I’ve been a martial artist all my life.
It is one of my many life passions. Possibly my biggest one! I started when I was very young and I still train today.
As such, it has been one of the driving forces in my life and has shaped how I look at almost everything.
That includes real estate investing.
How you do anything is how you do everything. The way I’ve approached my martial arts life is how I look at real estate. Here are some key lessons that I’ve learned to apply.
Lesson 1: In the beginning you will NOT be good
As a matter of fact, you will be down right terrible.
The difference in martial arts from someone who has trained for years and a beginner is staggering. Not only that, the difference between the master practitioner and the novice is glaringly apparent.
The newbie is awkward, unconditioned, lost in the practices and customs, and totally clueless.
To make matters worse the instructors (who have had years of practice) make everything look so fluid and graceful. They pull everything off with practiced dexterity and precision that comes from hours upon hours of repetition.
Know that in the beginning of this journey you will be terrible.
You are going to make mistakes. Some will be harmless and some will cause you great pain. But that is ok.
You cannot be afraid to make mistakes because that is how you learn. Sometimes you have to push harder, sometimes you need to tap out. It takes time to get good at anything.
Curiosity might have gotten you through the door and motivation might have gotten you through the first week of training but discipline is what will define your success.
If you know why you are there then you will know why you will keep going. In the end it is worth it because you’ll be stronger, wiser, and added bonus, harder to kill!
You probably don’t want to hear this, but the same is true about real estate investing.
- It takes time
- It takes patience
- It can get difficult
You can do all the research you want online, read all the books, and ask all the questions but you won’t understand the process until you do it. Don’t get me wrong, I want you to do the research, I want you to read the experts, and most definitely ask questions.
However, there is a time where you need to move forward with the actual process to gain any kind of experience.
Observation will help you learn but doing will ingrain that knowledge. Doing is where we progress to mastery. Take action.
“Knowing is not enough, we must apply. Willing is not enough, we must do” – Bruce Lee
Lesson 2: Your skill sets are built outside your comfort zone
I had a black belt in Tae Kwon Do before I travelled to Thailand to train in Muay Thai (both striking arts). Then I started training Brazilian Jiu Jitsu (a grappling art).
I could kick down a building if you put in front of me, but did that help me when I was getting choked out on ground? Nope!
It is totally uncomfortable to have experience in one thing and be a seasoned practitioner, then move over to an adjacent art and be completely lost.
When I first started BJJ I was legitimately embarrassed at how easily I got tossed around and submitted.
But that is how you learn. That is how you improve.
Step outside the comfort zone.
Skills in one area may slightly translate but that doesn’t guarantee success in anything else.
In real estate being able to fix and flip properties is a fantastic skill set. And yes, the knowledge of the market and product understanding is key, but it doesn’t necessarily mean you will be an excellent landlord.
That is a different skill set. If you want to fix and hold then you need a different approach and strategy than just flipping.
A black belt in one is not a black belt in both.
You can choose to specialize, you can choose to mix it up. It is all about skill set. In mixed martial arts as in real estate, having more tools makes you more able to fix more problems. And generally, the more problems you fix, the more money you make.
Lesson 3: Learn from quality instructors
A good instructor, a truly good one, is someone that has:
- skills
- experience
- the ability to communicate effectively
If one of these components is missing then you don’t get the full understanding of the art.
If someone only has skills it is just theory.
If someone only has experience their technique is might work for them but not you.
If someone doesn’t have the ability to communicate in a manner you understand, they cannot teach you and you miss out on their insight. If the instructor doesn’t know why something works they cannot teach the best way for someone else to make it work.
“Everybody has a plan ‘til they get punched in the mouth” – Iron Mike Tyson
Mike was right and the punch in the mouth of real estate investing is when something goes wrong. The leak from the roof cost more to repair than projected. Jab. Our perfectly screened tenant loses their job. Cross. Your insurance has to go up because the county redrew their maps and now you are in a flood zone. Hook.
Yes, even the best laid out plans with the most research fail you.
In real estate investing the ability to lean on good people to help you through a crisis is essential. That coach in your corner can mean the difference from getting knocked around instead of getting knocked out!
Whatever your problem, someone out there has gone through it and solved it… and if not, then they can at least offer up some ideas for a solution.
So to find that right expert instructor, mentor, teacher, business partner, ask yourself, is this person someone who has the skills and experience in my area of interest and the ability to communicate their knowledge effectively?
Lesson 4: It is all about attitude
Have fun with it!
There are good days and bad, but that is the same for any other endeavor.
In my life I have had many friends start and stop martial arts and the same thing for real estate investing. If it isn’t for you then there are other ways to get to where you are going. Both are means to an end but in life there are many paths.
You can learn other sports you enjoy. You can become wealthy using other investment vehicles.
Anything you spend your time on should be something you find truly valuable. Life is too short to do things that you hate.
Make sure that you find some friends and allies along the way. Iron sharpens iron.
Find people who lift you up and do the same for others. Take the time to teach others what you know while keeping an open mind to learning from everyone.
It is popular to be a bystander but much harder to be the man in the arena.
There is a vast difference in watching the UFC and getting on to the training mat.
That is the other thing, this isn’t all or nothing. Better to be a weekend warrior than someone who thinks they shouldn’t start because they won’t make it into the octagon.
Everyone can do this!
People’s eyes light up when I tell them I invest in real estate. This industry is glamorized by HGTV and REI gurus. But the truth is it takes time, it takes work, and sometimes some blood, sweat, and tears.
Most people are content to just watch, just wish, just be the spectator.
Not I.
Perhaps, grasshopper, not you.
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