|
before rehabbing playing handyman in my own homes,
they never had the “demons” that many of the homes I have seen or rehabbed
had. In fact, if you are serious about rehabbing, it's important to
prepare yourself mentally for the “demons” that you may encounter. What
are these demons you ask? I’ve put them in two categories: External and
Internal.
External demons are the things you see or smell when
you first walk through a property. You might see cockroaches, ants,
spiders, termites, bees, rats, raccoons, and other creatures - dead or
alive. Vagrants - hopefully alive. There might be animal or human
excrement, urine, blood, syringes, broken glass, gun shells, etc. There
may be the rank smell of standing water, mold and the remains of all the
above. So there you are, you just opened the lock box and now the door.
You are standing in this house alone, there are no lights except for the
glow of your flashlight, it's quiet except for an occasional chirp from a
smoke detector and there isn't a cop in sight. This is where your Internal
demons come into play.
Internal demons are the fears we all have inside of
us. They are the things that keep us from fulfilling our dreams and goals.
It might not be until you walk into that dark, creepy house that you
become aware of what your demons are. It might not be until you have to
walk down into that dark dingy basement alone and something scurries by
your feet, or the furnace suddenly kicks on that you start feeling your
own heart beating and realize that you haven't been looking at this
property like a rehabber should - objectively.
You can't possibly make a good buying decision in
this state of mind. You need to start examining what your demons are. I,
too, have experienced my own demons and to others they may be laughable.
Due to some bad experiences as a young child, I was afraid of toilets and
sump pumps. Until recently, I was afraid of karaoke in front of others.
For some people, it might be a fear of failing or succeeding. If you are
to be successful as a rehabber and real estate investor, you will need to
identify your external and internal demons. We all have them.
How does one overcome fear? Since fear is False
Evidence Appearing Real, you will need to educate yourself on what it is
that scares you. For me, it required me to take a toilet apart and
understand how it worked, what it would and could do, and what it won't
do. I became an expert on toilets and sump pumps. I now have taken out and
put in many toilets and sump pumps without fear. I have a better
understanding of insects and see dollar signs when I see mold or smell
urine. Education is often the best way to overcome one's fears.
Some fears are best faced with the help of others or
therapists who spend years educating themselves so they can help you put
an end to irrational thinking. When walking in those creepy houses, bring
a friend or associate. Two flashlights are better than one.
This past February, I was in the Bahamas with 14
other members of my mastermind group. My mentor gave me a year to face my
fear of doing public karaoke. It was the support and encouragement of
these wonderful people that enabled me to get up and sing “My Way” in a
crowded restaurant. I closed the door on that fear and opened the door to
many possibilities I would have previously turned down, not in singing,
but in real estate. Imagine how many doors you could open by facing your
demons.
****************************************************************
Scott Rubin is an active investor and founder of 5
Star Property Solutions, Inc. For more information, he can be reached at
847-579-4830 or visit him on the web at www.a5starproperty.com. |
