Why Do 96% Drop Out/Quit?

Good job Mike, great motivation. Its so true, for some people it takes weeks and month to build that self-confidence TO DO, but yet, it takes only seconds to fade away from all nesayers.
and good luck to you!
Artem

That is my problem self-confidence. But I keep coming back here or should I say I am drawn back. I have always had trouble following through. I think about it even dream about being successful but when it comes to action well I am not sure what happens. Thanks for the motivation though.

I saw Dean's infomercial back in '09 and when I got his books I just read them through and took no action. I got caught through the impression from my negative people telling me it doesn't work, scam, you need alot of money, etc. Now here I am going all out and succeed in REI. I'm gonna make sure I am not one of those 96% drop out rate person. It's now or never!

Hello Mike

A lot of great motivation talk on the site today, and yours is another one.
I bought one of Dean's books two years ago, and Carlton's five years ago.Guess what....they are both in the closet.

I have been rehabbing houses for a lot of years,for other people and Realtors, and I have found the deals for them in many cases. So I have been involved with it for years, and I knew that was where the money is I just never put the deals together for my self when I did have some funds available. But that has changed this time. Now I'm a partner share the profit or I will not rehab it. I am listing my second rehab this week. So I not going backwards anymore.

Jim Kendrick

Nice motivating speech!!!.I was in the same situation as jim in rehabbing for yrs and seeing otHERS make the large profit by working smarter not harder as I was.We. were taught at a young age to WORK HARD and we will succeed.wellllllll the forgotten advice is to work hard at working smarter.........such as learning from those who cleared the path for us and finding sites and mentors here.you r 100 % right we r the only ones that can make or break us ....NO ONE ELSE. Good advice....keep the motivation coming !!!
JAY

back up

This is a great post.

Thanks for bumping it back up. I missed it the first time.

Karen

'THE ONLY ONE THAT CAN CHANGE MY SITUATION IN LIFE IS ME'.

love this! I wrote this down when I saw this thread months ago. It's on wall behind my computer, written on an index card I (spiral bound) keep in my purse and written on the back of a notepad along with a list I read and speak outloud to myself every morning, and also before I have to do something that is out of my comfort zone!

As far as the dream stealer.....well I have my own feelings on that. Some may take it offensive, it's not meant that way, but it's up to each of us how we received information.
Point being, I feel NO ONE can steal your dream. No one has that kind of power! You have to roll over and give it to them! You have to surrender it!

Protect Your Mind, Protect Your Time! 'I AM RESPONSIBLE'!!!

Good stuff Mike! Love your post!

God bless,
Jen

Thanks for the encouragement. I am trying to complete my first deal. I have the properties, but trying to find the buyer. I am this close, but waiting for the magic moment. I do not want to be one of the 96%.

As soon as Deal #1 goes through - I am signing up the DG cruise. Wish me luck!

Lori

I have a house that I need to sell. Do you guys buy houses? or just fix them?

Don

Strong words.. Very motivating!

Thanks,
Scott

Thanks for bringing this motivational article back to the front. You guys know how Dean has room for only FIVE active articles on the right side of the homepage? I think he should expand that to 10 or 15. It would keep more things on the forefront, and I know it won't crash his website or servers (hint hint!).

I'm in a similar boat. I'm a "reading expert" on what works and what's legal, but when the feet hit the street, I'm still an innocent bystander. A looky-loo, if you will. I've read, watched, and heard so many other peoples' successes, I almost feel like I'm making money watching them! Pretty pathetic, huh? That's my problem, I'm so busy playing it safe and watching other people risk it and win that I'm still in the stands, when I clearly belong on the field...

Click on the "What's New" link on the left, that expands that list for a few pages

That's good for showing every article. I was just hoping they'd expand the list on the homepage, you know? Has anyone else hit that button lately? Did anyone see how many straight up SPAM articles there are right now? Good Grief! Where's admin when you need them?

I burned all bridges when I picked up Dean's book back in 09. I didn't have the greatest life up to that point which fueled my passion to stick with this business for as long as I had to. 2 years later I am successful and I consider myself lucky and resiliant. I don't say this to brag but to motivate some of you. The key is to have a burning desire and goals while taking action. The rest will just fall into place. Happy house hunting.

absolutely the key martini

it

Not everyone is built for this business

I think if you want to do it, you'll do it.

I talk to people all the time and tell them the benefits of RE, and while not everyone experiences the same, at the very least you can do your best to have no regrets and be able to look yourself in the mirror.

This is not the business to coddle someone to do it; if they can't see the benefits and not want to participate, then so be it.

No is built for Business, on till you put your Mind to it, and do It.

This includes Real Estate, and any Business.

Keep going forward, and learn on the way.

It will come to you if you don't Quit!!!

Don't Quit, quitting shouldn't be a option.

Armendariz5

for bumping it again... I missed it the first couple of bumps

you are so right; commitment, motivation, and NOT quitting are key to succeed in rei.

