Are Your Roots Planted Firmly?Posted on May 25, 2011 by
David, a seasoned real estate investor, has been stuck in a rut and wanted to talk over his situation. Like many folks, he has yet to get back on firm ground since the real estate bubble popped in 2006.
When I asked him questions regarding how many sellers he talked to each week or how many real estate investor meetings he attended each month, he answered, “What’s the point? The real estate market is dead!”
And there was David’s problem. When the market collapsed, he essentially climbed into bed, pulled the covers over his head and decided not to come out again until the 2005 real estate market returned.
Here’s the thing: The 2005 real estate market will never return – it wasn’t real! It was a market that was built on a foundation of speculation, fraudulent lending, idiotic mortgage terms and greed.
In talking to David, I learned that he watched a lot of cable “we’re all gonna die” news. He also read a lot of stories about the bleak economic forecast. Finally, he spent hours on the phone with his real estate buddies who had gone belly up.
I told David, “I know your problem. Man, you have an acute case of Stinkin’ Thinkin’! Not just that, everyone around you has it too!”
David asked how Kim and I stay so optimistic. Easy answer: We spend a lot of time around positive, like-minded people. For example, in April we were in Saint George Island, Florida with the Trailer Park Kings. In early May, we were in Kentucky with the Real Estate Masters.
In addition, so far this year, we’ve attended four real estate investing seminars and about 18 REIA (Real Estate Investor Association) meetings. The point is, when you’re continually around people who are surviving and thriving in this market, you believe you can, too. It’s that simple.
I said, “David, it will be easier for me to SHOW you your problem.” We got in the Dodge diesel and headed down the mountain. At the base, alongside the road, is a steep incline. There’s a big tree on the incline. Over time, rainwater has washed away a lot of the soil around the tree. The tree leans downhill and many of the tree’s roots are exposed.
“What’s gonna happen to that tree?” I asked. David said, “It’s gonna fall over.” “Why?” I asked. After some thought, David said, “Because the tree has really weak roots.”
I just looked at David. Slowly a smile of realization appeared on his face. He said, “Right now, I’m like that tree. If I don’t get my roots firmly planted into some good soil, I’m gonna fall over.”
Folks, learn from David. Stop watching “If it bleeds, it leads” TV news shows. Be sure to hang out with folks who are on a mission to succeed. Stay away from the Stinkin’ Thinkin’ and replace it with “Yes I can!” thoughts…and go out and meet with some sellers!