All Forum Posts by: Franky Aikens

What is the one thing you love most about real estate that gave you the courage to get started?

Most smart investors believe that you should never try to time the market. And, if your good at what you do, you should be able to create deals in any point of the market cycle. But even those people would admit that it doesn’t hurt to jump in at the optimal time. My question is, are we nearing that optimal time or have was past it and are closer to the top of the market? Money is cheap and the economy is good but wages aren’t rising. There are so many moving parts.

Curious to know what everyone’s thoughts are on where we may be in the cycle and what’s on the horizon.

@Tyler Gibson

That’s sound advice! Sounds like you’re really dialed into her perspective and comfort level. That’s smart, and most of all, very respectful. I give you a standing ovation for that!

Thanks for sharing!

There are two main ways you can enter into real estate investing. You go at it alone or you can create a partnership. Both approaches have their pros and cons depending on the situation. For those who are married/committed relationship, you’re already in a life partnership. Question is - how do you get your partner in life on the same page as you when it comes to REI investing? Now, I know that the approach to achieving this different for everyone, but I'm curious to learn the BP community's thoughts on this.

Have you had this discussion with your significant other? How did you approach this? Did it work?

@Kyle McCorkel Amazing! Question - as you were revising your numbers during reno, in your calculations, did you project the ARV and rents you ended up receiving or were you just riding on a leap of faith? You mentioned that estimating rehab cost and ARV were your biggest takeaways from the project so I'm guessing you went with the "leap of faith?" strategy. lol

In today's age of digital communication, the art of meeting and socializing with new people has become a lost art. Humans are wired to be social beings and that'll never change no matter how many lines of digital connectivity exist. Devices will never replace the impact of in-person engagement. There will never be an iPhone that would be able to communicate the vibe or aura of another person that will tell you if this is a person you would consider having an ongoing business or personal relationship with. This brings me to the point of this post - If you haven't done so already, make it a point to proactively meet other members of the BP/Real Estate community. Here's why I say this.

I had the pleasure of meeting a local fellow BP member over breakfast this past weekend. It was the first time I've had a blind meeting and I had no expectations. Only to go into it with an open mind. Before our food even arrived we discovered a handful of coincidences between our lives (both of us had two year wedding anniversaries that were 3 days apart). Right away there was some familiarity. I'm not saying everyone will have the same serendipitous experience but you'll never know this if you don't get out folks. Most of us have more in common than we know. So I'd bet there would be a common thread somewhere in some facet of life or business. Moreover, this person I met with was a very interesting guy with a pretty remarkable professional background. I was super impressed with his real estate knowledge and most importantly, most of his knowledge came from actually doing what he was explaining to me and not just excerpts from books that he read. I was sitting in front of someone whose priorities and ambitions mirrored mine and was doing exactly what I want to do. There was one part of our conversation that made me so excited to be sitting across from this person - he outlined how I could achieve a real estate goal, which before then, I thought was out of my reach. Again, he wasn't regurgitating something he read, he had done it and he was willing to help me do it as well! Fast forward and before we knew it, two hours had gone by. If it weren't for pressing commits we both had that day, I'm sure we could've continued to talk for another two hours. Aside from the REI talk, the icing on the cake was we both had our firstborn children three weeks apart this past August (both girls) so there will be some playdates in the future.:)

With all that said, I can't stress enough how incredibly beneficial it can be to come from behind your keyboard and get out and meet people. It can open doors for opportunities and inspiration. You can learn and you can teach. Even if there's no business to be done between you and the people you meet, there is the possibility of beginning a brand new friendship.

If you've met fellow BP members in person before, let me know about the experience and what benefits came from it for you!

Share! Share! Share!

@Logan Graham

Thanks for this great suggestions, Logan!

Cal Newport’s Digital Minimalism is actually the next book I have in the queue to read. I recently read two books of his, Deep Work and So Good That They Can’t Ignore You. Both were fantastic reads. I first heard of Cal on the BP podcast #330 which was a fascinating interview!

Thanks again!

OMG! Thank you so much to everyone!

What great recommendations. Keep them coming!

Below is a list of some of my favorite books. Most of them touch on behavioral insights that would help ensure success in life and business (which would include real estate).  I'm fascinated with identifying the building blocks of success, which I believe, starts with perspective, skill sets, habits and spiritual awareness.  I truly believe the road to achieving external success begins with having internal success within yourself.

Here's the list! Hope you all pick up some of these books.

Deep Work: Rules for Focused Success in a Distracted World by Cal Newport

So Good They Can't Ignore You: Why Skills Trump Passion in the Quest for Work you Love by Cal Newport

Wealth Can't Wait by David Osborn and Paul Morris

Meditations by Marcus Aurelius

Principles by Ray Dalio

Getting To Yes by Roger Fisher and William Ury

This is Marketing by Seth Godin

The Happiness Advantage by Shawn Achor

@Charles Carillo Wow! Thanks for sharing this extensive list!  Which of them all do you feel gave you the best insights into becoming successful in your business? Very curious to know!

@Alex Hively You've got some really good recommendations on here. I've read 3 out of the six you've listed (4 hour Work Week, 10X & The One Thing). Loved them all. Ive were to highlight one of the three, it would be The One Thing because it's applicable to everyday life and not just the world of business. That book seriously helped my decision making process and defragmented my world.

I'm definitely going to pick up the other three books you listed. Thanks a ton!