Committing to Learn (Part 2 of 7)
If real estate investing is the route you are choosing for your future, then committing to learn will be key in how successful you are in making it work. For me it started with podcasts and quickly followed by reading multiple investment books.
Once I started listening to podcasts about investing I camped out on wholesaling. Mainly because of the issue of having so little money to get started. This allowed me to really focus on one area of real estate. People that are thinking this over for the first time will discover there are endless podcasts, many dealing with specific areas of investing; syndication, note investing, single family homes, buy and hold, flip and fix, multi-family, etc.
At first it can be daunting to really nail down your investment approach, but keep looking at all the options and follow the path that makes the most since in reaching your goals. When you find the niche that is your one, dig in and dig deep.
As I started to take notes and research various aspects of wholesaling it became very obvious this was a good thing. It creates wins for everyone involved and it truly can help people that are stuck in a bad situation (more on that in the next post).
Regardless of where you start in the investment game, committing to learn will dictate your results. It may not guarantee upward financial gains at first but if you keep learning your niche and treating it like the business that it will be, you will find success.
For me it was after six months of spending more than $2500 in marketing on our personal credit card. That seemed like a million dollars at the time as I was blindly mailing letters to a few hundred people each month with money we did have. My wife was not a fan of my new found one sided pen-pal passion.
At about the exact moment I was ready to say this may not work, a motivated seller called me from one of my letters. “Motivated seller” is investor speak for “gonna make money today.” This would become my first deal and the first time I realized those $2500 had been an investment in our future.
If I had not taken the time to commit to learn the systems to make this work then I would still be spinning my wheels in a 9 to 5 job. Find your niche. Dig in. Dig deep. Take action.