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TAKING ADVISE AS A REAL ESTATE INVESTOR

Oct 18, 2018

  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 develop￾ment. 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 be￾ginner listens to the negative voices in their life, they may quit  
or at least pull back from giving it their full effort. The sim￾plest 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 es￾tate? 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 fig￾ures, 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 natu￾ral 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 es￾tate 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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