How Risky Are Real Estate Auctions? (2020) [Part 14]

In Real Estate, Sometimes you win and sometimes you learn - Idan Avivi - Entrepreneur of the Week - Post 1 + 2

#EntrepreneuroftheWeek #RealEstate #Flips #BuyAndHold #BRRRR #Mortgage

It just sounds better in English
I'm naturally optimistic! I always have been. I do not know how to explain it but all my life I have always looked at the half full glass and I think this approach has always helped me in life and of course the real estate field as well.
You must internalize that economic change takes time!
Social networks, conferences, etc. will always tell you how easy it is to make real estate and how they found a deal that earned them tens of thousands of dollars in two days of work, and the thing is that it is possible but in front of every such deal there are dozens of other deals that failed Or from the ego, you just won't hear about it and statistically these are the most deals.
So keep in mind that in order to lift a thriving real estate empire you will fail along the way!
It is important to internalize that failure is a temporary thing and has one meaning - it gives us knowledge that something is wrong with our program.
Failure basically just shows us and directs us in the right direction. The failure should be accepted as a sign that the investment strategy we have built is unfounded and needs updating.
Do not say sometimes you win and sometimes you lose, but sometimes you win and sometimes you learn. You will learn from mistakes, do not let them stop you, many times the treasure is the very journey to it and not the treasure itself.
You need to be able to present failure as feedback. Feedback that will teach you lessons on the road to success.
This of course sounds easier than it really is, after all we all experience failures during our day to day work, with family and friends and it is easy to forget the basic rules and feel like a failure after something goes wrong. It's okay we're allowed and even worth staying in bed the next day tucked under the blanket.
Feel comfortable because this is our first instinct to feel disappointed after we have invested so much in ourselves and failed. After such a defeat it is not easy to get up again and still try to learn from it a lesson for success but one must not despair. Your greatness will be measured by the ability to internalize, contain and learn failure.
In a previous post I told you that my first real estate business in the US was at Raleigh North Carolina. At the time I started to interest many dozens of investors who all expressed interest and wanted to invest but somehow it never matured to the conclusion of the deal.
I was frustrated!
How can they not see the immense benefits that for me are so obvious! How come they do not understand that I am going to make them cash registers??? !!!
So I signed up for a few marketing courses, read a few books on the subject, sharpened my closing sentences, improved my body language and the deals were not long in coming.
In another case I was looking for a Hard Money Lender lender for the first deal in which I took leverage and fell victim to a sophisticated scam. I got to the lender through quite a few recommendations from the Bigger Pockets website for those who know (who in retrospect had a fake and part of the show).
Everything seemed right, they sent an appraiser to the property (which was also part of it...) the fake documents matched everything and it really looked like we were on the wave. I did not even suspect that something was wrong when we transferred $40,000 to him in the closing costs... Since then his traces have disappeared. It could have broken me at that moment but we put the past behind us, we learned a lesson in reality that in life I would never have taken in any course and I can assure you that I also studied the lending field so well that it never happened and will never happen again.

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