It’s a Numbers Game
Every aspect of real estate investing is a numbers game, and you have to be okay with that. From the number of properties you look at to finding the right deal, to the number of offers you put in to getting one accepted, to the number of realtors you go through to finding a good one, and on and on. It’s all about the numbers.
I often hear clients say, “I can’t find a good realtor,” or “I can’t find the right properties,” or “I can’t get a property under contract.” When I ask how many realtors they have talked to or worked with, they say something like, “I have worked with 3 or 5, and I just can’t find a good one.” When I ask how many offers they have put in they say something like, “We have put in 5 or maybe 6 offers and still can’t get one accepted.” This can lead to discouragement, which can lead to frustration, which can lead to giving up.
This is one reason many people are not successful at investing in real estate. You have to do what it takes, and if going through 8 or 10 or more realtors is what it takes, you have to be willing to do that. If it takes submitting 20 or 25 offers to get a deal under contract, you have to be okay with that.
One of my most used words in real estate investing is, NEXT. Next property, next realtor, next contractor, next lender, NEXT.
Sure, some people get lucky and find the right realtor right off the bat or they run into the perfect deal that goes under contract, but that is the exception. How many does it take to find the right one? It takes as many as it takes, and you need to be okay with that.
In real estate investing, you will always be shopping for the right deals and the right people. Find ways to stay focused on doing what it takes. Learn to use the word NEXT with a smile. Avoid any negative self-talk. You can do this! Keep at it, and happy shopping.