Barriers to Success (by Ray-N-Pa [PA]) Dec 6, 2022 1:26 PM|
Barriers to Success (by myob [GA]) Dec 6, 2022 2:09 PM
Barriers to Success (by DJ [VA]) Dec 6, 2022 6:47 PM
Barriers to Success (by 6x6 [TN]) Dec 6, 2022 8:04 PM
Barriers to Success (by Ray-N-Pa [PA]) Dec 7, 2022 8:43 AM
Barriers to Success (by T [IN]) Dec 7, 2022 8:50 AM
Barriers to Success (by myob [GA]) Dec 12, 2022 6:32 AM
Barriers to Success (by Ray-N-Pa [PA]) Posted on: Dec 6, 2022 1:26 PM
So often I get the question thrown my way - Ray what do you do IF you get a vacancy.
Well that isn't a real question at all. The answer isn't IF but WHEN you get a vacancy. Now that isn't why I am posting this - nope that example shows that we as investors have installed barriers that prevent us from succeeding. Many times we are ourselves that barrier.
I know when I started out, I was not so much afraid of the words NO. In fact I had those words down pat - I heard them often. It was fear of hearing YES that scared me even more. Fear was a huge barrier for me. Yes meant change and having to move forward. Progress and change are norm parts of real estate investing, yet most people view these as scary and fear some kinda type of loss
If you are wondering my answer about vacancies - typically you raise rent. Higher rent means more profit. So fear of could be making you not want to do what you know you have to do. A gain in your bottom line is change but is it something you should fear?
So as the end of the year winds down and we start a new year - what barriers to success are in your way that you want to crush? --24.101.xxx.xxx
Barriers to Success (by myob [GA]) Posted on: Dec 6, 2022 2:09 PM
your into the depths of the unknown in your analysis. Unknown since people fear different things.
One of my close friends feared the phone ringing and a tenant wanting something.
as you point out raising rent would bring fear through a vacancy. Changing tenants, in my opinion, is a way to upgrade my properties and increase rents (by a lot)
my big problem is dealing with tenants. Thinking out the scenarios of the WHAT IF's. That I would miss an opportunity to manage even better. --66.133.xx.xx
Barriers to Success (by DJ [VA]) Posted on: Dec 6, 2022 6:47 PM
Hmmm.... you've got me thinking....... --68.229.xxx.xxx
Barriers to Success (by 6x6 [TN]) Posted on: Dec 6, 2022 8:04 PM
I seem to have difficulty excepting help. I really don't know what to make of it or the reason why. Maybe it is the fear of hearing yes thing? IDK. Maybe I am not sure how to accept it as I learned a long time ago not to be too trusting of the human race and to be as self-reliant as I can? Of course, this definitely hinders success. It also causes one to make plenty of mistakes and be at it alone. It would be nice to get that figured out and nip it in the bud. It's not that I don't want or need the help, but every time the opportunity arises, I freeze up, thus definitely hindering success.
Another thing that I think hinders success is becoming so afraid of spending money when you developed a habit of saving in order to escape what looks like a hopeless life of doom. Then you end up discovering that saving was not really the answer. Although this can lead to some success, it also has hindered success.
There are so many things in life that can hinder success, and I dare say, that fear is behind them all.
Thank you for sharing your thoughts and experience. --73.113.xxx.xxx
Barriers to Success (by Ray-N-Pa [PA]) Posted on: Dec 7, 2022 8:43 AM
I sometimes lose sight of timelines. Is success a destination or is it the destination? --24.101.xxx.xxx
Barriers to Success (by T [IN]) Posted on: Dec 7, 2022 8:50 AM
Biggest hold up is... labor. Good help cost an arm and leg. cheap labor does too because of the incompetence! --170.203.xxx.xxx
Barriers to Success (by myob [GA]) Posted on: Dec 12, 2022 6:32 AM
in aviation ( or other businesses for that matter) this saying holds true.
Never time to do it right! -- always time to do it twice. --108.239.xx.xx