Summary

The author of the article, a real estate investor, shares his experience with imposter syndrome and how overcoming various challenges, including a tragic fire at one of his properties, has provided invaluable lessons and a sense of earned expertise.

Abstract

The author discusses the journey of growing from a single condo owner to managing a 24-unit apartment complex, gaining visibility and respect within the real estate community. Despite feeling undeserving of the accolades due to imposter syndrome, a series of unfortunate events, including a fatal fire, bed bugs, and property management issues, have taught him more than any book or seminar could. He reflects on the wisdom imparted by Sean Stephenson, a motivational speaker with brittle bone disease, who taught him to view challenges as opportunities for growth. The author realizes that these experiences have been a crucial part of his education and have truly earned him his place in the industry.

Opinions

The author initially felt unworthy of the recognition he received for his real estate investments, indicative of imposter syndrome.
He believes that the universe tests him with challenges that ultimately contribute to his personal and professional growth.
The author values real-world experience over theoretical knowledge, emphasizing that the lessons learned from his property management disasters could not have been gained from books or seminars.
He finds strength and perspective in the words of Sean Stephenson, who faced significant physical challenges yet became a source of inspiration and help for others.
The author acknowledges that each hardship he has faced, including the tragic fire, has been a formative experience that has justified his position and success in real estate investing.

This is the Best Cure for Imposter Syndrome

Tough experiences earn it

As I progress forward with real estate investing, I’ve started to gain more visibility. I went from a single condo to multiple single family homes, to a 24 unit apartment complex, and as I did so, people began inviting me out for lunch or coffee so they could pick my brain. I was also a guest on a podcast, sharing my biggest lessons learned.

I’m more than happy to share all my knowledge and experiences with anyone who asks, but sometimes it feels like people give me more credit than I deserve.

I don’t feel as though I’ve earned it quite yet.

This is known as “imposter syndrome,” and I’m told that if I’m feeling this way, I’m probably doing better than I think I am.

Sometimes though, it seems as if the universe likes to throw little tests at me.

Last Sunday morning, I got a call from my property manager.

When you get a call from your property manager on a Sunday morning, it’s never good news. But I wasn’t expecting this.

“Mike, I have some important news for you… you’d better sit down for this.” he began.

Uh oh.

He took a deep breath and continued. “We’ve had a fire at the building early this morning. 4 units have been damaged.”

My heart began racing. Oh my God! That’s terrible.

“That’s not the worst news, I’m afraid. Unfortunately, one life was lost.”

As he went through the details, my heart sank. I couldn’t believe I was hearing this. Although the fire was contained quickly, I felt absolutely heartbroken for my tenants. Somebody died on my property. Other tenants lost everything they owned. No matter the cause, I couldn’t shake the thought.

I spent the next couple days in a dark place — I couldn’t help but dwell on it. I got stuck there, and couldn’t find my way out.

But eventually, I remembered something that a legendary human being named Sean Stephenson would say.

“This didn’t happen to me, this happened for me.”

Me with Sean Stephenson (photo by author)

Sean was born with brittle bone disease, and would be confined to a wheelchair for life. He would never grow taller than 3 feet. Somehow, he found the strength to take his condition and use it as his strength. He became a world renowned motivational speaker, author and therapist, helping millions of people come to terms with their traumas and self image issues.

And I’ll never forget those words he said, and hammered home again and again by my closest friends. “This didn’t happen to me, this happened for me.”

While I thought about that, my mind wandered as I imagined my next investor breakfast. I gather downtown with other real estate investors every other Friday to network and learn from each other.

“Guess what, guys?” I imagine saying with sarcastic enthusiasm. “We had a fire!”

There’d be a collective gasp in the room. And then from the corner, one of the big dogs in our group would say something like “Ah, your first fire! Welcome to the club.”

And that’s when I realize that I’ve been through more challenges, more disasters, and more mistakes with this property than you can imagine.

I had an appraiser decide the place was a meth lab, and I had to conduct an environmental study before the bank would fund my loan.
I’ve dealt with bed bugs.
I’ve dealt with a busted pipe that created a subterranean lake of sewage under my apartment.
I’ve had cops bust down the door searching for a tenant’s shithead kid.
I missed the deadline last year for the 25% tax exemption.
I fired a terrible property manager, only to replace him with someone even worse.
I’ve been through section 8 housing crap, nonpayment, and evictions.

Through all these things, I not only hung in there and made it through each of these disasters, but the lessons I learned became the most valuable education I could have ever asked for.

You can’t gain this knowledge from a book. You can’t gain it from listening to podcasts. You can’t gain it from a seminar.

You only gain it by going through it.

The fire is one more experience I can put under my belt. Yeah, I dealt with that too.

I am earning it. This happened for me.