How to Become a Real Estate Investor: Getting Started vs. Being Perfect.
Over the years, my viewpoint as an Alberta real estate lawyer has changed. I used to want and demand and counsel my clients that all the paperwork had to be perfect. That they should not accept any risk. That it just wasn’t worth it unless every issue had been 100% solved. That viewpoint and attitude was so wrong!
I now believe and know that ‘analysis paralysis’ is a deal killer—especially when it comes to creative investing methods. Practical trumps legal. Just get going! And the mantra to make sure you do one damn deal: it’s waaaaaaaaaaaaaaaay more important to get started than to be perfect. That’s what we teach in our real estate investment seminars, like the upcoming Rapid Cash Focus Workshop May 4 and 5 in Edmonton AB.
David M Ward writes the Prosperous Lawyer blog and heartily agrees. Below is his post called ‘Winging it,’ his version of it’s way more important to get started than be perfect.
by David M. Ward
We’re told that before we start a project (or a career) we need a plan and we need to know what we’re doing. Otherwise, we’re being reckless and inviting failure.
Sure. Only that doesn’t work for all of us, at least not all the time.
How many times have you just fallen into something, with no plan or reason to believe you will succeed? You took a leap and built your wings on the way down.
That’s how I started my practice, my brother.
I rented an office, bought some furniture, a typewriter and some supplies, and opened my door for business.
I didn’t know how to build a practice, or run a practice. I knew slightly more than jack squat about practicing law. I had no clients, no money, no clue.
If I had been a patient in the ICU, you would have said I was terminal.
But the patient lived.
So, here’s the thing.
Whatever you’re contemplating, be it project or career, plan if you must but don’t beat yourself if you feel like winging it.
I met my wife without a plan. Built businesses without a plan. Wrote books and courses without a plan. And started a law practice (twice) without a plan.
You know what? If I had forced myself to create a plan before I started the things I’ve done, I’m not sure I would have started most of them.
Oh yeah, what you just read? No plan.
David M. Ward