If you think education is expensive, try ignorance. Unknown
Your first real estate investment should be a solid financial education
If you are like me, you’ve probably made a few mistakes in your investing career. Every successful real estate investor has made plenty of them. However, you can limit your mistakes and increase your odds of success by building a strong real estate investing financial education.
My biggest investing mistake happened because I didn’t know what I didn’t know. I didn’t have a team around me with experience to guide me away from danger and it cost me in both time and money. But that is a story for another day. Today, with all the education available, this does not have to be the case. You can limit your mistakes and make more money in real estate investing by having a solid real estate investing financial education.
On the flip side, by learning a few things at a seminar we attended, we were able to immediately apply what we learned to turn a potential disaster into a real asset. For example, we turned a potential $75,000 environmental mess on one of our properties, which was preventing us from being able to sell it, into a property we could sell, had a government program clean up the mess, and made a $125,000 profit. What was that seminar worth to us? Well… about $200,000 on that deal, and the event cost less than $1,000. Talk about return on investment.
Below are 4 things you can do today to start building your real estate investing.
Become a student of the industry. If you want to be successful in commercial real estate, read everything you can on it. If you want to be a successful multifamily investor, subscribe to newsletters and read blogs on multifamily real estate investing. There are numerous free information sites available including blogs, free reports, and industry publications. After that, buy a few really good books on the industry. It’s amazing how much information you can pick up that you can apply to your business.
Pick an area and focus. There are 100+ diff
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