Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

3 Reasons you Won't Buy Rental Properties

14 Sept 2020 · 2 min

Watch on YouTube

1:58

In this short, conversational video, Cody outlines the three main psychological and situational barriers that prevent people from purchasing their first investment property. First, he argues many are not fully convinced of the payoff because their financial goals are modest, leading to insufficient commitment. Second, he highlights the lack of a supportive, like‑minded team or network that shares ambitious real‑estate goals, which hampers decisive action. Third, he points out the common belief that one lacks the time or money, which actually stems from a deeper lack of commitment to prioritize and raise capital. Cody urges viewers to set higher targets, surround themselves with peers who push them, and commit both time and resources to overcome these obstacles, ending with a motivational call to avoid these pitfalls.

Chapters

Hey, what's up guys? This is Cody, and tonight's short video is all about the top 3 reasons that you will not buy your first piece of investment real estate. I want to kick this off really quickly and say that number 1 is that you're not fully convinced that it's going to work. Most folks are not completely sold that if they do this long enough that it will pay off. Their goals are not quite big enough, so the payoff isn't big enough. If you're working for $20,000 or $30,000 a year in passive income, it's not the same as having a $200 million real estate portfolio. And so where are you setting those targets? Because if you set it high enough, you're gonna stay committed and you're gonna want to jump into this. You're not gonna be questioning every single small decision that you're making. Number 2 is that you don't have folks in your life, you don't have a team around you with the same targets as you, that you want to grow for yourself, your family, for your legacy. And that's hindering you from getting to that next level. You don't have folks who can push you to that next level, and so it's keeping you back from making those split-second decisions on deals that you know are the right deal for you, that you deserve it, you can afford to do it, and it's costing you money not to do it. So get around folks who are pushing you to make that decision. If you're the smartest one in the room, you're in the wrong room. So find that room where you can get with folks who have like-minded goals and start working towards them together. Number 3 is you either think you don't have the time or you don't have the money. And really that comes down to a commitment. If you don't have your commitment and you don't have money, you're not going to raise the money. And if you don't have the time and you don't have the commitment, you're not going to find a way to delegate that so that other folks can help you achieve your goals. So it really comes down to get a commitment to getting your money right, get a commitment to making the time for your future, because if you don't do it, no one else will. With that, hope you guys have a great night. Those are 3 reasons you won't buy a piece of real estate. Now make sure you don't follow those. Thanks, bye.