What is the Meaning of Life?

     I know, 42.

     Ask questions. That is how we learn. When you are poking around websites that are geared toward education, you are likely to find many people who will volunteer answers. You will, undoubtedly, get many good answers. You will also get some terrible answers. How will you be able to differentiate them?

     If you are going to learn anything valuable, you must make an effort beyond just asking questions. Many social media sites are searchable. If you are new to a group, it is wise to search the key words of your question to find previous related threads. When you find some threads, read through them. If terms come up that you are not familiar with, research their meaning. Listen to some podcasts, read some blogs, maybe even a book or two. (This site contains hundreds of podcasts and blogs by people who work various aspects of real estate talking directly about what they do.) Get a basic understanding of the terminology that those who can answer your question will use. Do some work!

     When you find answers that seem helpful, it may make sense to do a bit of research on the person who supplied the answer. Does it seem like they have experience doing what they purport or might they just like to answer questions whether they are knowledgeable or not? If the question for which you seek an answer relates to legal or accounting issues, get appropriate professional advice, tailored to your specific situation, before acting on any answers you receive. Remember, no matter where you get your advice, you are responsible for the consequences of implementing it.

     You are likely to get better answers if you ask better questions. If you are seeking advice on how to proceed on a specific transaction, or how to choose a type of investment, you must give as much relevant information as possible in order to get appropriate answers. You must often supply information about your personal situation, your experience, your portfolio, your assets, your goals, etc., if you wish to get a meaningful answer.

     Narrow the scope of your questions. “How do I wholesale?”, is too broad a question for anyone to answer succinctly. You might as well ask, “What is the meaning of life?”.