What topics do you think people tend to struggle with the most?

Question

I'm an oil and gas analyst turned RE agent I'm writing a book and starting a vlog just on my FB to try and educate people on both mindset of being an investor and what one needs to do to be able to effectively start to invest both in them selves financially and mentally to succeed in RE investing. What topics do you think need more coverage and which do you think are overdone... Mostly I'm fishing for ideas for content to explore.

Mike Dymski · Answer

Real estate investing is no different than any other long-term endeavor.  People struggle with setting priorities and maintaining commitment.

Paul Bowers · Answer

I think most new investors biggest struggle is trusting themselves and actually pulling the trigger.  The study, they run the numbers, they talk to people, they know it's a deal and they still freeze up.  I can't count how many deals I looked at, hesitated and watched sell without having the guts to make an offer.

Denver Gray · Answer

Seems like the bread winners are mindset, procrastination and financial intelligence. Which those are much more fun and light hearted topics than I would have imagined... but i guess you all bring up a good point a good portion of what your going to learn will happen along the way but the ability to look at a property in a simply financial way and pull the trigger seems to be where most people freeze up.

So i have sorta brainstormed a few topics what do you guys think i should take away or add... sorta just going to do a data dump

I have labeled topics 1-3   1= basic   2=intermediate   3= advanced

• 1-3 Property Management
 
Absentee ownersShort term investors and the opportunities the miss and the opportunities they make for others
• Absentee owners
• Short term investors and the opportunities the miss and the opportunities they make for others
• 1-3 Contractor's (bids)
• 1 Bootstrapping
• 1 The myth of real estate passive income
• 1 My secret to massive upside
 
Long horizon, value add mentality, “72” Bootstrapping, force down NOI via capex, property efficiency and systems
• Long horizon, value add mentality, “72” Bootstrapping, force down NOI via capex, property efficiency and systems
• 1 Value Investor Mindset
• 2-3 Managing tax liability
• 1 Service and Hospitality (or business partners with commercial tenants)
• 1 Small improvements can lead to massive swings in NOI
• 1 Lower rent and lower vacancies are more important than the ego boost from high rent with medium vacancy
• 1 Strategy… why I prefer multifamily and other strategies
• 2 Cape rate and property class
• 2 NOI income and expense
• 1-3 Add Value properties and mindset
• 1 money is made when you buy… or lost
• 1-2 Buying your first deal series (couple episodes)
• 1 DRY POWDER (cash)
• 1 “72” (compounding interest basics)
• 1-2 Money is everywhere Mentality/ mindset episodes
• 1-2 Financial literacy/ intelligence (mini series)
• 1 Stop asking permission
• 1 Positivity (mindset)
• 1-2 CASHFLOW is KING!!!!!!
• 1-2 How to minimize risks
 
Play the long gameH+F+D*P=$ (hustle+focus+discipline*patience= 72
• Play the long game
• H+F+D*P=$ (hustle+focus+discipline*patience= 72
• 1 Underwriting the origins of my mindset and views of value
• 1 Closing the deal
 
Working with the sellerSelling yourself as a buyerNegotiating
• Working with the seller
• Selling yourself as a buyer
• Negotiating
• 1 Order of operations… want to invest one day… first underwrite yourself
• 2 Rehabbing
 
Commercial vs residential
• Commercial vs residential
• 2-3 Options
• 1-3 Data

• Absentee owners
• Short term investors and the opportunities the miss and the opportunities they make for others

• Long horizon, value add mentality, “72” Bootstrapping, force down NOI via capex, property efficiency and systems

• Play the long game
• H+F+D*P=$ (hustle+focus+discipline*patience= 72

• Working with the seller
• Selling yourself as a buyer
• Negotiating

• Commercial vs residential

These are the topics I seem to find myself talking to others about allot some are sorta followed by a brief thought or note.

Also I do do live streams on my Facebook and then I'll take notes from those streams to add to my writing so its sorta a round about writing process but hey it seem to work for me. So that's why it says episodes or mini series next to some of those topics I think will be more than one 30 minute video.

Anything on that list you think should be added or removed in your experiences?

Brian Schmelzlen · Answer

I think the topic most people struggle with the most is basic financial literacy.  Understanding that is the foundation to being able to analyze deals.

Denver Gray · Answer

Paralysis via over analysis is a pretty classical issue and I'm sure we all missed a deal at one time or another because of it... Other than simply trusting myself more now that I have done a few deals... I guess the only surefire way of doing this would be to suggest riding the coat tails of a mentor and or giving another investor a helping hand and trying to swap sweat for knowledge and or equity while also potentially putting some blood on the registrar as well to prove commitment on the deal. My partner in my deals came in with sweat equity and I can't imagine doing deals without him now he's a massive add value to our team as I'm a numbers guy and he's a sales guy.

Mike do you think something as simple as a check list could help with that whole priority thing for most people to get out of their own way?

Andrew... I'm not sure what you mean

Spot on Dave and Paul... self trust is always an issue..

Does self-trust ever become not an issue... I could think overconfidence could be another potentially more problematic issue as well..?

Another big one I think is simply financial education... allot of people i have noticed seem to need to look inward before the focus outward... that whole "pay yourself" mentality is quiet rare among my peers from what i can tell.

Dave Van Horn · Answer

Paul is dead on.

I would add covering:

- invest in what you know (i.e. if they don't work with or in an asset class they plan to invest in, then they should get educated in that investment space if they aren't already)

- the best ways to network with others who invest in said vehicle

- how to find a mentor or shadow other people's deals

Thomas S. · Answer

Strange how no investors ever mention the fact that as investors in rental income properties you are obligated to know and understand your state landlord tenant regulations prior to investing in your first property. Regardless of whether you self manage or hire a PM as the owner you have legal obligations to know the law.

This is a major oversight that most new investors chose to ignore and will usually lead to tenant issues.

New investors also need to understand the importance of enforcing their lease and state regulations. Non enforcement will always lead to escalating landlord tenant issues. Landlords ignoring tenant non compliance of rules is one of the biggest factors leading to evictions.

Craig Curelop · Answer

@Denver Gray - I would say talk strategy about getting UNcomfortable. Once you can be comfortable getting uncomfortable then analysis paralysis is not a factor. Trust your numbers. It doesn't matter if you get the BEST deal on the market with a 45% CoC.

If you can service your debt payments and hold on, you will be good in the long run. Taking action now is better than holding off x years and being afraid of not getting the best deal.

What topics do you think people tend to struggle with the most?

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