with money will find you. Plus, there are investing strategies, such as wholesaling, that will allow you to profit from such relationships without using any of your own money or credit.
Real Estate Investing Excuse 3 | I have no time
Finding properties isn’t necessarily as time consuming as you think. Do you go to work every day? Leave 30 minutes earlier, take a different route, and cruise different neighbourhoods on the way to work and write down addresses to new properties or under construction properties. If you’re picking your kids up from school, do the same but have them write down addresses. Finding a few minutes each day to survey an area will not take up much time. In addition to that, there are other places, people and services available that you can outsource for achieving the same yet quick results (especially if you have children). Finally, if time is your biggest issue, unplug your T.V. and you will find a couple of available hours for your business.
Real Estate Investing Excuse 4 | Too much competition
I live in NCR, and Noida is one of the top commercial markets in the NCR! This also means that there are probably 3x the properties that are available for possession every month. So, if there is too much competition, why are all these properties lying vacant with the developer? Other investors, the real estate market, and the economy needs more people finding, buying, and selling already constructed properties to get this great industry back on its feet again.
Real Estate Investing Excuse 5 | But the real estate market is falling
The secret to making huge in real estate industry is to buy low and sell high. Right now, properties are on sale. Prices are projected to appreciate in the coming times. Buy properties available at low rates and resell for a profit using either traditional or unconventional methods.
Real Estate Investing Excuse 6 | I don’t know the unconventional methods
Consider the possibility that these unconventional methods do exist. Now, once you’ve considered these possibilities, go out and try to find how to learn about these. Search online, buy eBooks, read articles, join real estate forums, and go to networking events at your local Real Estate Investing Club. If you haven’t learned about creative real estate acquisitions, then you just haven’t put yourself in the right situations yet to learn. If you adjust your reading and networking habits, then you will adjust your knowledge.
Real Estate Investing Excuse 7 | I don’t know how to get started
Most people procrastinate in area where they don’t understand something or fear rejection or fear making mistakes. Therefore, knowledge and education are a great way to begin overcoming these fears. Also, networking with experts or seasoned investors who are experienced and successful in real estate will help you see how realistic profitable investing can be. Take a series of small steps in educating yourself and you will overcome your fear of failure.
If you are still hesitant or have doubts regarding real estate investing, leave your queries in the comment section and we will rectify it as soon as possible. We will help you with anything and everything that is keeping you away from your dream commercial property ownership.