Its like operating a convenience store - 7 days a week 12 hours a day !!! - Posted by John G
Posted by John G on April 25, 2000 at 22:03:07:
Its not 40 or 50 hours a week - its 12 hours a day 7 days a week. Week after week after week. At least for the first 3-4 years till you get this thing cranked up.After that you slow down to 40 - 50 hours a week.
Now, don’t get me wrong. You can make a real nice living and replace the average wage with just 2 or 3 decent deals a year. I mean a couple of nice rehabs where you pocket 20-30K per deal and then there might be the odd flip or lease option in there for good measure. But make no mistake about it - thats just replacing one JOB with another.And thats not the REAL reason you found the courage to quit the security of that J.O.B.
Let me explain further. I used to think that once I made a certain amount of money and did a certain number of deals in a year - that was it. Then I was finished. Sort of like carrying the “on the job” mentality into my own business.It was like my own little govenor telling me I was finished at 5 o’clock, just like the guys on the job.
But you know what I found. I had the same number of calls from tenants, and contractors and loan officers and buyers and sellers etc whether or not I was doing 1-2 deals a month or if I was doing 5 deals a month. In other words, if you are crazy enough (and gutsy enough) to quit a secure job and go at this full time then you have to change your whole way of thinking.You are working for yourself and everything you do is either bringing you closer to your goal or farther away. In other words, the clock is not the thing to watch - its the number of deals you do - all those things that put bread on the table.Its the difference between being busy and being productive.
If you can master this then you can master your life. Nowadays, I do more business in a three month period then I would think of doing in a full year before.
It used to scare me to death if I had more than 1 or 2 deals/jobs/purchases/sales on the go at any one time. But its all the same. You are still going 12 hours a day - 7 days a week with 1-2 deals as you are with 5-6 deals on the go. The only real difference is on payday - you get to cash in way bigger checks.
The other thing is when you get to take time off - you really get to take time off. I just came back from 3 weeks in sunny Florida (I am from the great white north) and included in that was a five star cruise with my wife and kids. It really does make the game a lot more fun.
So, to you and all the other would be “full-timers” realize that it is like operating a convenience store and you are open 7 days a week 12 hours a day.
Good luck and go get 'em !!!