Real Estate Investing Boot Camps & The Whole "Knowledge is Power" Debate
Real Estate investing boot camps are great resources, some are excellent, but they won't make you money.
Dan Kennedy has this great line he uses,
"People very often fail despite making themselves huge repositories of knowledge. People rarely fail due to the habit of taking action on knowledge."
Have you ever noticed that some people just "know-it-all".
They know everything about real estate investing. They know about rentals, they know about Joint Ventures, they know about Lease/Options and Sandwich Lease/Options and they know about Commercial financing and reverse mortgages and cap rates and CMHC fees and this and that and the next.
And they've been to all the real estate investing boot camps around.
There's also an interesting observation we've made about that type of person.
They get distracted easily.
They're often the first to dismiss a talk or presentation at real estate investing boot camps because, "they already know about that".
But yet, they are also the people who accomplish very little.
Let me share a story....
We know a very successful real estate investor. Net worth in the tens of millions - has his own private Jet - you know the type. He has property all over the place.
Well, don't we find him sitting in a marketing seminar we were taking a few months back. Just a few feet away from us. Blending right in with everyone else.
He's an older gentleman and was definitely older than most people in attendance.
But that didn't seem to bother him at all.
And then we learn this...
At one of the breaks, he had taken what was just learned in the seminar and was calling his staff back home to have them begin implementing what was just taught.
Literally, his time from knowledge to action was under one hour.
How instructive is that?
Here's a guy who is worth tens of millions of dollars - and yet he's investing in furthering his education and then he's implementing what he's learning immediately.
That's a point most miss at the real estate investing boot camps that travel the country.
"People very often fail despite making themselves huge repositories of knowledge. People rarely fail due to the habit of taking action on knowledge."
We're often asked by friends why we continue to fly around attending different business and mastermind meetings, real estate investing boot camps and marketing seminars.
And here's the answer....
We evaluate these meetings and seminars, which cost both a fair amount of money and time, on several different levels.
The value isn't the information alone.
The real value comes from the repeated exposure to the information. This repeated, constant exposure breaks down our conscious mind's predisposition to guarding against anything "new" and "different".
Hearing about a new real estate investing tactic, or a new marketing strategy, or a new business building technique one time is not enough.
We need repeated exposure until we are propelled into action.
It's like a battle against ourselves that we're fighting.
We understand that although we may "know" something, we may not yet be "acting" on it.
There's a big difference.
And there's something else...
We attend these different events and meetings for one more thing.
It's for the inspirational value they provide along with the information.
You see, we've learned that if we can find sources of good knowledge and combine that we motivation and inspiration it really accelerates our action and our results.
Get The Kick You Need From Real Estate Investing Boot Camps!
Knowledge alone is not enough, you need to be pushed and prodded into action. That's what you're really looking for from good real estate investing boot camps.
So although you may already "know" something ... until your start "acting" on it you need to put yourself in positions to keep hearing that information.
And you need to be surrounded by people, emails, newsletters, events and mastermind groups that inspire you into action.
So don't wander around looking for the next new thing. This is a waste of time. Trust us on that one - we know!
It's too easy to get bored. That's why most people do nothing.
Surround yourself with environments that share knowledge and inspire you. Read emails that inspire and educate. Study books, articles, newsletter that share knowledge and motivate. Hang out with action takers and before long you'll be an action taker yourself.
Keep mixing these things together until you take action.
None of this comes from learning about something one time.
Taking action is what produces results. Knowledge alone is never enough.
I'm sure we all remember an old teacher, friend or aunt that knew almost everything about anything - but hadn't really accomplished very much at all.
Remember....
"People very often fail despite making themselves huge repositories of knowledge. People rarely fail due to the habit of taking action on knowledge." - Dan Kennedy
Until next time ... be a Renegade!
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