Rental Property Investor · Fresno, CA · Member since 2018 · 40 posts · 31 votes
Hi BP,
Just curious to see what everyone does on a daily basis to progress their real estate journey.
I’m a newbie, I have one rental property under my belt and am looking to scale. I’ve caught the real estate bug and cannot quit!
Everyday I walk my pups along the river and listen to a real estate podcast. Sometimes I do my conference calls by the river, I tend to think more creatively in this environment. I look at the forums everyday and read real estate related news everyday as well. I then surf the internet for potential properties, make connections with people, set up conference calls for the following day and repeat.
Right now, I’m trying to figure out creative ways to buy homes with little to no money down. I’m looking into owner financing, hard money lenders, partnerships etc. I’m trying to talk to as many people as I can and soak up as much info as I can.
I also recently started doing yoga every night to keep my stress low and keep my mind sharp.
So with all that being said, what does everyone do on a daily basis to keep progressing in their real estate journey?
@Emily Hill I listen to podcasts and analyze deals every day. The more deals I analyze, the more familiar I become with my market. I look at what houses are selling at, what rental are renting for, and just generally try to keep my eye on the ball in the area I invest. I read in the forums when I have a free moment at work to see if there are any topics I'd like to learn more about. I research more creative ways to finance, and make spreadsheets to organize all my ventures.
I was born and raised in Fresno myself. Glad to hear from people who are "getting it done" with Real Estate.
I am in the midwest now and looking to close on my first rental this week (hopefully). Daily goals are very important and it best to write them down every morning before starting out the day.
Today's goals were: read at least 30 minutes about real estate, listen to at least 20 minutes of BP podcasts (I have a 12 minute commute), analyze at least two deals (i usually have at least that many from my realtor feed e-mails), spend at least 30 minutes on social media increasing my social network (posting on BP, looking for meetups, connecting on FB, etc).
@Emily Hill I listen to podcasts and analyze deals every day. The more deals I analyze, the more familiar I become with my market. I look at what houses are selling at, what rental are renting for, and just generally try to keep my eye on the ball in the area I invest. I read in the forums when I have a free moment at work to see if there are any topics I'd like to learn more about. I research more creative ways to finance, and make spreadsheets to organize all my ventures.
@Emily Hill I don’t spend time on it every day but my eyes are always open and wheels turning for the next opportunity. I always have my eyes on a few properties for when things line up right.
Right now good help is harder to find than good deals.
I also spend a lot of time working on my software that helps us run our business.
Always learning; about real estate, software, business, personal stuff, etc.
Each day i'll listen to podcasts on my way to and from work, look through BP articles or forums throughout the day during down time. Throughout the week i'll try and talk with my realtor and analyze several properties. I've also been real interested in researching other markets.
Thanks for the tip about using spreadsheets. I definitely need to start organizing my markets and potential deals into an excel document. Analyzing more deals is something I need to work on, sometimes I get too focused on the financing part. But I know if I have a really good deal, financing will fall into place. Thanks for sharing!
@Scott Rogers Hi Scott, very cool to hear that your from Fresno! Go Bulldogs! My sister recently moved to the mid west as well and she loves it! I like the idea of writing goals down. I write down grocery lists, errands I have to run, to do lists around the home but never real estate goals. I think that's a simple but powerful task that I can incorporate into my routine. Also congrats on your rental property! I'm fairly new as well so if you have any questions, feel free to reach out!
@Billy Linn Hi Billy, I'm like you, I always have my eyes open, looking for my next opportunity. It's sometimes hard to turn it off, but I enjoy real estate. I completely agree with you that it is harder to find good help than deals! I'm looking into diving into the world of fix n flips then keep them as buy and holds. But I'm nervous because in order to be successful at this, you need a good contractor behind you.
@Justin M. Hi Justin! I usually just listen to the BP podcasts and read the forums. I need to venture out to reading the BP blogs and articles. The resources here on BP are gold. I'm a newbie myself and am looking into other markets as well. CA is so expensive and the laws here are getting a bit ridiculous therefore I don't like to invest here. Definitely check out the Midwest for investing!
@Emily Hill that's awesome Emily, sounds a lot like some things I keep hearing Tim Ferris say on his podcast when it comes to taking care of yourself so you can be better. I'm currently searching for some ways to keep my mind sharper, I've found that some bulletproof coffee in the morning helps me get moving and I can accomplish more work in the morning, which leaves my afternoon more free to read through business journals, articles, etc.... which allow me to formulate what my next move should be. I also try and meditate but don't do it as often as I should, I find that it keeps the "chattering monkeys" in my head and a lot more silent which allows me to think on the things I'm learning. then I always try and find times to shut everything down a few hours before bed (it's always tempting to just keep working in this business). this really helps me attack the next day. I hope that helps! it's not exactly RE specific but things in general that keep me sharp. I'm always happy to talk more as I love this stuff!
@Jeff Zimmerman Hi Jeff! So cool to see that you are from Fresno as well! I've been wanting to participate in a Fresno meetup, although I haven't heard of any for awhile now. Maybe this is something we need to initiate! I've never listened to the Tim Ferris podcast, I will have to download a few podcasts from him and listen to it on my walks. I really enjoy walking/hiking near Millerton or in Bass lake, I find myself to think more creatively in those settings. I sometimes do conference calls near the river as well. The quietness and serene of the outdoors works best for me.
I know real estate can be a bit hard to turn off, especially at night. I find myself analyzing deals and looking at properties until I go to bed. I've found that doing 10 min of yoga a night helps me relax and calm my mind so I can sleep better and feel refreshed in the morning. There are several 10min yoga before videos on youtube that you can try. Thanks for reaching out!