All Forum Posts by: Brian Lacey

Hi Lisa, 

Welcome, happy to see another San Diegan. 

Best of luck, I'd recommend finding a niche you're interested in, and then study the hell out of it. Ample resources no matter the niche you choose. If you're looking for general info in regards to which niche you want to learn more about, I'd recommend Joe Fairless' podcast. A quick Google search will take you to his site, and his podcast can be found there or on ITunes. I love his stuff. Some in depth stuff in some topics, some nice general info on some of the more unique niches.

Best of luck.

If you want the contractor's information for another investment property in the area...why wouldn't you just hire your current PM to manage that one as well?

From the comments above, seems pretty clear, that this idea is better left not explored any further.

Hi and welcome,

Nice to see another San Diegan in BP!

I'm a novice myself, but BP makes the learning curve an easy one to manage.

Welcome!

Books, BP, and podcasts are your new best friends. A quick Google or iTunes search will give you more than anyone could list off for you. If you're going to college, assuming your university doesn't have a real estate program, finance/banking.

Find a niche you're interested in, and learn everything about it. Careful with spreading yourself too thin, and taking on too much. 

You could look into a RE license in your state as well. 

Plenty of options, can go whatever direction you want.

One activity to look at taking inside the classroom would be Kiyosaki's CashFlow game.

I'm teaching English out in Korea right now, but love talking the industry, if you ever are up for it. 

Welcome!

No, correlation does not equal causation.

Common fallacy, largely exploited by the media as well.

 Well, you get access to information as a RE agent that isn't as accessible to those without it. Gives you a leg up on the competition, which seems well worth the time and initial investment for a RE license. Also, it shows you're into it more than just a job when you invest in RE as a RE agent. 

Far from necessary, but seems like a small investment for the benefits that can be reaped.

 Short answer: yes. Anyone can be successful in any business. 

Long answer: Know your strengths and weaknesses. Utilize your strengths. Work with others that are strong in areas that you are weak. A team/partner is an obvious choice to help with this. Another option would be educating yourself in how to minimize your weaknesses and bring them up. 

A lot of it has to do with psychology. Many introverted people have long and successful careers in people/relationship heavy careers. 

I'm a big fan of routines in the morning before interacting with anyone. After work, I have a routine that lets me come down off the ledge cause of my hours around people throughout the day. 

Feel free to message me further about this. I used to coach High School and Junior college football, so my job for that time was to get the most out of people at all times. I've studied a lot personally on psychological and emotional needs as well, because of my own battles with introversion, and needing to adapt to the world around me.

Keep in mind stock volatility. It's easy to say in hindsight, a scenario where you had 100k in an index fund. If you put 100% of your allotted investment in one asset class, where is the diversification your risk? At least with real estate, a big multi can diversify your risk and spread it out over the doors you have. Everyone needs a place to stay, and RE isn't going anywhere.

RE and paper assets are great. It's pretty foolish not to diversify your risk and not hedge your bets, and put it all in one asset class.

 Welcome! I'm actually looking at doing a doctorate at UofA, and was looking at multifamily props in the University area. Definitely would love to connect further.