Don’t misunderstand. I like to play chess. I just don’t play it. (surely there is more to this than a statement about chess, right”) Of course! I’ll get to that! But First……. As much as I really do enjoy playing chess, I’m simply just too much of a beginner at it. AND, I don’t have the desire, time, patience or interest to get good at it. Besides. I really don’t care if I ever get good at it. It’s all about the rules! The basic rules are simple enough. What’s not simple are all of the strategies and thinking ahead and maneuvering that you must also learn in order to be good at it. That’s where I draw the line. It’s just too much to be worth it.
On the other hand, much of investing is EXACTLY like a chess game. Not only do you need to understand the basic rules, you need to understand the complexities of the many, many simple and complex strategies. This became obvious to me the other day when I got a call from a prospective buyer on one of our resort properties. They went on about it being a life dream and they had experience in hotel management and it would be the perfect life and lifestyle for them. Then came the key question. What could I do to fund this dream of theirs and make it come true for them. My answer was the same as it as been for every other potential buyer. I will fund your down-payment, but you need to get the rest of the financial backing yourself. Which, by the way, is not that hard!
Their response. Well…..okay. I guess it won’t work for us.
Wait a minute. Did I not just hear them say, “dream lifestyle”. The deal is that they want to play chess and win at it, but they don’t want to invest the time, energy or trouble it takes to learn the rules and strategies. Making magic in real estate investing. (or anything else for that matter) is no different than getting good at playing chess.
Magic is possible when you learn how to play the game and have something up your sleeve. In this case, they had nothing. If I can get someone to fund a down-payment for me, I’ll come up with 57 different ways to make the magic happen. That’s only because instead of learning how to be good at chess (or Halo, or World of Warcraft, or “Candy Crush”) I learned how to be good at getting an investment deal to become reality for me! It’s my arena! It’s where I play “the game”.
Part of me wants to put my arm around them and say. “Come on, let me show you 57 different ways you can make your dream a reality!” Another part of me reminds me that I’ve already done that hundreds of times to no avail. The fire to learn has to be there first.
I hope that you have a dream that’s big enough that it takes a little magic to get it done!