Today is Day 1 for someone that is reading this post

[Tommy Ray]

So I will assume you are someone like me when I was 19.  So taking to that newbie I will tell you what you need to know right now.  Ready?

1. Understand the rule of real estate investing in terms of the tax code.  Go to IRS.gov and print out the instructions for the schedule E and highlight all the write-offs.  Notice that training and education are write-offs, note meals and travel, note the 750 hours of active participation to have uncapped write-offs.  Log hours, save and label receipts and track mileage in a log.

2. Seek awareness--ASK FOR A MENTOR.  You do not know your right and left margins of mental elasticity and you surely do not know what you do not know.  But a mentor can talk to you and assess your strengths, weaknesses, and the opportunities and threats you face based on your personality traits and aptitudes as well as values.

3. Ask for help in gaining awareness from those who love and care about you.  Seem personalities are unsuitable to be buy and hold investors that self manage their properties.  Tenants are quick to sniff out tender hearted types and will export all their problems to such owners and walk on their rent payment obligations.

4. Look to materially participate in on-going activities of the mentors you have found that you find relatable.  Life is a give and get.  Immersive learning is best.  Once proficient at that "learning moment" move onto the next thing.  Best part you may trip into that aspect of real estate that you just love -- immerse there when you find it.

5. Find your A-team.  Your A-team will make you look dead sexy.  They cover down on tasks that are outside your current acquired skills sets.  Social Media marketers, accounting/bookkeeping, insurance, financing, and the various trades are all super common to want to fill as you build your own team.

6. HAVE FUN and stay CONSISTENTLY ENGAGED.  People want to see the good and the bad.  When they see those things they see you as real and relatable and they'll follow your evolution and even one day seek you out for advice.  I hope you freely give it as I am now... 

7. this is where you take over and start filling in steps... and learning, earning and adding back to the culture within these few words...  Time is ever fleeting....  Don't waste....  Look to help others...  I hope this message resonates in your soul... forever

[Tommy Ray]

Kirsten in 1991, I knew I loved real estate so enrolling in the H&R Tax Preparers Course was a home run.  It was like reading the rules to monopoly before really playing the game.  When you get depreciation side of real estate it will be an eye opener.  When you have to have an underwriter mechanically add back in to your income all the depreciation (paper write-offs you are allowed by the tax code) to see what your true available income is you will understand them and their processes better so as to teach as well as manage expectations of your team.  Connective learning in all things at all times.