WHERE DO I START??????
WHERE DO I START?????
Lately a lot of my friends, coworkers and acquaintances have asked me for some advice on first steps. This got me thinking. What’s the best advice for someone interested in real estate or financial freedom to begin their journey? Clearly, the broad answer is education. The smartest of us talk about learning from others mistakes and wisdom rather than just learning as we go. I totally agree… books are the best mentors! I don’t think there’s a silver bullet piece of advice here, but depending on where you’re starting, there’s definitely a few things I’d point you to accelerate your learning. So, friends, here’s where I think you should start depending on your circumstances.
CIRCUMSTANCE: You’re brand new to the idea of financial freedom.
Welcome to the rabbit hole we call financial freedom! Start here:
THINK AND GROW RICH by Napoleon Hill
This is an absolute classic. Hill, a protégé of Dale Carnegie, discusses that your thoughts create your future.
RICH DAD, POOR DAD by Robert Kiyosaki
The gateway drug for most real estate investors, Kiyosaki stresses financial education is key- the rich teach their children differently from the middle class.
CIRCUMSTANCE: You’re 22 or unmarried with few real-life responsibilities
Dude. You’ve hit the life jackpot. You are very early to the game and are focused on building a huge life with a future full of freedom, choices and adventure. You are my hero. Start here:
SET FOR LIFE by Scott Trench
This is a really actionable and contrarian theory on how to live. I wish I had this 15 years ago, but then, Scott was probably only 12 and unable to pen such a thought provoking prose. You’ll learn about setting yourself up to take the right kind of risks (by building a runway) and set yourself free in a very short timeframe.
CIRCUMSTANCE: You’re in your late 30’s with a couple of kids and a mortgage
You’ve done all the right things. You went to college, probably did a masters, got married and had 2.5 kids. Now you’ve realized there’s got to be a better way!! Start here:
WEALTH CAN’T WAIT by David Osborn and Paul Morris
This is likely my favorite investment books of all time. David and Paul discuss the mindset and habits it takes to create pipelines to wealth and cashflows by structure.
CIRCUMSTANCE: I want to start small.
But Mandy, I’m feeling little overwhelmed. What’s the best way to see that even one single family home a year will set me free? Start here:
THE MILLIONAIRE REAL ESTATE INVESTOR by Gary Keller
Gary Keller (of Keller Williams) does an awesome job of making this dream feel incredibly attainable. First you need to think a million, then buy a million, own a million, then make a million. Making a million bucks passively sounds pretty great to me!
CIRCUMSTANCE: I want to go big and need a text book
You are a certified badass. You are Grant Cardone 10Xing everything in front of you and would way rather go big than go home. You’ve probably also got some real estate experience under your belt. Start here:
THE ABCs OF REAL ESTATE INVESTING by Ken McElroy
A Rich Dad Advisor, Ken McElory is a big player in the multifamily space. This book is very multifamily focused but is incredibly actionable.
LIFETIME CASHFLOW THROUGH MULTIFAMILY PROPERTIES by Rod Khleif
Truly written as a textbook, Rod takes you from soup to nuts on what you need to know. Hurry, it might still be free!
https://rodkhleif.com/how-to-create-lifetime-cashflow-through-multifamily-properties-2/
The key to starting is going one step at a time. How do you eat an elephant? One bite at a time. If Tony Robbins style Massive Action seems intimidating, figure out one step and do that. Progress = Happiness.
Comments (1)
Great direction Mandy. Thank you! I can easily find where I need to start:)
Jennifer Barner, almost 8 years ago