So you’re investing in real estate…but are you investing in yourself? Here’s the harsh truth – none of us are naturally adept at building an ideal financial future on our own. For some, financial success comes from parents who instill lessons of self-discipline and the value of a dollar. For others, it comes from personal research, lots of reading, or even degrees and certifications.
No one expects a passive real estate investor to be an absolute expert. You didn’t sign up for a passive gig just for it to turn into a full-time job!
But listen: we don’t want you to stay stuck in a beginner mindset. If you’re going to flourish in this business and minimize your risk, you’ve got to invest in yourself. Grow your knowledge, your experience, and your understanding. See if you don’t get results!
Here are just a few ways real estate investors can invest in themselves for future success.
3 Methods for Real Estate Investor Self-Improvement
Method #1 – Connect with a Mentor or Coach
What’s the quickest way to get better at something? Put it in a sports context or learning a musical instrument. Is it better to grab an instruction book and figure it out yourself or to hire someone to teach you? Leveraging experts is always the fastest path to your own expertise. It’s the question of whether you want to rough it on the uncharted path or merge onto the one paved for you. Hard way or easy way.
But how do you find a mentor/coach?
- Networking
Attend local real estate investment meetings, conferences, and seminars. Networking events provide opportunities to meet experienced investors who may be willing to mentor or coach you. Some high-profile investors offer mentoring programs, too.
- Online Platforms
Explore online platforms dedicated to real estate investing. Websites like BiggerPockets, LinkedIn, or Meetup often have groups and forums where you can connect with experienced investors. While online advice isn’t a substitute for custom-tailored, experienced mentorship, it can provide a gateway.
- Real Estate Courses and Workshops
Consider taking real estate courses or attending workshops conducted by experienced investors. This can be an excellent way to learn from someone with practical experience who may be open to mentoring. There’s a caveat here: do your due diligence before you buy in. Ask around, solicit reviews, and ensure you’re signing up for something worthwhile. Too many real estate “gurus” hold these seminars and workshops to upsell you on their “secret” to success.
- Ask for Referrals
If you know someone in the real estate industry, ask for referrals. Personal recommendations can be a reliable way to find a mentor or coach.
- Social Media
Utilize social media platforms to connect with experienced real estate investors. Join relevant groups on platforms like Facebook or LinkedIn and participate in discussions to build connections. In fact, we have an REI Nation group on Facebook ourselves!
Mentors are there to determine the best route to reach your financial goals.
Method #2 – Take Advantage of Resources
What about other ways to invest in yourself? For one, take advantage of the information all around you. It’s the information age. The data and information we can find are more complete, up-to-date, and valuable than ever. We encourage you to read books, listen to podcasts, review the statistics, and conduct authentic research.
Don’t limit yourself to your specific investment niche, either. Consume quality content on finances, entrepreneurship, business, investing, and real estate in general. A holistic approach serves investors well.
Method #3 – Pursue Relationships with Like-minded Investors
Finally, build meaningful relationships with other investors. (Online is a great way to discover like-minded investors who share your ambitions and strategic approach.) Investing solo can be lonely. It can leave us prone to losing perspective. It’s not always enough to rely solely on an advisor or single mentor. Establish yourself in a community and be willing to ask questions. If things are going right, tell your peers. If things are going wrong, ask for advice. If you’ve been there, done that, share your experience.
You’ll be better equipped to discover new opportunities and gain much-needed perspective.
At the end of it all, be willing to invest in yourself. It may cost you some time and money, but at the end of the day, you’re your own best asset. So, strive to meet your full potential!
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