Stay In Your Lane

Stay In Your Lane

There are at least a thousand ways to make a million dollars in real estate. Think of it like a network of roads – most of them leading to financial freedom. Some are rugged and difficult paths requiring specialized equipment (think off-roading) and knowledge. Some are highways that take a longer route. Some are more direct, but with slower speed limits. The point of this metaphor is this – you can really only be on one road at a time. 

Is it possible to make money flipping houses? Buying and selling notes? Buying and leasing commercial properties? Brokering hard money loans? Owning rental properties? The answer to all of these is “YES.” But if you start tomorrow trying to do all of those things – you know – whichever one strikes first – you are virtually guaranteed to go nowhere. 

Gordon Catts, a real estate investor for over fifty years is known for saying, “the dog that chases five foxes catches none.” 

Pick a lane (a strategy), master it. Then select another strategy that uses similar skills. For example, flip houses for profit. Use the profits to buy rental houses. Rentals will require additional skills, but you can use the rehab skills you’ve already developed and buy fixer uppers to turn into rentals.

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