Advice is a peculiar thing. Almost everyone has an opinion.
But who is right? The simple answer is that the person who has already produced extraordinary results in a given field is usually the person most accurate in their opinions on that subject. For beginner real estate investors, the first few
months are a very critical and fragile time in their development. It is here that many well intentioned friends, family members and associates will see the beginner embarking on this new journey and may express their opinions. If the beginner listens to the negative voices in their life, they may quit
or at least pull back from giving it their full effort. The simplest way to avoid this devastating outcome is to always ask yourself if the person providing the advice is a reliable source on the subject. Has the person who is providing the opinion on real estate made an absolute fortune investing in real estate? If so, listen to that person. If not, don’t. Ask yourself if the person providing the advice is a reflection of someone you want to be Ironically, sometimes the people most willing to advise new investors on the business of real estate are those who have failed miserably at it. Such as a local real estate agent who is barely making ends meet, or a friend who invested in a course
and never used it or even a family member that heard of someone who had tried real estate and supposedly real estate didn’t work. The only people you should ever take advice from on a subject are those people who have mastered that subject
and are very successful with it.
For example, parents can be a great resource for advice on raising children but if your parents struggled financially their entire lives, they may not give the best advice on becoming financially free. Oftentimes, well-intentioned authority figures, such as parents, provide career and financial advice when they are not the most qualified to provide the assistance.
Since we are raised to follow our parents’ direction, it is natural to take money advice from parents. But are they qualified
to provide advice on financial freedom? You may have a close
friend that you confide in with life’s biggest challenges. That
person may be a wonderful shoulder to cry on, but are they fit
to give you solid advice on becoming a successful investor?
Beware of financial advice from broke people. It isn’t rude or
disrespectful to avoid heeding the advice of those who are not
qualified to give the advice. Instead, it’s responsible.
Therefore, as you begin this journey, make sure you verify
the credentials of whoever is trying to advise you on real estate investing. If that person is not a master in the field in
which they are speaking, do not act on their advice. They may,
in fact, lead you astray.
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