Imagine sitting through a conference on buying multifamily properties, only to find that most people in the room do not even own investment properties. This was the scene painted by a speaker at a seminar years ago. The shock of this revelation lingered, prompting a deeper look into the phenomenon of inaction disguised as progress in the world of investing.
- The Seminaraholics: The term "seminaraholics" was coined in jest for individuals who compulsively consume expensive training programs, yet fail to act on the knowledge gained. This type of behavior is futile and counterproductive in the long run.
- Action Faking and Hustle Culture: "Action faking" is a concept popularized by M.J. DeMarco to describe the illusion of progress without tangible results. It is prevalent in the "hustle culture," where working hard is prioritized over working smart towards achieving real success.
- Easier to Fake Progress Than Make It: Delving into personal experiences, the author highlights how action faking can impede real progress in endeavors like learning new skills or launching a business. The comfort of action-faking often outweighs the commitment required to endure the real journey of growth.
- The Trap of Action Faking: The trap of action faking extends beyond personal hobbies to professional projects like starting a construction company in the real estate sector. Despite efforts, the lack of focus on essential tasks leads to perpetual busyness without substantial development.
- Escaping the Action Faking Cycle: The concept of action faking holds significant implications for aspiring real estate investors. Engaging in superficial activities like reading books or attending seminars should not be mistaken for tangible progress in building a successful real estate portfolio.
- The Real Work of Real Estate Investing: Reading and learning from various sources are valuable but must be complemented by actionable steps like making offers and performing due diligence. True growth in real estate investing stems from commitment to the practical aspects of the business.
In conclusion, while the allure of action faking may seem attractive, success in real estate investing demands genuine effort and strategic action. Venturing beyond the comfort of superficial tasks is essential to carving a path towards long-term success in the industry. So, let’s break free from the cycle of action faking and embrace the real work of real estate investing to achieve our investment goals.
