Finally, a post that exposes the potential dangers of "free tools/stuff" with no or little guidance.
I have to agree with @Ben Leybovich that these types of tools should be taught first and given out second. Without doing so could create a false sense of security and Real Estate is more than just a few numbers on a spreadsheet or some fancy acronyms like NOI, GOI, COC, NPV, IRR, ROI, EGI, OER, etc.
Spreadsheets are no different then books in my opinion. Yes, both may contain valuable information but the timing of said information may not be right for the individual using or reading the information. You can read a book, "feel" like you know what was being addressed but then do it all wrong, if at all, in the end. You can plug some numbers into a spreadsheet and read the results but are the numbers accurate to begin with (crap in = crap out) and do you actually know what each number or field represents in the first place? You can listen to a podcast and even take notes on the information, but is that going to be enough?
No one can cover everything on a single webinar, podcast or a book regarding any one strategy as the moving parts, and required baseline knowledge, is sometimes over looked and furthermore could be assumed that one would have had that base knowledge before reading, watching or listening to the material offered.
Who is there to guide you to what you may have missed (information wise - like pre-requisites) or where you need to go next?
As I have seen through many posts on here and elsewhere, some people should not be doing what they are attempting to do because they are not ready to do so. Yet with everyone giving their 2 cents, and I too am guilty of that, sometimes they never learn properly.
People give them links to other posts to read..but do they read them? People suggest a book...but who holds them accountable to read it? People suggest a spreadsheet...but is that same person following up with them to determine they know how to use the spreadsheet? People suggest a podcast or webinar and then give guidance surrounded around that podcast or webinar...but who is there to make sure that person views the material related to the suggestion or opinion offered?
I see and use Forums like this, and others, as an opportunity to collaborate with and expand upon a pre-existing formal knowledge of the Industry or strategy...not as a starting point into an industry. I tend to "chime in" on topics I am educated in and experienced with...not just throw out some opinions based on a Google search, a book I read or an article I looked over and so forth. I read posts to broaden my knowledge which affords me the opportunity to determine if the information is in the "ball park" to begin with because I already have some baseline understanding and am simply looking for a little nugget to make it all click to me.
That, in my opinion, is what makes BP valuable (at least to me)...the networking of the educated and experienced individuals on the platform.
But when you have no idea and come to a forum looking to start your journey, that's where I think the issues could creep in. It would take someone months if not years to go over all of the posts/podcasts, then try to decipher what is good info and what is not so good info through even more off-line research and by the time it's all said and done may only end up with pieces to a large puzzle sitting out on a dining room table.
There is a reason that School Kids are taught by people, in a structured format with curriculum objectives, held accountable for assignments and not simply put into a classroom with podcasts playing, books on a shelf and spreadsheets on the desk and told.."Good Luck!" The Human in us desires a Coach, Teacher, Mentor, Partner or Instructor to validate the information being received within the material, to be able to then bounce the information off of others with related knowledge (BP can assist with this aspect for sure) and finally to be held accountable to turn that information into action which should result in positive growth (and even higher income/profits as related to a career or business venture).
Now I know, everyone can see or not see value in investing money to obtain a foundation or even an advanced knowledge taught by practicing professional instructors in the area related to the information sought, but why don't we complain about those same investments into an Accredited College for a paper degree which is suppose to have you prepared for the "Real World" experiences that come afterwards and sometimes fall short?
The relation is no different...you go to school to get that foundation education and then it's up to you to expand upon your knowledge with additional research and resources and ultimately take some form of action. Educational Systems that have a clear learning path of instruction (curriculum per-say) and cover, without bias or prejudice, a variety of aspects within the Industry should be embraced and not bashed as I have seen in forums across the spectrum IMHO.
Webinars, Forums, Books, Podcasts and Spreadsheets all have their place in the knowledge arena, as when you stop looking for knowledge you are pretty much done, yet I do question the timing of each in an individual’s learning curve.
Now I know there are individuals that don't believe Real Estate can be a risky business, and I tend to strongly disagree with those individuals, but in the end...the more you know, the more you allow yourself to grow and the more tools you have available to you when the time is right...the better off you will be in anything in the long run, not just Real Estate./
Happy Learning!
