Peter Pays Paul

Michael Cook over at the BloodhoundBlog wrote a great post about persistence in real estate investing. This is true in whatever realm of investing you venture.

Investing is a long-term game plan. If your only goal is to “get rich quick”, then the first sign of adversity will likely derail you and scare you away. Sports and investing have many similarities. In high-school I played football. We practiced for three to four weeks before we played our first game. Those first weeks were terrible. Included in that time was a week with two practices a day called hell week. Many times you questioned whether all the practice and pain was worth it.

But then…, you play your first game, you hear the roar of the crowd, you feel the adrenaline rush, and you score or make a big play. It makes it all worth it. The blood, sweat, and tears have prepared you to be where you are. They are what prepped you to be on top. Persevering through the hard times are what built the character necessary to win and to perform.

If at any time a player takes their eyes off the goal of game time, the practices would seem like drudgery and torture. If we take our eyes off the goal of an enjoyable and fulfilling retirement, then the bumps that investment throws at us will derail us from that goal. Real estate investing is not for the faint of heart. The market will have down days. But perseverance and preparation pay off.

Your vision should not be as nearsighted as today’s bad news. You must focus on the future goal and the path to get their. You must measure your progress in steps and accept any fortuitous aid that assists you in achieving your goal.

This does not mean that you ignore today. You should correct mistakes. Learn from them and move on.

Great individuals do not see failure as the end, but as a step on the way to greatness.

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