January 10, 2024
Something I’m Reading
I’m currently reading "On Writing (and writers)” by C.S. Lewis.
Something I Photographed
Air hockey requires some serious concentration.
Something I’m Excited About
I’m headed to Nashville and I’ve got some cool interviews lined up for the podcast. I’m excited to bring some great people, including a rockstar I’ve listened to for 20 years and the leader of one of America’s largest nonprofits. In addition to all that, I’m meeting with a handful of seven to nine figure real estate investors at a high end mastermind that I run called The Fifty. Excited to hangout with these rockstar men and learn from each other.
Something I Can Answer
I’ll be answering two questions asked by a BTB subscriber. Have a question you want me to answer? Reply to this text with your question!
Question: "What is the first steps in building my personal brand?”
So the first step to build a personal brand is to decide who you want to be known as. I also love the concept of being known as a person at the cross point of two demographics, or two interests. Or even to a demographic and an interest. For example, when I first started, I was the real estate in your 20s guy. So it was real estate investing and young people. Just being real estate is too crowded and it's hard to stand out. So the more niche down you can be by being the center point of two different niches, or maybe even three is ideal. If I had gone really niche, I could have even done men in their 20s who want to invest in real estate. That’s way better than just being men or just being real estate. The more targeted you can be, the better.
Question: "I’m new to investing, is it smart to buy in out of state markets? ”
Yes, NEVER, and maybe is my answer.
First, Yes: I think anyone CAN buy out of state rentals and make a killing. Lots of people I know do it, and you can too. But here's why I also say maybe the answer is NEVER... because if you’re not willing to treat it like a business, it will cause you a huge headache and you'll lose money.
So if you decide to do it, follow these three requirements:
One: Pick a market. don't overthink it, just pick a market where other people are making that thing work.
Two: Build a team. You'll need an agent, lender, contractor, and property manger.
Three: Read as much as you can on investing in out of state markets. David Greene's book Long Distance REI is a great source.
This Week in Lending
Unveiling the Hidden Gold Mines….
The Art of Market Research in Real Estate Investing.
When it comes to real estate investing, market research is not just a nice-to-have; it’s an absolute must. Understanding the dynamics of a market, the demand, and the potential for growth is crucial for making informed investment decisions. By diving deep into research and analysis, investors can uncover hidden gems and seize remarkable opportunities. In this article, we’ll share the secrets of successful market research and guide you on how to tap into the hidden gold mines of real estate investing. Get ready to unleash the power of strategic research and create a portfolio that shines brighter than ever before!
If you’re looking to get your next deal funded, check us out at betterliferef.com!
Something I Recommend
I was always envious of the people who are “ON” 100% of the time. The people who don’t deal with low motivation, doubt, fear of failure, or those endless days of thinking your whole entrepreneurial journey is about to blow up in your face. These people were running circles around me in business and real estate and when I finally figured out what they had that I didn’t – It all made sense.
These people were using a Mindset Coach to keep their eye on the prize and expose them to a higher level of thinking every single day. So when I went to find one of these coaches specifically for real estate investors, all roads lead to Jason Drees. Jason has been coaching me for nearly a decade at this point and has supported my growth from a small time investor to someone with nearly $1B worth of assets under management.
If you’re looking for an edge to accelerate your growth, talk to Jason. You can get a FREE coaching session through this link.
For my health-conscious friends (or those trying to be healthier), I’ve been using MyBodyTutor for years for accountability on my fitness and diet. These guys assign you a coach to hold you accountable, track your food, suggest exercises etc. You can check them out here.
Disclosure: “Some of the links in this post are affiliate links, which means I may earn a commission if you click on the link and make a purchase. However, please note that all opinions expressed here are my own and I only recommend products or services that I have personally used and found valuable."
Your Friend,
P.S. Comment below and let me know your thoughts on this week’s BTB! Please be friendly :)