How I Met Alex
Summary
- I once thought real estate was a passive income opportunity until I saw a friend's operation with a team of 40 people.
- Real estate requires significant work, such as managing a team and buying deals, contrary to what I initially imagined.
- If you want to make money, you're going to have to work in some capacity. Real estate is not as passive as it might seem.
Video
How To Take Action
A good way of implementing the lessons from my real estate experience is to rethink what "passive" truly means in any investment or business venture. If you’re an entrepreneur, ensure you have a clear understanding of the time and effort it takes to manage operations. Simply wanting to make money isn't enough; you must put in the work somewhere.
Next, if you're considering a new venture, like real estate, first research and understand the actual day-to-day operations. Talk to people who are already in that industry. This will give you a realistic picture of what to expect.
For personal growth, prioritize tasks that directly contribute to your goals. Keep track of where you spend your time and see if it aligns with what you want to achieve. If it doesn't, adjust accordingly.
Finally, leverage your current network for opportunities and advice. Often, there are people around you who have done what you want to do or can offer valuable insights that’ll save you time and effort. By doing this, you minimize unnecessary trial and error.
Remember, success often requires more work than it seems, so go in with eyes wide open and be prepared to put in the effort.
