Unfortunately, the weather – when it comes to real estate investing – is pretty tough. The vast majority of real estate investors get chewed and spat out before Macedonia Phone Number they even know what hit them. More than 87% according to some estimates. Because of the low barrier to entry to start a business. It requires virtually no capital to get started…and you can read a book today, register a business tomorrow, and be a “pinball” or “wholesaler” by the end of the week…which is AWESOME , but that also makes things easier for many people who haven’t fully embraced the mindset and skills needed to successfully run a business.
Failing investors tend to open their portfolios based on emotional decisions rather than nailing down their numbers and trusting the numbers. When emotion takes over, you tend to stop investing in marketing before it has a chance to succeed…you tend to make offers based on your “gut” versus a proven formula…and you tend to bounce from one thing to another in search of that magic ball like a pinball machine. One of the ways people constantly get emotional about numbers is the amount of money you invest in your business. How much money you invest in a marketing strategy.
How much money you invest in a property. How much money you invest in your education. As soon as emotion creeps into the equation and a mathematical.So they end up spending $800 in those first 3 weeks. They have 7 leads to show for this, which they are working on… but no agreements yet. By week 4, their campaign is a bit more refined, but they’ve spent $1,250 of the $2,000 they had set aside…with a total of 10 leads. Totally disgusted, they start thinking, “Man, maybe PPC isn’t for me. I’ve already gone through my budget, let me stop this campaign and find something else”. With that, they stop their campaign and call it a “failure” and a defeat. $2,000 in the hole and now “focus” on a new strategy.