Posted over 5 years ago

The simplest three investments you may be overlooking

Have I caught your attention yet? Good point, I haven't inked anything so far. Let's jump in. 

Invest! That's what brought most people to this blog post, youre thinking I may unlock the three secret investment strategies that's going to launch your investment career to the next level, and I just might.....

 Invest in your loved ones. "Here he goes", your thinking with an eye roll, getting all sappy on paragraph number two. But really, before you click over to your instagram feed, hear me out. I have no doubt, been guilty of spending too much time at my computer, on my phone, or both at the same time while my kids ask questions and tell me about their day. Now there's definitely a time for work, but also a time to put work away and begin to invest in your children's lives. Along with your investment in your children, invest in your marriage or your relationship. For those of you living the single life without kids, I'm glad your getting sleep, but your not off the hook. Invest in the one's you cherish the most. How will this improve your real estate investing? That's what were on this site for, right? When you teach your kids the value of investing, you instill a character trait that will stay with them for the rest of their lives. Include them at an early age in your neighborhood drives. Teach them the value of hard work while working along side of them in your flip or running the numbers on a project. Success is best shared, and when you begin to invest in your relationships and your closest friendships, you'll share your real estate success with true companionship for many years to come. Invest in your loved ones, your ROI with this type of investment is infinite, and that my friends is a very nice return!

Invest in people. Have you ever picked up the phone to pay a bill, call a business or  talked with a total stranger on the other line and started be asking how their day is going? I'm talking about using the name they answered with and asking how they were before going off on your rant or business at hand? You'll be amazed at the level of service that you get in return, and while that is not my intent when I ask, it is an added benefit. Have you thanked your contractor for all his hard work on your projects recently? Have you ever written a check to cover an expense that really wasn't your responsibility? Do you recognize members of your team in public, and praise them for their efforts? Customer service seems to be a dying term in my humble opinion, and real estate, like most other businesses are people driven. Treat people kindly, go out of your way to provide customer service, praise your team, connect with your investors, and step out of your way to interact positively with everyone that you come in contact with. When you focus on people and not money, you'll be amazed at the results! Invest in people, and your team building and relationship cash flow will be extremely positive in a very short amount of time, and who doesn't love positive cash flow! 

Invest in your education. Real estate investing is glamorized by our reality television shows.  With a simple search on social media, you can find a distressed house that looks beautiful again. The stars of these reality shows make the flip game look like their growing money on the Benjamin tree (Ben Franklin is on the $100 bill. Your welcome), after all its just finding a contractor and buying a house, right? Wrong! Real estate investing requires education.. Can you do a double period to drive home a point? A first class education,  you'll receive, one way or another. You'll spend time up front with books, blogs, podcasts, ride-alongs (this is what we call a shadow or mentor program in the fire service), local meetings, classes and more just to begin to learn the ropes. Now I know what your thinking, people who have plenty of book smarts don't necessarily make the best real estate investors. I believe your right, but education is king. Now the other side of the track, perhaps you'll be educated by jumping in and losing money, or dealing with lousy tenants, or making mistakes that cost you valuable time. Either way, you'll educate yourself. So do you want to be book smart or street smart? I suggest both. Invest in your education, this is your appreciation play for you personally. You'll be much more valuable in real estate investing once you decide to make this investment, and that's appreciation you can take to the bank!

Simple concepts I know, but far too often we tend to lose sight of the items in our life that we truly need to be investing in. Here's to successful investing in every aspect of your life!

Comments (4)

  1. Good work! Inspired!

  2. Thank you Laura and Scott for the comments! Laura, keep up the great work!

  3. Love this post also! Great basic advice that we too often overlook or forget about in the midst of the grind. Thanks for the reminder!

  4. LOVE this post! I'm a big believer in customer service, customer service, customer service. I go out of my way to learn a little about the people who make my business possible, from tenants to contractors to rental property neighbors. It always pays off in the end, whether in the form of a referral, new information, increased rent, great contractors or even just a warm smile and a friendly conversation.

    This business is about relationships. I'm just starting out as an investor, but my connections to my community brought me my first properties. I bought three multi-families in my historic neighborhood last year as a result of relationships I had cultivated as a neighbor.

    When the former owners thanked me for being so honest and easy to work with (I've known them for years), when my tenants thanked me for being so helpful, understanding and kind (one for letting a single mom who is in the Army out of her lease early so she could move closer to base, another for helping her navigate the paperwork to have her dog on the property as an emotional service animal even though there's a no pets policy) and when my contractor thanked me for my patience (he had three deaths in the family in a two week period), I know that all of the time and energy I've invested in showing genuine interest in all of them has paid off. I will probably be asking all of them for a testimonial some day, and I hope they can share a good one.

    My two teens are also dragged into this, whether they like it or not, and I hope the eventual takeaway is that they know that if mom can do something like this and handle all of the pitfalls and trials that come with it, then they can not only survive, but thrive at doing something they love.

    Thanks for the reminder that not all investments involve money.