Hi, everyone!
It's been a while since I've posted on here. Truth is that I was getting stumped. I was getting stumped about what to write. More importantly, I was getting stumped about what to DO.
I don't know the truly right answer, but I did something that I should have done a LONG time ago as a beginning investor. I looked up some houses on Yahoo Real Estate (you can use other sources, too), and I drove by the houses.
This forced me to take action. I needed something to get "my ball" moving again.
This forced me to look at neighborhoods.
Hopefully, I can look at some of these houses with a realtor sometime soon. However, even if that doesn't materialize, I started thinking of real estate not only as an isolated property but as being part of a neighborhood--part of the whole package.
This takes some time. Well, the research takes very little time, but driving to find the places does. I bet it will take less time as I get to know my surrounding neighborhoods better.
So you beginning investors...if you aren't already, go check the web for places to visit.
Showing posts with label motivation. Show all posts
Showing posts with label motivation. Show all posts
Wednesday, September 30, 2009
Saturday, September 12, 2009
Don't Understand Everything? Don't Worry!
I am writing this post from a beginner's perspective.
Have you ever gone to a talk, especially about real estate, and it seemed like you didn't understand everything?
I can't speak for anyone else, but this happens to me a lot.
Last Thursday evening, I went to the Oakland REIA. It covered real estate-releated legal updates and advice. A lot of people were saying how great this talk was, and it probably was. However, I could not take advantage of everything she was saying.
So did I waste my time? Other people may disagree, but I say, "NO!"
Why?
Because I understood about 30% of it, I was discouraged, at first. Then I realized that most of what little I understood on Thursday, I would not have understood AT ALL a year ago. Even if you don't know everything, you can learn things an managable increments, little by little. It accumulates quickly.
Plus, it gives me an opportunity to write down a couple of things to look up later. I may not understand during the talk, but I know something that I have to learn. I can learn it at my pace. Even if I don't understand it today, the next time I hear something about it, I will be in a better position to receive that same or similar info.
Lastly, I love meeting people at these events. You get a chance to learn their insights and experiences. Plus, the better people are there to encourage you. One person, in particular, just told me, "Just start." Obviously, you should do your due dilligence before making ANY investment, but it gives me hope that real estate is less complicated than my beginner's mindset might be making it.
So go to as many talks and talk to as many people in the field as you can. You might not understand everything, but you still can get something from it. More importantly, it will accelerate your learning--meaning that it puts you closer to your goal more quickly.
Have you ever gone to a talk, especially about real estate, and it seemed like you didn't understand everything?
I can't speak for anyone else, but this happens to me a lot.
Last Thursday evening, I went to the Oakland REIA. It covered real estate-releated legal updates and advice. A lot of people were saying how great this talk was, and it probably was. However, I could not take advantage of everything she was saying.
So did I waste my time? Other people may disagree, but I say, "NO!"
Why?
Because I understood about 30% of it, I was discouraged, at first. Then I realized that most of what little I understood on Thursday, I would not have understood AT ALL a year ago. Even if you don't know everything, you can learn things an managable increments, little by little. It accumulates quickly.
Plus, it gives me an opportunity to write down a couple of things to look up later. I may not understand during the talk, but I know something that I have to learn. I can learn it at my pace. Even if I don't understand it today, the next time I hear something about it, I will be in a better position to receive that same or similar info.
Lastly, I love meeting people at these events. You get a chance to learn their insights and experiences. Plus, the better people are there to encourage you. One person, in particular, just told me, "Just start." Obviously, you should do your due dilligence before making ANY investment, but it gives me hope that real estate is less complicated than my beginner's mindset might be making it.
So go to as many talks and talk to as many people in the field as you can. You might not understand everything, but you still can get something from it. More importantly, it will accelerate your learning--meaning that it puts you closer to your goal more quickly.
Wednesday, September 9, 2009
(Some of) My Goals
Hi, everyone.
I was talking with a couple of people last night who are (1) really nice people and (2) really intelligent, and they made a good point. I will try to bring real estate value to this blog, but I can and should bring other things, too.
I'm about to attend a webinar; so this has to be quick. However, I want to state a couple of my key goals.
I want to learn how to make money so that I can teach other people how to make money. Personally, I don't really care about getting a big home or driving a fancy car. I really like flexibility, but I really like helping other people. I'm a teacher by nature, and I have a degree in Math and Statistics. Now there is some use for these things. How much more use do MOST people have for making money?
Once I achieve this first small step, I have bigger plans, but I tend to be more motivated to help other people. So when I feel lazy, I'm more likely to remind myself that I'm not just cheating ME; I'm cheating other people, some of whom I've already met, others I haven't, yet. There will be many people in my future who will depend upon the knowledge that I provide them.
I look most forward to this day!
For those of you reading, if you have any suggestions how I can speed up this process, let me know.
