Every day we are engaging other investors and Albertans in conversations about real estate investments. The title of this blog is, by far, the most common phrase we hear these days. “Taxes just jumped up for Calgary!” “Property values are dropping.” “What will happen if Party ABC gets elected—the entire province will sink into the abyss…” “We don’t just have one mountain to climb to get out of this rut in Alberta, we have many….”
As human beings we excel at finding excuses. We find facts to support our case, and others with a similar philosophy to join our parade. We not only look for the downside, we focus on it, obsess over it, until it becomes our belief and our reality. Do you know the story of the crabs in the bucket? It is often told at REIN meetings. If you put one crab in a bucket, that little crab will find a way out. But if you put a bunch of crabs in a bucket, as soon as one tries to get out of the bucket, others will try their best to prevent the escape, to prevent the success of reaching freedom again. The crab story is a metaphor for some social circles where any attempts at striving to improve your situation are met with resistance and even deliberate “clawing” to bring you back to the bottom of the bucket.
But real estate investing in Calgary today is really a tale of two mindsets. The one I just described, and the one where people are focused on opportunites. It is an example of how your mindset actually creates the way you listen to a story: in this era, we all have access to the same information, the only question is how you interpret those facts and turn them into beliefs.
When faced with adversity, obstacles, losses and setbacks, what do you think, and what do you do? The past 4 to 5 years in Calgary have been full of stories of hardships of all kinds; real estate investing is no different. Do you join the crabs at the bottom of the bucket, commiserating over this terrible situation and reminiscing about the “good ole’ days of 2014?” “Flips were so easy back then.” Or do you double down, give it everything you’ve got, and work harder? Or do you find the new opportunities, and the creative solutions to problems? Is your WHY big enough that you won’t leave a shred of doubt on the table when you’re done trying your very best? Will you do whatever it takes to prove yourself, and continue moving forward—all the while getting stronger, smarter, more efficient? Do you have the passion, the grit, the work ethic of an Olympian?
Because really, life/business/sports and real estate are quite similar journeys. When faced with a mountain to climb, or even multiple peaks, what thoughts will you have and what actions will you take? What will you do when others are telling you that you won’t make it and you can’t do it? Today’s blog is a reminder that your mindset and your work ethic are your choices to make—and that life outside the bucket can be full of wonderful adventures and amazing views. It’s not easy, but it is worth it.
