There is typically a learning curve and/or stretching outside your comfort-zone with regards to beginning to invest in a new real estate niche.
This week I would like to discuss something known as Transitional Vulnerability. Knowing what to expect and not expect during this stage of starting any new business will help ensure you can be prepared and not caught off guard.
Transitional Vulnerability is one stage of learning a new business or skill-set when you are the most vulnerable to immediate failure and becoming discouraged. Transitional vulnerability can last weeks, months or a lifetime on your own.
Some examples of Transitional Vulnerability:
- When a butterfly first hatches from its cocoon it is in a state of transitional vulnerability.
- When a child is being born, both mother and child are in states of transitional vulnerability.
- As a baby bird learns to fly it is in a state of transitional vulnerability.
- When you start a new job you are in a state of transitional vulnerability.
- As you begin a new hobby or sport you are in a state of transitional vulnerability.
Investing in real estate is no different.
However if you fail with investing you are out literally many thousands of dollars over your lifetime assuming you never returned to investing.
When you choose to begin a side business of investing in real estate and/or investing in mobile homes for profit you are in a state of Transitional Vulnerability for at least your first few deals. This is based solely on my own experience of helping others in this field.
Make sure to understand that you will be faced with many common and unique challenges to overcome. These challenges will encourage you to stumble, become …read more