This content was created by Joe Homs 949-625-4533. This content was uploaded by Joe Homs 949-625-4533. This is a YouTube video titled "How To Cure Real Estate Shiny Object Syndrome!" (recorded January 10, 2023) featuring Joe Homs 949-625-4533 delivering a solo, instructional talk about real estate investing. He advises investors to pick and master a niche (wholesaling, flipping, BRRRR, buying notes, multifamily), avoid distracting "shiny objects" like crypto, progress deliberately from one strategy to the next, do due diligence before switching, and only use hard-money lenders once experienced. The video includes practical examples (contractor management, scaling with hard money), calls to like/subscribe, and an offer to answer questions or link to related videos.
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In today's video, I'm going to show you how to cure real estate shiny object syndrome. Coming up next. Oftentimes, real estate investors move from one investment class to another without ever planting a firm foundation in one niche. These investors always seem to be doing something interesting, and that makes for great conversation, but they also tend to do little more than just tread water, financially speaking. Before we begin, make sure that you like and subscribe and share so that you can live the life you've always wanted through real estate. I made this channel to help you, the new or experienced investor. Shiny object syndrome is always out there. It's constant. It's, it's a great example is cryptocurrency. There's a lot of people that just lost a lot of money on cryptocurrency. So that shiny object, what your neighbors, what your friends are doing, that's there. It kind of distracts you. You need to be focused on what you're doing and find that niche. Okay, once you find that niche, whether it's flipping, whether it's buying notes, whether it's BRRRR, whatever it is, just hone that down to an art and continue to do it over and over and over and over again so that You don't lose that deal, the opportunities that come your way. And then if you want to focus on that shiny object, then you can start looking that way. I can tell you the progression. What usually happens is somebody will start wholesaling a property and they'll be really good at wholesaling. And then they'll go, well, you know, I probably can make some more money flipping. So then they start getting into flipping and that's great. That's a great progression. But then they start doing flipping and then they get really good at flipping. They're still wholesaling, getting the deals, then they're flipping, and now they're thinking, okay, well, I flip properties, now I need to do some buy and holds, buy some multifamily. And that's kind of the progression that people go. So wholesaling, flipping, then, then they go into multifamily. They all kind of have the same similar thing, but believe me, they're all different. So become an expert in one, then start looking at the next one. And then the next one after that. Okay, when that shiny object appears and it's in front of you, I know it's very difficult, but you need to be patient. You need to be focused on what it is that you're doing. If you want to go after that shiny object, then please make sure you do your due diligence along the way, that you investigate what's going on before you start With that shiny object. Flipping is a— flipping is a great example. Flipping— I just recently had a lunch with an investor and he's asking me about flipping and he's asking me about hard money and he's scared to use hard money. And I said, you should be scared to use hard money. The only time you want to use hard money is when you become an expert at the flipping side of it. So acquiring the properties, Okay, and, and then, and then flipping itself is an art. The next big hurdle that you have to go through in a flipping process is dealing with the contractors. So acquiring that property, dealing with the contractors, closing the property at the end of the day— if you're doing that without a lot of hiccups along the way, then it's time to expand your business. Then it's time to use hard money out there. Because instead of buying a property, you know, let's say you have $500,000 and you're buying one property. Instead of buying one property, you could probably buy 5 properties with that money using a hard money lender and get 5 times the profit. But just make sure that you know what you're doing along the way and don't let that shiny object distract you. All too often, those perceived opportunities are little more than distractions. Doing the same thing Doing the same thing over and over again may sound boring, but it sure can be effective. The dreaded shiny object syndrome is one of the most contagious, fast-acting afflictions in the history of the world, and it must actively be guarded against. If you're new to wholesaling and want to know if wholesaling is dead, click on this video right here. If you have any questions, feel free to reach out anytime. I'm always here to help.
