Find Your Niche, and Become THE Expert

One thing that I have found to prove itself true over and over again, is that the major key to become successful in anything you do is to become an absolute expert at it. If you commit to learning everything there is to learn about what you do, you will be successful. 

I have found this to be especially true in real estate investing, and when you can find your niche and become THE expert at it, you'll be unstoppable. The greatest thing about this, is that there are so many resources available to become an expert in your field. Take BiggerPockets, for example. What an amazing resource for real estate investors to learn a ton about investing in all sorts of properties, with so many different strategies, and there's new content added every hour of every day. 

I believe, to really become an expert and be extremely successful, you should choose a niche. Choose something that gets you excited, something you can be passionate about. Choose something that you think you can still be excited about in five years. To become an absolute expert in all things real estate is too much, and there will always be something who knows more about a specific area of real estate than you do. 

Choosing your niche and becoming the expert in it will make you successful in three ways:

1. 1. You become better at what you do. This may seem obvious, but it's true. If you're the expert in small multifamily properties in your market, you're going to know better than anybody when to expect changes in the market and rental rates, you're going to know what areas of town are going to see growth in property values while other areas will see a decline. You're going to know who's renting those types of properties in those areas, and how to attract them. You're going to know what lenders to go to to finance new deals, which brokers to know, and what vendors are going to best serve you. Having this information is going to make you operate more efficiently and allow you to stay on top of market changes. 
2. 2. It's going to become your life. When you're dedicated to continuously learning about your niche, you're going to be thinking about it all day every day. You're going to be talking about it with people you know, and you're going to stay excited about it. This is just going to continue to grow your level of commitment to your business. 
3. 3. People will choose you. When you become known as THE expert in your niche, people are going to choose to do business with you over anyone else. Brokers are going to bring deals to you before anyone else, other investors in your niche will come to you when they want to sell before anyone else. 

Whatever you choose to do, do it 100%. Nobody else can compete with the person that goes all out. I apply this principal in everything I do, especially with my real estate brokerage. When it comes to assisted living facilities, we're known as the ones to turn to. We're more committed to being the experts in this field than anyone else in your market, and it pays off more and more every day. You don't want to compete with anyone, you want to dominate.