Things to do in your spare time that will improve your real estate investing?

[Roger Smart]

I am a new investor and also a night owl. I find myself up late playing video games and listening to the BP podcast when I cannot fall asleep. I am looking for 5 things I can do with my night instead of sit here.

Thanks!

Rod

[Samuel DeMass]

@Roger Smart,

You're definetly not alone.  I've spent many evenings/nights listening to @Brandon Turner

 and @Joshua Dorkin while playing some of my favorite video games (Starcraft II is my current favorite)to keep my mind sharp (Yes, sharp. Video games are interactive, TV is mind numbing - but I digress) , and adding collective wisdom to my REI knowledge banks.

However, if you'd like to create fruit from your time, here are some suggestions:

1.  Build an analysis tool - Build, from scratch, an analysis tool to help you break down the specific details of a deal.  Use excel, or the Open Office (free) equivalent.

2.  Analyze a market - Get to know the market closest to you first.  See if there are opportunities literally right around the corner.  Look on zillow or your favorite RE website.   Look on Craigslist.  Plug all the properties into your analysis tool.

3.  Build a paper projection - After you've filtered the properties, buy one (on paper).  Run through the numbers and figure out how much the cash on cash return is on the property.  How long will it take you to save enough money to invest in the first deal?

4.  Build a budget - Yes, you can buy property for low and no money down, but it's sometimes easier if you don't.  What lifestyle changes can you make that will allow you to save enough to put a down payment on one of the houses you bought on paper?  Go back and rework it till the time it takes is acceptable.

5.  Network - Find people on BP that are doing what you want to do.  Filter through their profiles and then go read what they are putting out there on BP.  If it seems to be in line with what your goals, ask them how they did it.  

If you get bored, go back to step 1 and refine it.  Knowing a deal is a deal is 90% of the battle, until you know how to know.

GL HF!

-Sam