Table of Contents - #FreeFlowFriday: Fear of Being the Black Sheep of the Family with Dave Dubeau
Welcome to Free-Flow Friday, powered by the Property Profits Real Estate podcast. I'm Dave Dibble and I'm very excited to give you an over the shoulder learning experience around raising capital, as well as other tips, tricks and strategies to help you on your real estate investing journey. So let's start let's discover together. So I think I've shot myself in the foot. I don't know if I can come back from that. So I feel uncomfortable talking with people about what I'm up to as real estate. But here's the good news. And Steve Dubow, again, from the joy of finding investors and raising capital. And today, I want to talk to you about another one of the major pitfalls I see people suffering from when it comes to starting the journey of raising capital and working with other people's money on their real estate deals. And that's all about the fear of alienating their friends and their family members. OK, so a little bit different than the fear of rejection. We talked about a couple of videos ago. This one's all about being concerned about being ostracized by your own friends and your own family. And this is perfectly normal. And quite frankly, a lot of us have done a few things from time to time that could alienate us from our friends and family. One of the big things I see people coming up with is Dave. You know what? A few years ago, I took a crack at this whole network marketing thing, MLM thing. I got involved in this thought I was going to make my millions thought. All my friends and family would make the millions. Rano made a big splash and I didn't make my millions and my friends and family didn't make their millions, got a few of them involved. But basically it was a weird situation. A lot of people were uncomfortable. So I think I've shot myself in the foot. I don't know if I can come back from that. So I feel uncomfortable talking with people about what I'm up to as real estate bust. Fair enough. Here's the good news and here's the other good news. The good news is you're not alone. Millions and millions and millions. I think the last time I heard over thirty five million people have taken a crack at network marketing one one way or the other over the years. OK, so you're in good company and most have only a tiny sliver of people actually ever make it in network marketing, which is one of the reasons. Another one of the reasons I love real estate so much, it's got a much, much higher, exponentially higher success ratio. OK, so if you've fallen flat on your face before in the past, whether it's through network marketing or a failed business or whatever, it can be over top and bottom line, I think about it. Everybody loves a comeback story. Just think of Tiger Woods wasn't that long ago that he was in all that trouble with his ex wife and screwing around on her and all that stuff. And that was front page news that was on every news show that was all over the place. So, yeah, he had an egg on his face for quite a while, but he turned that around. He didn't let that stop him. Plus, his golf game just sucked for decades. Right. But as of this time, he's started making a comeback and everybody is a big Tiger Woods fan. So what am I trying to say? Everybody loves a comeback story. So the way to address this is just be upfront about it and you can turn lemons into lemonade and say, hey, you know what? A few years ago, you might recall I took a crack at X, Y, Z business. It didn't work out the way I hoped it would. And through that I learned a lot. And this is one of the reasons why I'm so passionate about real estate investment, blah, blah, blah, blah, blah, about that. All right. So you can turn lemons into lemonade. Don't shy away from your past mistakes. Show how they have been stepping stones to get you where you are today. Well, hey there, thanks for tuning into the property profits podcast, if you like this episode. That's great. Please go ahead and subscribe on iTunes. Give us a good review. That would be awesome. I appreciate that. And if you're looking to attract investors and raise capital for your deals, that may invite you to get a complimentary copy of my newest book right back there. There it is, the money partner formula. You got a PDF version at Investor Attraction book, dot com again, investor attraction book, dot com ticker.