Endurance races, obstacle races, and the Spartan Race have made a big comeback in recent years. Believe it or not, those that manage to make it through to leap the fire at the finish line aren’t unlike today’s most successful real estate investors.
Real Estate Investing: It’s Not A Sprint
Experienced investors in all sectors know that success is not a sprint. It’s not a 100m dash.
There are many amateur investors and even institutions who have been treating business and investing like a sprint every quarter and month. Despite the apparent short-term success, that usually leaves them out of gas to keep going.
Get rich quick schemes produce what seem like wins in the short term. Usually followed by a hard fall. The only thing worse than never investing, is making a quick million, and losing it even faster.
It’s not a marathon either. Marathon runners do have some grit. They’re investing in the long haul. They know how to pace themselves. This type of investor tries to make smart moves that will keep them sustained for the long term. It’s smarter, but with one major pitfall.
Real Estate Investing is a Decathlon
The problem with the marathon approach is that life, the economy, and business isn’t just a flat smooth road. If you’re not used to handling obstacles, it is really going to throw you off. We’re also living a lot longer and need our money to last a lot longer too. A marathon is only 26 miles. The longest endurance race is 3,100 miles.
Businesses and real estate operators need to be able to handle all types of hurdles and tasks. There are acquisitions, due diligence, financing, marketing, leasing, maintenance and dispositions, just to name a few. Then you are also operating in multiple terrains and environments. There are going to be hills and valleys. You can’t just choose to participate in some of them. Rather, you need to keep investing through them.
You also have to be able to continue to move swiftly. You need to keep up momentum, keep moving forward, and make decisions, even when facing obstacles, rain, and recessions.
Professional athletes, and even successful amateur endurance racers have great support teams and training to get them through this. If you haven’t dealt with these coming obstacles or all of the sports involved, it’s smart to leverage their help.