Real Estate Investing Basics

Real Estate Investors: Invest In Yourself First

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Real estate investors can often become so preoccupied with the mechanics of buying and selling real estate that they forget to make the most important investment of all; an investment in themselves. It can seem especially difficult in today’s economic landscape to take the time and energy to take care of and improve yourself but in reality there is no investment that pays so a high return as an investment in yourself.

The payoffs of investing time and energy into yourself may not seem immediately apparent however the payoffs could have a ripple effect that continue to accrue for your entire life. Here are some good ideas for self investments that can eventually have a beneficial impact on your real estate investing over time.

Here are a few great ways to invest in yourself and reap the rewards later:

1) Get Healthy

Science is proving that your state of general health can affect all areas of your life. If you eat healthy foods like vegetables, fruits and grains your body will thank you by giving you more energy and clearer thoughts. Avoid animal products and chow down on more leafy green vegetables.

The Investment:

  • You may have to pay more money for healthier foods.
  • It takes more time to prepare healthier foods.
  • At first you will find that your body may go into shock if you are not accustomed to eating healthy. This is known as the body’s detox mode. It should only last a week and then you will start to feel a lot better.

Investment Payout:

  • Higher levels of energy throughout the day.
  • Improved mood and mental clarity.
  • A reduction in your chance of getting a chronic illness.
  • Less time lost to sick days.

2) Get Organized

As you progress higher in any career path, real estate investing included, it becomes more and more important to develop a system of organization. Proper organization is an essential ingredient for becoming more efficient. Literally, there are thousands of books dedicated to organization systems. Some of these books are written for real estate investors in particular. The system that you ultimately chose to follow is not as important as the fact that you are using a system.

The Investment:

  • A few months to change your habits.
  • The purchase of a few books for organization ideas to implement.
  • The purchase of notebooks or specialized computer software.

Investment Payout:

  • Increased efficiency.
  • A reduction of stress.
  • Less procrastinating.
  • A clearer picture of your life.
  • The ability to handle more real estate deals faster.

3) Get Networking

Success in any career or endeavor depends much more on who we associate with then many people realize. The people you network with can make all the difference between success and failure as a real estate investor. You need to start making time for networking with people outside of your current circle of friends and colleagues. I recommend the website, that has free investment and professional group meet ups in most major cities. The possibilities for networking are endless.

Cost of Investment:

  • The time you take to meet more people
  • The emotional tax you might experience from putting yourself out there.
  • The money you spend on going out to lunch or going to conferences to meet and network with new people.

Investment Payout:

  • Mental boost. (Your network can be your eyes and ears in giving you important information)
  • Social grease. (“It’s not what you know, it’s who you know,” may be a cliche but that doesn’t make it false)
  • Emotional support. (You can leverage friends for encouragement, ideas or mentoring)

4) Educate Yourself

Read as many books as possible. Be creative. You shouldn’t limit your reading to only real estate investment books. Take a break and read some fiction for a change. You will be surprised about how many creative business ideas can be spurned when your right brain, the creative side, is put into action.

Cost of Investment:

  • The time you spend reading.
  • The price of books. Most books can be purchased used at an online bookseller. This will save you a lot money.

Investment Payout:

  • You will learn more.
  • Enhance creativity.
  • Reading can be fun and relaxing.
  • Reading will enhance your vocabulary.

Photo Credit: gabrieleventi

    ben leefield
    Replied over 11 years ago
    I totally agree with you – get networking and increase your web presence, so that you can be easily found. Search for and find the people you are looking for to help you move forward!
    Jackson Hole Real Estate Blogger
    Replied over 11 years ago
    Ted, One of the things you touch on, is making yourself healthy can also help make you successful. I have found that when I take the time to ride my bike to my office – I tend to have a clearer vision when I sit down to do my morning review of the Jackson Hole Real estate market and new offerings. Which then leads me to having a greater depth of knowledge on my market. Thanks, Rick
    Jonathan Blackwell
    Replied over 11 years ago
    Agree on all of the above. Obviously, the local REIA association, but don’t forget about loan officers as well. We come across a fair amount of distressed homeowners that need to sell fast for various reasons.
    Jonathan Blackwell
    Replied over 11 years ago
    Agree on all of the above. Obviously, the local REIA association, but don’t forget about loan officers as well. We come across a fair amount of distressed homeowners that need to sell fast for various reasons.