Failures in Real Estate

Bouncing back from a real estate failure

Failure in any situation will always leave a scare in your mind. Getting back on the horse after you’ve been bucked off can seem daunting. It may feel like the whole world is looking at you and laughing, but that can’t be farthest from the truth. 

I remember the first tenant that signed a lease with me. I was so excited! I was so excited that I didn’t even do a credit check or background check. I was so excited that I didn’t even have the patience to get another application. I believe you all know where this is going….

Yep, after a great couple of months of receiving the rent on time. Then it happened, she played me like a brand new freshly painted piano. Its was three agonizing months til I got her out. I wanted to be a big real estate investor, but cleary I wasn’t ready. That was a humbling experience.

“THEY SAY”, failures are stepping stones success. It sounds cheesy, but its true. At that time I was just lacking knowledge. For some reason, failures are looked at as a negative. If we need failure to succeed, shouldn’t we high five one another after a failure?