For a few years now I have found myself with several empty houses and a real estate challenge to overcome. As a multi-business owner, this does not scare me, though. I want to encourage you to not shrink back in fear when troubles come.
How to Overcome the Real Estate Challenge of Empty Houses for Investors
When people get started in real estate investing there are two extremes that they tend to fall into. One thought is that everything is always going to be super difficult with a TON of struggle. The other thought is that there will be no issues. That everything will always go according to plan (and with a LOT of money, too).
But, here’s the thing: every investor needs to embrace the fact that there will be a real estate challenge from time to time. It just comes with the territory.
So, I want to take a little time to help you get your head right so you, too, can be a successful real estate investor NOW.
As I mentioned, for a few years now I have a recurring struggle each summer. Several of my houses end up empty. One thing or another happens and my tenants move out, relocate, or I have to boot them out. But, either way, I end up with a handful of empty houses.
And when this happens I still have that little teenage girl in my head who wants to stand up and start freaking out. But, I have to keep her tempered down and quiet. She does not rule my life or make my decisions for me.
It is tempting sometimes, though, to listen to that freak-out. How easy is it to see a real estate challenge as the end of the world?! SUPER easy!
BUT, just like in everything else, you just have to put one foot in front of the other and everything will work out just fine.
That scared little girl in the back of my head needs to be put in her place. The only way for me to shut her up and shut her down is to tell her that I don’t need her. I say, “I am a successful real estate investor NOW” and that she is a scared little girl who needs to go sit down.
Do you get it? And it’s important to say that “now” piece, too, because it is totally different from “someday” or “maybe.” NO! Declare what you are right now, even if you are still in the process of proving it to yourself.
Until you believe it, you won’t take action to achieve it. So, get to work on your self-talk, be loud and proud about it, and lean into every real estate challenge that comes.
Because, here’s the deal: one day you may wake up with six empty houses and you are going to be tempted to question yourself. But that is when you need your reinforced mindset to stand firm.
When things get hard or tough, that little teenage girl is going to try to stand up and be heard. That is when you need to reject her ideas.
You will probably think “I do not know if I am a successful real estate investor because I have six empty houses…” But, the way you combat that lie from your little teenage inner child is to remember who you are NOW. You are a smart, independent, opinionated, and informed woman. You do not need to be controlled and steered by the fear of your youth.
Let’s be real. You will have to deal with every real estate challenge that comes, but that does not mean that you are not successful. What you do with every challenge will determine your success.
Some of the things you could do would be to panic and cave to that teenager in your mind. OR, you can get your hair up in an awful messy bun, put on your shirt or button that reminds you that you are a successful real estate investor now, and then spend the day going to the houses you need to list. You can record videos, take pictures, make lists of things to fix up, and then work out your plan to turn these trials into cash!
Because that is the goal, ladies! This is how we make that money, honey.
I know how hard it can be to do the work when in a rut, but there is nothing quite like figuring out a real estate challenge. There is so much to be gained through the struggle!
Your dreams have to be bigger than the struggle to get there. If not, the likelihood of you achieving what you want is never going to happen. So, put your big girl panties on, lace up your shoes, and get ready to take every real estate challenge head-on with the determination of your adult and confident self.
Don’t let your scared little teenage self steer your life. Tell her to sit down, shut up, and back off. You have some houses to buy. Go get ‘em.