What is the Key to a Successful Real Estate Investor?
One of the most common questions I am asked when talking to newcomers to real estate investing is, “What is the most important thing I can do to be successful?” My reply is always the same, never stop reading and never stop learning. Remaining “learning based” and making it a part of your life’s foundation will pay substantial dividends. It is the quickest way to gain knowledge in any field, change and broaden the way you view the world and improve your personal development.
Naturally, the follow-up and difficult question is, “What should I read?” One of the most overlooked aspects of real estate investing is that at its core, you are becoming a business owner, regardless of whether you are looking to purchase an investment or become actively involved in another sector of the industry. A successful entrepreneur has a strong understanding in marketing, accounting, finance and negotiation (to name a few.) The quickest way to accomplish this is by devouring as many books as possible.
I have set a goal of completing 50 books a year with a minimum of 1 hour of reading per day. My daily objective keeps me on pace of 1 book a week, which will accomplish my yearly target. I divide this into audiobooks, which I listen to at the gym and hard copies that are kept on my night stand.
For everyone involved in real estate, at any capacity, I cannot stress enough how important is is to continue learning and increase your knowledge.
Happy Reading!