Читать книгу Why Do Contractors Lie? - J.O.A.Maurice - Страница 12

The road to riches in real estate can be rough and meandering. There can be a lot of turbulence. You have to be extremely focused and know what you are doing. Any stupid mistake or misstep can be disastrous. As I have learned from my story of many failures and successes, and from other investors, I have realized that if someone stays put on the long and meandering road, they are likely to end up in the bush. Success in real estate requires a clearly defined road map with strategic benchmarks. For example, when designing a rehab project, it is necessary to first understand what you want to do, then decide who will work with you on that project, and the materials to buy. It is also necessary to have an idea of what the finished product should look like. That way, you can be in charge of decision making from the beginning, middle, and end of the rehab.

Sometimes, such knowledge is not easy to gain. In my case, I had to take various classes, like those offered by some national and local real estate organizations. In the past, these organizations taught at a designated place in a city for three days, then asked you to pay for weekly private phone coaching. It was not enough. In many cases, I ventured into various real estate projects without the necessary knowledge. I paid dearly in terms of mistreatment at the hands of contractors, and even from investors who came into my life as mentors, only to sell me their rundown houses and then disappear. I sustained heavy losses in my investments. Frustration after frustration followed.