I was talking with a couple of people last night who are (1) really nice people and (2) really intelligent, and they made a good point. I will try to bring real estate value to this blog, but I can and should bring other things, too.
I'm about to attend a webinar; so this has to be quick. However, I want to state a couple of my key goals.
I want to learn how to make money so that I can teach other people how to make money. Personally, I don't really care about getting a big home or driving a fancy car. I really like flexibility, but I really like helping other people. I'm a teacher by nature, and I have a degree in Math and Statistics. Now there is some use for these things. How much more use do MOST people have for making money?
Once I achieve this first small step, I have bigger plans, but I tend to be more motivated to help other people. So when I feel lazy, I'm more likely to remind myself that I'm not just cheating ME; I'm cheating other people, some of whom I've already met, others I haven't, yet. There will be many people in my future who will depend upon the knowledge that I provide them.
I look most forward to this day!
For those of you reading, if you have any suggestions how I can speed up this process, let me know.
Sunday, September 6, 2009
3 Reasons to Go to Local REIA's
This post is for beginners and experienced investors.
Go to your local area REIA's (Real Estate Investment Associations). As the title promises, I'll give you three (3) reasons why you should attend REIA events:
1. Relevant News: They will help keep you current. You might know nothing; you might know a lot. However, you get a chance to hear about new laws, proposals for laws, new techniques, new products, websites, helpful software, classes, etc.
2. Networking: You get a chance to meet people. You never know when you will meet someone who can lead to a buyer, seller, an eventual partner, a vendor, a new idea, or just simply a motivational comrade.
3. Keeps You Moving: An event forces you to commit to spending time developing your real estate investing. After a while, you will see some of the same people, and some of these people will ask you about your progress. There are times that you will need or want this external motivation.
I live in the Detroit Area, and there are several around here. I've been to two (2) of them:
Oakland (County) REIA...http://www.reiaofoakland.com/
Macomb (County) REIA...http://www.reiaofmacomb.com/
While nothing ever is perfect, both of these are very good. Let me know if you have any questions about either of these. Personally, I am more familiar with the Oakland REIA.
For those who are insterested, there are others in Southeast Michigan:
Wayne (Country) REIA...http://www.reiawaynecounty.org/
Genesee (County) Landlord Association...http://www.geneseelandlordassoc.org/
Detroit Real Estate Investor Network (I cannot find a website for this.)
National Real Estate Network...http://www.megaevent.com/
Let me know if you know any others.
Go to your local area REIA's (Real Estate Investment Associations). As the title promises, I'll give you three (3) reasons why you should attend REIA events:
1. Relevant News: They will help keep you current. You might know nothing; you might know a lot. However, you get a chance to hear about new laws, proposals for laws, new techniques, new products, websites, helpful software, classes, etc.
2. Networking: You get a chance to meet people. You never know when you will meet someone who can lead to a buyer, seller, an eventual partner, a vendor, a new idea, or just simply a motivational comrade.
3. Keeps You Moving: An event forces you to commit to spending time developing your real estate investing. After a while, you will see some of the same people, and some of these people will ask you about your progress. There are times that you will need or want this external motivation.
I live in the Detroit Area, and there are several around here. I've been to two (2) of them:
Oakland (County) REIA...http://www.reiaofoakland.com/
Macomb (County) REIA...http://www.reiaofmacomb.com/
While nothing ever is perfect, both of these are very good. Let me know if you have any questions about either of these. Personally, I am more familiar with the Oakland REIA.
For those who are insterested, there are others in Southeast Michigan:
Wayne (Country) REIA...http://www.reiawaynecounty.org/
Genesee (County) Landlord Association...http://www.geneseelandlordassoc.org/
Detroit Real Estate Investor Network (I cannot find a website for this.)
National Real Estate Network...http://www.megaevent.com/
Let me know if you know any others.
Monday, August 31, 2009
Getting Started: Motivation: Ask Questions
I'm new in the real estate game. While there are some investors who seem very elitist, the good news is that MOST people seem to be really helpful.
What does this have to do with motivation?
When you're beginning something new, especially something as big as real estate, it can be overwhelming. I have a lot of suggestions for motivating yourself. What is one of easiest ways to do this? Simply find other experts and ask for advice.
Most people LOVE to be experts. Plus, you get some ideas at a pace that is MUCH quicker than you can learn by reading a book. They can talk to you about their personal experiences. If they're really good, they can adjust their explanation to your understanding level.
So, feeling overwhelmed and don't know where to start? Just ask!
What does this have to do with motivation?
When you're beginning something new, especially something as big as real estate, it can be overwhelming. I have a lot of suggestions for motivating yourself. What is one of easiest ways to do this? Simply find other experts and ask for advice.
Most people LOVE to be experts. Plus, you get some ideas at a pace that is MUCH quicker than you can learn by reading a book. They can talk to you about their personal experiences. If they're really good, they can adjust their explanation to your understanding level.
So, feeling overwhelmed and don't know where to start? Just ask!
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