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Why Do Most Real Estate Investors Fail?
- Concentration on Technique rather than on Property - they start by looking at using particular techniques they learn at a workshop rather than at what technique is appropriate for each property.
- Doing
Many Deals Each With a Small Amount of Profit rather
than a Few Deals Each with Substantial Profit - they focus too much on the numbers rather than on what will really work.
- Working in a Crowded Arena (Single Family Homes)
rather than an Area with Less Competition and More Opportunity (Commercial) - following the mad rush of other new or non-savvy investors.
- Having
No Sustainable Plan - Limited or no planning. While we admire people who get into action and
are do-ers, having no long term sustainable plan can be PAINFUL.
- Trying to Do Deals with
No Equity Contribution - Sometimes No Money Down is not the best thing.
Source: Article in REI Club website: "Why Most Real Estate Investors Fail?" by Don Konipol
(MBA in Finance from the University of Michigan and is a licensed Texas Real Estate Broker and Mortgage Broker. Mr. Konipol is General Partner of the Managed Mortgage Investment Fund LP, a private limited partnership that invests in short term, high yield private mortgage notes. Notes in black above are notes done by Alacrity staff)
At Alacrity Consulting Services , we have
Coached a handful of investors to Success and Retirement.
U nlike
other Coaching Services, we have intentionally
Kept the Number of Clients Low to
Focus More Attention
to
each client.
We understand the level of commitment, energy and money required to make wealth and a happy retirement occur.
We have worked across the world, but work primarily in the bay area of Northern California: San Francisco, San Jose, Oakland, Santa Cruz, Monterey.
Question:
How Do We Do This?
Answer: Our coaches are
Extra Vigilant and Rigorous in
a. Creating A
Workable Strategy and Plan and then
b.
Holding You and/or Your Team to Account rigorously on
Staying on Track.
"Less than
15 percent of all full-time, licensed businesses fail in the first year.
About a
third of all new businesses close their doors in the first three years.
Yet
25 percent of the businesses who fail each year are more than 10 years old.
In order to be successful over the long term you must be
ever-vigilant.
You
can't get sloppy after a few years and expect your business to automatically prosper in the future"
--
Source: SCORE Vancouver Chapter website.
Of course, we allow for changes to the plan that are appropriate and logical.
But the biggest problems for most Investors and businesses (especially new investors or businesses) are:
a.
Not having a Clear Plan or Clear Strategy
b.
Not Being Committed Authentically to the plan (this stems partly from not accounting for their questions or doubts or available resources)
c.
No Relationship to Reality around
Hard Numbers and Milestones
d. because there is no relationship to reality, new business owners/managers
Work Too Hard
and Ineffectively or Work Too Little.
After our
Coaches Create a Plan with the Team, we put the business owner and team through a series of
Clarifying Questions: questions that are geared to
Get to the Truth Quickly:
Are we committed to this plan or
Is this going to be another "nice idea" that flounders in a sea of good intentions?
If they pass this test, then the
Next step is Execution;
an execution of the plan with thorough
Accountability and Managed, Responsible Creativity.
We will support you in
Setting up the Organization and Legalities.
We will refer you to the
Top Professionals we know, including
Attorneys, CPAs, Admin staff, Marketing Consultants, Exit Strategists , Book-keepers and Professional Organizers.
We will also support you in the process of
Setting up Loans or Lines of Credit with our own contacts at
Banks and Lending institutions (Home and Commercial).
Our Process:
- Coaching
To Keep You and/or your Team On Track during Execution of the Plan and Strategy
- Time Management Training
Critical for You and the Team - you will quickly discover that your Biggest Resource is Your Time
To setup an Initial Consultation or
for more information
Email us
or call 831-476-8608.
We have a Simple and Clear process to Get You Started on
Your Road to Wealth.
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