Mastering Real Estate Investing
Whether you are a novice or a veteran real estate investor, you may suffer from the lone ranger syndrome–as I did when I first started. The learning curve is steep for lone rangers. It is often costly.
Doing everything yourself makes investing difficult. It can induce undesirable side effects in business and personal matters. It costs time, energy, effort, and money. And it spreads investors thin because so many components which are moving targets. For beginning investors with much to learn real estate investing can be overwhelming.
To run any successful business, including in investing in real estate, attention to details makes all the difference. Investors must have access to the right information at the right time, big tasks that require being team players.
We all are novices first. Everyone starts at the same place, even if one investor has more resources – money, time and so on–than another. We all must learn. And the good news is that many successful real estate investors have come before us. Observing them, learning what they do or what they lack, what to do and what not to do, and even to read their book if they have written one or take their course if they teach prompts new and even veteran investors to master real estate investing.
It is hard to overstate the truth and the value of this because learning from those who are already in the real estate business will make your life a lot easier. Learning in this way also challenges your thinking and expands your horizons. Remember that a mind once expanded never returns to its old dimensions. This alone can set you up for success and provide a blueprint.
For several reasons, I am not discussing the names of the real estate gurus out there. I endorse none of them and you must seek them out on your own. Each one of them has a different approach, even a different niche and passion–and a distinct personality. Find out what resonates with you and most of all identify the way they do business as something you can stand behind if you train with them.
It may come as a surprise that all their systems, which are essential in driving their real estate investing business, are like the next one. The fundamentals are the same, no matter the individual approach and focus.
If you desire to become a master real estate investor, engaging a mentor saves you time, often money, and headaches. Taking guidance from those with experience and results, rather than asking friends, family, business associates etc. for their opinions is the way to go. Others have opinions but lack knowledge, experience, and engagement in real estate investing.
In any serious conversation about real estate investing, ask yourself whether you and the person you are speaking with possess any of the following traits:
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- Love of the game
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- Being committed
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- Striving for excellence
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- Repetition and Frequency
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- Intensity
- Innovation
One or two of these are a good beginning but all of them are necessary to master real estate investing.
Read, attend seminars, take classes, complete training, and connect with those who inspire you and who will bring out the best in you. Then you will be on your way to becoming a master at real estate investing.
