When introduced to s a new subject or skill, trying to find out more about it it like drinking from a fire hose. When I first started the process to try and learn Chinese outside of a classroom. That was the case. While talking with folks, that is the first and largest speed bump. Here are Three initial jumping off spots for the real estate journey.
Seeing and Hearing To Believe:
Start with podcast and youtube. For time and space purposes I am going to combine Youtube and Podcasts as one. This is because they operate in a similar fashion. Youtube is visions and some podcasts are just audio. Some podcasts are just the Youtube videos without the video.
When I started there were maybe at best a handful. Now there are pages decided to real estate investing podcasts. It was a vast wild west landscape. Ten years ago I didn’t check to see how many pages pop up in a search. Today I ran a quick. Look below to see that there is lots of info out there.
While looking into the media out there, a personal rule of thumb for podcasts is check to see how frequently post and recently they posted. Don’t shy away from those. This is because some podcasts were produced similar to a netflix series.
After downloading some listen to them, listen to the actual production quality. If the production quality isn’t there, how much of the message are you able to hear? While listening to them, treat it like any radio program. If you like it and find it useful keep going back. And I apply the inverse of the 80/20 rule. If the podcast or presenter gives a good nugget of info 20% its a decent one.
Books are a great resource. Start with your local library before you buy. Just a penny saver tip. Unless you’ve already read other books on entrepreneurship, sales or general business. I wouldn’t go toward the “how to” books on real estate investing. This is because the mechanics of real estate investing can be linear and easier than learning how to change your mindset or creating the needed systems to build it as a business. At the bottom of this article, I’ll ist out a hand full of books that can help move your forward, that are timeless.
Real estate investment clubs and education companies. I am a fan of these. These are great because you can learn a lot, meet like minded folks, get access to opportunities you couldn’t find on your own. The downside is, they cost money, usually big bucks, and depending on the club will have different rules to help guide and protect their “students”. This can cause frustration with the protection. They do offer more benefits and hands on guidance that a free group might not be able to, The costly ones are the more formal ones however searching social websites you can find ones that may have free meetings or events. You may not get all the benefits of a paid one.
Listening/ watching videos on real estate investing, reading some books and meeting those who are doing it. This may sound like common sense. It is and that is the key. Many of the “tips” or “tricks” in real estate investing are common sense practices just not commonly applied.
Each asset class of real estate has nuances and will require different skills set. It takes focus, dedication and years or practice The fundamentals of business, and economics affect commercial real estate. Retail centers are the dynamic living part of the economy, not just locally but globally. That is why we invest in multi-tenant retail centers that appreciate in value and appreciate within the community.