Starting Out
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal



Real Estate Classifieds
Reviews & Feedback
Updated about 12 years ago on . Most recent reply
How to know if you have enough knowledge?
Hey everyone,
I have been thinking a lot about something recently and I really wanted to get some insight and advice.
I along with so many other new investors have yet to do even one deal. Right now I’m in a position where I am trying to learn as much as I can (through BP, books, webinars, and trying to network) but I keep coming back to one main question.
How do I and other beginners know when we have enough knowledge to actually start taking action?
I feel like knowledge without action in pretty much useless but I’m really struggling with knowing when I have enough knowledge to begin. I think a lot of people use the excuse, “I don’t know enough to start investing.” While in some cases there is probably some truth to this, I know others just use it as an excuse to stay in their old ways.
I feel like I am letting this lack of knowledge (whether real or perceived) stop me from taking action and I know I have to get over it to be successful.
Anyone have any thoughts on this or experienced this yourself?
Most Popular Reply

Definitely start small, because when you are in the big leagues, a small mistake is multiplied many times over and can sink you very quickly. So do a single family or duplex first, and go through the process of acquiring and managing real estate.
On top of that, self storage is a business in and of itself, with it's own special quirks.
Here are some resources:
www.selfstorage.org
www.selfstoragemichigan.org
www.selfstorageeducation.com
www.selfstorage101.com
www.insideselfstorage.com
www.selfstoragetraininginstitute.com
www.selfstoragetalk.com
There is a self-storage guru on the reia circuit - Scott Meyers. Not suggesting you pay big bucks for his stuff, but you may find one on ebay.