What skills do experienced RE investors look to outsource?

What skills do experienced RE investors look to outsource?

Rental Property Investor · Orange County, CA · Member since 2018 · 98 posts · 138 votes

Hey everyone!

So I'm not at the point to start investing in properties with my own money (not enough capital), but I was wondering how I could utilize my current skills (or learn new skills) to be able to potentially help put a deal together and/or network with experienced investors in hopes to partner with them down the road. Being a homeowner, I'd describe myself as a decent handyman. I try to do as many of the repairs/improvements to my home as possible before looking to a professional. I'm also very good with Excel, which I use the majority of my workday. I love numbers and data and trying to figure out ways to apply that data to my daily life.

With all that said, I recently saw that the website Udemy.com is having a sale on all courses for the next couple days. These courses include categories such as business, design, marketing, office productivity, etc. I have a degree in biology with a minor in chemistry, so my college experience doesn't translate well to the business/investing world, but I love to learn new things! 

My question is in two parts: 1, has anyone taken any courses from Udemy, and if so, which course(s) would you recommend for my goal listed above? I'm leaning more towards the accounting side, "Introduction to Finance, Accounting, Modeling, and Valuation" by Chris Haroun, and "Beginner to Pro in Excel: Financial Modeling and Valuation" by 365 Careers. 

I could be totally off on what an experienced investor might want to outsource skills for, but like I said, I love numbers and I feel that's a strength that I could utilize if applied to the REI world. Other thoughts are in the marketing category, but I haven't had much prior experience. Let me know your thoughts.

Thanks in advance!

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  • Specialist · Milford, ME · Member since 2016 · 630 posts · 378 votes
    7y

    It is different for different investors. If someone is trying to scale the business, they will be outsourcing as much as possible. Smaller operations generally outsource what they don’t want to do or things that others can do better, cheaper or faster. Management is probably the biggest thing to let professionals do if you have more than a couple units.

    In my opinion if you are trying to partner up with someone, the most valuable courses you can take will be ones on some aspect of real estate that you want to do. Get to know we’ll what you want to do and that way you will know what you can’t do or what you need more help with. After you have learned a fair amount and set your goals and have a well thought out plan to get there, then others will be more likely to want to help you get there. You will also be able to recognize someone who you can have synergy with.

  • Rental Property Investor · Orange County, CA · Member since 2018 · 98 posts · 138 votes
    7y

    Thanks @Ed Emmons!

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