Real Estate Agent · Columbus OH · Member since 2018 · 1k+ posts · 1k+ votes
in the middle of my second time through 10x is easier than 2x and at a much different point in my life and career.
main things I'm working through and ruminating on this time through are:
a deeper understanding for the progress I've made.
I've got a much better frame around how I work and produce well and taking that info into the book this time has been enlightening. Specifically around "highest and best skills" and the 20% concept of what you need to be concentrating on.
the concept in general now seems more attainable, the previous read through was early, I got the concepts but the question was of course "how" it was a little to conceptual then I think.
There are several "fundamentals" i'm not doing or not doing consistently, and it will likely take some tweaking and adding my own flavor and style but I'm confident there's a way to do them consistently and to the degree that's required.
Really like the "fitness" concept discussed, its something I've had similar thoughts about on my own and am liking working to frame my work as a workout.
Michael, the 20% idea lines up with how my own investing has changed over the years.
My first property was a $10,000 house. I did all the work myself, then rented it through Section 8. It made money, but a lot of that return came from my own time and labor. I did a few more like that before I realized I was building a second job, not a business.
What helped was being honest about the parts I'm good at and the parts that drain me. For me, dealing with tenants directly is one I'm happy to hand off. Finding deals, running numbers and working with people on the buying and selling side are where my time is worth the most.
Over time, I moved from lots of small, hands-on properties to fewer, bigger ones. My most recent purchase was a commercial property that requires almost nothing from me. The cash-on-cash return isn't as high as my early hands-on deals, but it frees up my time for the work that actually moves things forward. That tradeoff makes a lot more sense to me now than it would have when I was starting out.
Your point about a second read through hitting differently makes sense. Some of these ideas only click once you've done enough of the 2x work to know which parts you should stop doing.