Unfortunately, the weather – when it comes to real estate investing – is pretty tough. The vast majority of real estate investors get chewed and spat out before they Armenia WhatsApp Number even know what hit them. More than 87% according to some estimates. But it’s not just real estate wholesalers and pinball machines. It has been published that over 96% of businesses fail within the first 10 years and over half fold up their tent at the end of the first year. But that number is even high for real estate wholesalers and pinball machines… …because of the low barrier to entry to start a business. It requires virtually no capital to get started.
Failing investors tend to open their portfolios based on emotional decisions rather than nailing down their numbers and trusting the numbers. When emotion takes over, you tend to stop investing in marketing before it has a chance to succeed…you tend to make offers based on your “gut” versus a proven formula…and you tend to bounce from one thing to another in search of that magic ball like a pinball machine. One of the ways people constantly get emotional about numbers is the amount of money you invest in your business. How much money you invest in a marketing strategy. Money you invest in a property. How much money you invest in your education.
Likely to Succeed
As soon as emotion creeps into the equation and a mathematical formula stops being used… you’re on the fast track to losing your butt (and don’t know why). They set aside $2,000 for PPC marketing for motivated home sellers. They have 7 leads to show for this, which they are working on… but no agreements yet. By week 4, their campaign is a bit more refined, but they’ve spent $1,250 of the $2,000 they had set aside…with a total of 10 leads. Totally disgusted, they start thinking, “Man, maybe PPC isn’t for me. I’ve already gone through my budget, let me stop this campaign and find something else”. With that, they stop their campaign and call it a “failure” and a defeat. $2,000 in the hole and now “focus” on a new strategy.