No matter what level of investor you are, there's always room to improve your game. Here're some of the top tips I used to level-up when getting started.
Join a Meetup!
Savvy investors have been attending meetups for decades, though before meetup.com rose to prominence they were called “REIA’s” (Real Estate Investment Associations).
Joining a meetup is one of the most effective ways to supercharge your networking efforts.
The value of connecting with like-minded investors, operators, and other industry professionals on a monthly basis cannot be overstated. A good meetup will not only improve your knowledge base through quality content but open the door to new investment opportunities and partnerships.
While live meetups may not be an option at the moment, there're plenty of great groups who meet on zoom. One great advantage to a virtual meetup is no travel time!
So, if you’d like to expand your network and improve your investment game, join a meetup!
Subscribe to a Podcast!
Podcasts are one of the best sources of real estate investing content, particularly for new investors that are just learning about the industry. Podcasts provide a great opportunity to make use of otherwise wasted time, such as a long commute or while performing mundane tasks such as cooking and cleaning.
Best of all: they’re free, easily accessible, and extremely prolific!
Frankly, nothing comes close to providing investors with consistent exposure to the inside of the greatest minds in real estate today. There’re countless podcasts on multifamily investing and syndications, but whatever your preferred niche is there’s more than likely a podcast for you.
Follow a Blog!
Blogs are another excellent source of free content. While not as passive a format as podcasts, the structure provides quick and easily digestible information on a variety of subjects.
As investors, it’s important to stay up to date on industry news, regulations, trends, and the tools available to make the best decisions possible. Blogs also provide great insight into other investor strategies that can help you determine your own investment strategy.
In short, following a quality blog is a good way to cut through the noise and get the information you need to know.
Learn the Big Picture!
The best investors know it’s not just about the real estate, it’s also vital to understand the bigger picture.
What should we be incorporating into our investment strategy to ensure the success of our investments? Perhaps there are new regulations that may impact us (rent control anyone?).
How is the economy at large performing? Are there any new employers moving to the area?
Understanding the economic factors at play, both locally and nationally, can have a huge impact on an investment strategy and, ultimately, its success. For instance, because of where we are in the economic cycle, every responsible investor is currently underwriting their deals using economic data to drive assumptions when calculating things like future rent growth and exit sales price.
So be sure to stay up to date and well informed on the big picture to make the best decisions you can to protect your portfolio.
Attend a Conference!
Last year I attended the Raising Money Summit in Denver, and I can’t speak highly enough of the experience.
In fact, all of my current deals came from people I met at the conference.
I met some incredible people and learned a lot. Conferences provide an amazing opportunity to rub shoulders with a diverse group of investors, from seasoned veterans to rising stars at the forefront of the future of Real Estate Investing.
Not only is it a great opportunity to network outside your usual circle, but you can bounce ideas off others, providing a fresh perspective on a particular challenge or problem you’re experiencing.
The guest speakers, breakout sessions, and impromptu masterminds also provide excellent content and education to take you to the next level. No matter where you fall on the investor spectrum, there’s tremendous value to be had by attending a conference.
So there you have it! Five Pro-Tips to Take Your Investment Game to the Next Level.
