The world of real estate investing can be full of obstacles that stand in the way of success. Some of these obstacles may seem impossible to overcome, and some may pop up continuously. Real estate investor Nick Trimble knows exactly how challenging certain obstacles can be. Today, he’s sharing some of the biggest business obstacles he has overcome, and why it’s important to persevere, despite these challenges.
Overconfidence as a newcomer
Confidence can be a crucial asset, especially when you’re a beginner or a newcomer to an industry. But Trimble says it’s also possible to become overconfident in the beginning, which can lead to some crucial mistakes and missteps. When he was first starting out in rental property investing, Trimble says he definitely was overconfident when he worked on this project, and he went through a learning curve. It’s important to be confident, but also to acknowledge that you do not know it all. That way, you’ll be open to learning new things from people who have been around the industry longer, and you may be able to avoid some critical mistakes.
Any business comes with its financial investments and burdens. This can be challenging and stressful to experience. Trimble certainly has experienced these kinds of obstacles, as a real estate investor who comes from humble beginnings. His advice? To take on new projects slowly. Trimble started with one rental property, which he worked to rehab, before securing a tenant. The tenant in that unit has been stable, and has lived there for years, which helps provide Trimble with financial stability. Especially if you’re just starting out in your business and your finances aren’t stable, take your time with starting new projects and expanding your work, in order to spread out the financial burden and mitigate stress
As a real estate investor, it’s difficult to know when the work day ends. This is the same with people who work in many businesses, especially for entrepreneurs and for those who are self-employed. It can be tough to put down your work for the day and disconnect, which can lead to overworking and fatigue. When you’re overworked, you’re more likely to make mistakes, have poor judgement, and even get yourself sick. Overworking can be a big challenge, but Trimble overcomes it by making sure to put his work for the day down at a reasonable time. He tries to stay firm in his daily deadlines, and when he’s done for the day, he takes time to do things he finds therapeutic, such as working out and eating healthy.
About Nick Trimble
Nick Trimble is a real estate investor experienced in rental properties, house flipping, and wholesaling. He was recently featured in Yahoo! Sports for the launch of his new website, where he shares real estate advice. You can follow him on Facebook, Twitter, and Instagram.