Real Estate Investing Education
You Need To Get Good At "Macro" and "Micro"
When I first decided to "get rich" with my real estate investing education I had grand plans (and still do).
I was really good at reading all sorts of books about visualization and affirmations and I would "see" myself flying around in helicopters visiting all of my properties all around the world.
For the record, our properties are all in Canada unless you count my family's land in Croatia - but that's part family vineyards, part farm, part old style European village, part "in the middle of nowhere" - but our father never hesitates to remind us that it has real value because it's 20 minutes from the Adriatic coast, and who knows, he could be right.
Anyhoo....back on point....
So I would visualize and come up with big plans and write out big goals and repeat them everyday. And I actually still believe in that stuff.
But by the time I turned 30 I had this realization that unless I starting focusing on the little things the big things would never happen. My real estate investing education alone wasn't enough.
Have you ever heard a person say "I'm a big picture guy/gal, don't bother me with the details - I'm not good at that stuff".
Well, that was me.
Always focused on the big picture.
And always ignoring the little details.
My personality really thrives on big ideas and I'm an Aquarious so I've always been told I'm a "dreamer", so I guess I just ran with it.
But over time I started to notice that almost everyone who told me they were good at the "big vision" stuff and "not-so-great with the details stuff" was dead broke or close to it. But they all seemed to have a lot of real estate investing education.
About the same time I noticed that the millionaire makers devoted themselves to being good at both. They may not get obsessed with the details of balance sheets but they have a understanding of them.
They balanced the importance of bottom line results with progressive thinking.
And I'm constantly reminded of these these days. Since starting our own business Nick and I have constantly been forced to watch the bottom line and "think big" simultaneously. It's been a "new" type of real estate investing education.
And thankfully he's better at the details than I am. We're a good match and the chemistry is just right.
One of us without the other couldn't have pulled off what we've started but together we're unstoppable.
There's a lot of chatter right now about "outsourcing" and using "virtual assistants" for the things you're not good at. And we're big believers in that.
But don't confuse outsourcing website design with outsourcing your bookkeeping. You may not need to be the person entering all your receipts into MS Excel or Quickbooks but you better be the person watching the cash flow coming and going.
You better be the person raising funds for your business.
You better be the person taking 100% responsibility for sales in your business.
You better be the person stepping up and filling a vacant property.
You better be the person double checking the cash flow numbers.
You better be the person negotiating prices with contractors.
You better be the person looking over the details of your leases.
You better be the person in the trenches doing the real work day-in-day-out.
You better be the person understanding what your accountant is telling you.
You better be the person attending to the details of your empire.
Now, if you're a big picture person don't get discouraged. There's a place for you.
Our Real Estate Brokerage is partly the result of some "big picture" brainstorming on a yellow piece of "dollar store" bristol board. Big visions and big dreams are necessary. And real estate investing education forms the base of your decision making.
But to realize your dreams you'll need to focus on the "macro" and the "micro".
After you've built you're empire, whatever size that is for you, then you can outsource and hire people to handle the daily dirty work. But to get it all running it's gotta be done by you.
Too many people miss that point or realize it too late and end up wasting a lot of time. Months, years, even decades can slip by quickly.
Time is one resource that we can't get back.
So keep dreaming but get to work ;)
Until next time ... be a Renegade!
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