190. 7 Ways to Avoid Failing As A Real Estate Investor

We have some many great examples of businesses that have shaped the way we live today. From the invention of the first automobile to the smartphones we rely on so much each and every day. We've seen some amazing progress in our lifetimes and I'm excited to see what is around the corner. There is a darker side though. Many businesses have failed. In fact, most businesses have failed. This is exactly what I love about real estate though. We don't have to be a rocket scientist to make it work; it just comes down to the numbers. Ok… so maybe it's not quite that simple. We still have to have a good understanding of our market, regulations, and supply and demand. If we get this right though we should be good to go for the long run. While other businesses don't have it so easy. I've been revisiting a classic book this week, perhaps one of the most recognized and influential motivational books of all time, "Think and Grow Rich" by Napoleon Hill. Napoleon dedicated 25 years of his life to this timeless book, or what I would call, a handbook for living a successful life. In this, he also talks about failure and how most failures can be summed up into thirty separate items. For those of you that haven't yet had the pleasure of reading this book, I want to sum up just seven of those 30 failures in what I can most closely relate to the short-term rental and real estate industry. P.S. If you ever make it down to Brazil you might want to take a little trip here :)