Learning and progressing every day,

As Elix said, this business is not for everyone. Some people just lack the drive, motivation, and tolerance for risk and are destined to be W-2 worker bees for the rest of their life. As a friend of mine once said "If it was easy, everyone would be doing it.". It's a balance between security and risk. Some people are under the misconception that a paycheck from week to week is security. The way one achieves security is by taking risks and having their money work for them instead of working for their money. Just look at our welfare system. The pleasure of gaming the system outweighs the pain of not having control of your life. It's basic human nature...money for nothing and chicks for free. Those who are willing to pay the price will have the trophy of success, those who aren't, won't. There are a lot of people who are content to work forty hours a week, drive a 3 year old car , live in a 3/2 tract house with 2.3 kids. That's OK. That's called being average. If they want more, there are ways to attain it. So the 96% to 4% in real estate seems to mirror the 99% to 1% in real life fairly closely. And what do we have as a result. The 99% want a piece of what the 1% have under the guise of "social justice". How is it justice to take from people who have worked for something. I am not very popular among some of my friends as I defend the 1%. I tell my friends, "You can be part of the 99% or part of the 1%. I'm trying to get into the 1%. What are you trying to do?"

Wow, this is quite a shock as i didnt think that the drop out percentage was that high. But i must agree, you fail because you wanted to, like many people that start new things, they are excited, motivated, and look forward to challenges... but as Napoleon Hill (think and get rich) says, when things get tough, thats when you the separation from boys and men...

I myself am starting, and im very excited for the opportunity that are ahead, with the right mentor, education and constant willingness i know i'll make it.

some get rich quick

It IS building wealth over time

You can collect some good sized assignment fees and if you have ice running through your veins you can fix/flip to make substantial profits

It all takes TIME

Thank you Mike (& Everyone)!

This is good to keep in mind! (The "SUCCESSFUL", the "DOERS" the NON-QUITTERS, the "DO-WHATEVER-IT-TAKES"-Investors" - The 4% are all on DG . com, helping each other out and sharing knowledge and experience through useful posts like these!)

Cris

This is just what I needed today!

My husband's patience is wearing thinner & thinner that I'm not yet successful. I feel a lot of pressure from him. I already pressure myself to make something happen. Which makes me incompetent. I'm having a hard time getting him to understand it's not an overnight thing. Then he says, 'well Dean said you can do it in 30 days!' I'm going out today to drive for $$ again. I did it last week with no positive results...meaning I was not able to get any responses from phone calls or letters to the owners of vacants. Except one, which turns out it wasn't vacant.

I don't have a real plan in place, that's it! I'm just throwing darts at a target I can't really see.

I won't be one who quits. I refuse to let that happen. Today, I'm going to have at least one positive thing happen!

Thanks

Linda

I have never done any mailings, but when I see a FSBO I call or even stop. Actually it is better if you see them outside and you stop and talk. Tell them you are on your way somewhere and wanted to ask about the property.
I did my first bird dog property that way.
And it is okay to find an agent and ask an agent for a property and as long as it isn't an REO you can do an assignment with the agent. Just have your exit clause.
But here is some hope.
I had a property here in Wis, that is from 1847 the old general store. over 4000sq ft in a tourist area. And as usual, because of the amount of work, EVERYONE said don't touch it. Well I talked to the owners and was upfront, not sure if I could do anything, but could I try for a couple months. I had even investors from the REI club get down on it. I had the place for over a year, and often told them I doubt I could do anything, they liked me so much and said if they ever found anyone, they would refer them to me.
Well even the ads expired. One day I hit repost on CL just for Madison, and had two good buyers in 36hrs.
I have no contract, but answered the questions for the buyers, and then the owners showed both buyers the property. One a trucking co from S. Dakota, really wants it and is getting estimates for renovations. Another is another business who does audio engineering.
Now who ever can do the financing first gets it.
The owners called me so excited and said that as soon as it sells, they are sending me a gift for a all I did.
But the greatest thing. They are telling their friends what I did.
So don't ever think it may not work, it just hasn't yet.
I used to give riding lessons and some scared students would say, will this horse buck or run off with me? I'd always say, he hasn't yet.
Meaning, every situation is different. And it is all in the confidence you force yourself to have.
Even for those who are scared, just do it, and do it the right way, and it does work.
I am not even close to being what a lot of people are on here, but when you are totally alone doing this, it is harder. If I had someone to even talk to a few times a week, I know I'd be much further.
But joining a REI club and actually talking and getting to know people from there, does help.
Start a WINGS group in your area. WOMEN INVESTORS NETWORKING GROUPS. We now have 40 members since last Sept, and we meet once a month for only an hour, which always goes longer, but we get special speakers from the REI club to come help us.
So good luck, and keep plugging along, it will all of a sudden, when you don't expect it, open up for you.
Sandi

I think everybody posting in this thread is part of the 4%. Networking and persistence are key. As Sandi shows in her post, something may not happen right away to something you are working on, but keep at it since all it takes is one buyer, connecting is about timing which may be helped along by marketing and networking.

Let's keep this thread bumped up, it is a great thread.

Thanks for starting it and keeping it up Mike

Judi

You must have huge determination, persistence, education and common sense. You have to know what to say and how to present yourself to buyers, sellers, agents, etc. until you establish yourself. Also you must be an entrepreneur at heart and know what that takes.
This is just a fact of life. If it was easy everyone would be doing it.
I don't think there are many successful business owners that let any negative people effect them anyway! They don't need to have someone else motivate them either.
This is a cold, cruel world and either you attack, overcome fear and adapt or you had better stick with the 9 to 5. There is nothing wrong with the 9 to 5. The world would not go around with out 9 to 5ers. The fact is, most people are employees not business owners.
YOU have to decide if you are going to take action full steam ahead. NO ONE can or will do this FOR you. Remember. what you put in is what you will get out. This is not a get rich quick scheme.

Good luck and go make an offer today! No offer = no money!

Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC