“I want to invest but I’m not sure where or how to start.” If this sounds like you, you are not alone.
The majority of people have a desire to invest but lack the tools or the knowledge to make that desire a reality. That’s where I come in. My journey in investing started in my twenties when I had gotten out of the army and had an overwhelming desire to be a millionaire before I was 30. I found real estate investing and never looked back. Now, I get to help people just like you invest. Here are my 3 tips for those who want to invest in real estate.
Step 1: Educate yourself.
There are hundreds of ways to invest, so why real estate? After getting out of the army and reading Rich Dad, Poor Dad, I knew I wanted to pursue something different than the average 9 to 5 with my life. Maybe you have found yourself with a similar goal. I came across the book Real Estate Riches and it illustrated that all money/wealth lands in real estate. So by starting in real estate from the get-go I was able to go further faster. In the journey of real estate investing, it helps to read as many books as you can get your hands onto. Each book is often full of decades of someone else’s successes, failures, and wisdom that you can easily learn from. Don’t like reading? Try listening to an audiobook. Just don’t let excuses keep you from gaining knowledge.
Step 2: Position yourself.
My journey to becoming a real estate investor started as a bartender at a golf club. Why? This allowed me to work around super successful people and make connections that would later help me get my foot in the door when it came to investing. You can do the same thing. Look for places and spaces where you can position yourself next to people with the success you want to have. Maybe for you, this won’t look like working at a golf club but it could look like attending conferences or offering to work for free one day a week for a local investor, or joining a Facebook group about investing. Opportunities are everywhere if you are committed to looking for them.
Step 3: Just do it.
My first investment came after visiting another state and realizing that not only could I easily afford a fixer-upper property in the area, there was one immediately available to take action on. I calculated the risk and I took the jump. I didn’t sit on it for months hoping a better deal would come along, or wait until all my fear about the project was gone. I just did it. Did I lose my job shortly after making this decision? Yes, but it didn’t stop me from being resourceful and making it work. The same resilience and perseverance are inside of you. Do your homework. Even if things don’t go according to plan A, plan B is where you gain invaluable knowledge anyways.
For more tips and encouragement in starting your investing journey, listen to my conversation with Jordy Clark on The Financially Free Investor.
LinkedIn: Jake Harris
Youtube: Jake Harris