EXCUSES, EXCUSES, EXCUSES!

By: Mark Frentz
www.akerahomes.com
mfrentz@akerahomes.com

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We All Have Them

The purpose of writing this particular post is not to heap shame onto anyone. Most of us deal with more than enough shame for a few people. Rather, my intent is simply to bring awareness to some of the ways we attempt to cope with fear. Fear is a powerful motivator for a short period of time, particularly when it comes to NOT doing something. Fear is a terrible long term motivator for positive change in our lives. In today's post I want to hit on a few excuses I hear all the time from myself as well as others around me and how you might be able to work with your fear.

Excuse #1: I'm too young

Fact: I have a 6 year old daughter that has an equity interest in a property already. She purchased this interest a year ago when she was 5 years old. If she isn't too young, you aren't. While I realize you may be in school you can can still do so much in real estate if you are willing to learn. My daughter had help with her first real estate deal and, truth be told, her equity share is a very small one. That's ok, isn't it? Is it not ok to learn and grow in your investing? You have to start somewhere.

Excuse #2: I'm too old

I know quite a few people who began investing in their 50s and are doing quite well. I actually know a couple people in their 60s just starting and we have a plan in place for them to retire and have their money work for them in just 5-7 years from now! Keep in mind that the average life expectancy for both men and women is in your late 70s to early 80s now. This means that if you are in your 60s you could have about 20 years to invest. Also keep in mind that the work you do now may change your life in 10-15 years as you may struggle with health later on. It is exciting to be only in your 60s and still have a significant amount of time to make a difference in your life.

Excuse #3: I don't have enough money

This is the oldest, most well worn excuse I have heard. While this excuse may simply come from our cultural norms. So many of us heard when we were kids and asked something of our parents: "Sorry, we don't have the money". While we may come by it honestly, it is still almost always an excuse. For a very few people this may be accurate. I worked at a homeless shelter for a year and believe I have some kind of handle on the oppression of poverty in multiple ways, but I am also someone who had to basically start from ground zero when I first came back from 7 years in China. I had owned property before moving to China, but came back with no money, a wife, and a newborn child. Please don't use this excuse with me because I have been in a place of having no money at all (actually being in debt) and yet finding ways to invest in real estate. For this excuse I may just refer you to some Kiyosaki books as they often focus on doing real estate deals with partners. This is a legitimate way to help someone else and yourself.

Excuse #4: I don't know how to real estate works (I lack knowledge or experience)

This is actually a legitimate excuse... for a few days. Take a few minutes right now and think about how much TV you watch each day or week. Now think about a future where you don't have to worry about finances. At the end of your life would you rather say "I watched every episode of The Big Bang Theory", or "I spend a couple hours each week investing in my future and now don't worry about money"? I like the latter rather than the former even if I really like The Big Bang Theory. It is about priorities, pure and simple.

So, What Can I Do About It?

There is a quote attributed to Henry Ford that I love: "Whether you think you can, or you think you can't - you're right". It explains the important psychological concept of Locus of Control. Our beliefs are powerful and affect every minute of our lives. I have consistently asked successful people what the difference between success and failure are. The answer almost every individual gives me focuses on two things: a plan and persistence. I want to encourage you to do three things.

1. I want you to start taking an honest look at the beliefs you have that limit you and your dreams. If you need help with this it can be useful to spend time with a counsellor, psychologist, life coach or therapist of some kind. While they don't have all the answers, they can help journey with you for a time that allows you to begin working to change certain beliefs that prevent you from living.

2. I encourage you to take about 2-3 hours on a day off and spend the time dreaming about what you want in life. While these posts can sometimes look like they are all focused on money, they are actually about encouraging people to dream about what money gives you in other ways: Time with those you love, extra health care when needed, an ability to learn and grow as a person the way you desire, or the time, energy, and life experience to invest in other people the way you see fit. Write down a list of dreams you have for yourself and your family. Then begin to spend time each and every week (even if just 10-15 minutes each time) to think about these dreams and begin thinking of ways in which you can realize these dreams.

3. If you have children I plead with you to think differently than many people around you. Do you ever catch yourself using the words: "You can't", or "You are so stubborn"? Please change these statements to "How can we figure out a way to do that" and "You are so persistent/determined and I love that about you because it will serve you well in the future"!



Here's to your future of risk-averse investing!

If you would like to learn more about investing in real estate please contact me at the email address listed at the beginning of this article or go to my website at: www.akerahomes.com/investing-in-real-estate.html