Look, when you’ve been in the industry for as long as I have, you network with a lot of people and do a lot of deals—and then you get screwed. When you get screwed, you quickly realize who is screwing you and what traits they have.
There are hundreds of traits that may be indicators of this, but I’ve selected three that I am going to touch on today.
1. Wrong Expectations
The first trait is having the wrong expectations. If you fall prey to this, you’re probably going to fail. These people are often brainwashed by what they’ve seen online, heard in a seminar etc. Or they’ve listened to a guru in a podcast and think that real estate is going to be very easy, that they just have to show up and everything will be delivered to them on a silver platter.
Guys, that is very wrong. You have to work hard, and you have to prepare for the worst and hope for the best. I can tell you right now that the worst is going to happen, and it’s going to be very hard and a lot of people cannot recover from that. So my message to you is lower your expectations. It’s going to take you a long time to get you where you need to be. There is no quick way to succeed overnight. A lot of people try and cut corners, but they make mistakes and get into a lot of trouble. So definitely don’t be one of those investors.
2. Blaming Others
The second trait is they are quick to blame others for their shortfalls. This is something that is absolutely mesmerizing to me. Look, to be…