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Posted over 9 years ago

Network, Analysis, and Knowledge

As a new investor I'm trying to determine what activities will be most beneficial and productive to reach my short term and long term goals.  Currently I'm not positioned to make any offers so I've narrowed my activities down to three things, Network, Analysis, and Knowledge.  Today was a good day of networking on BP and adding a couple colleges.  I've been very surprised as a new BP member how helpful people are on the site.  I didn't expect much but even if I expected a lot my expectations would have been exceeded.  I'm realizing that a turn key property will probably be my best bet for my out of state investments since it will be difficult to manage and oversee a renovation project from out of state.  I've found a few people here on BP who specialize in turn-key properties and have reached out to them for advice.  Analysis is my next activity.  I have to practice analyzing properties...a lot of properties, if I'm going to be able to separate the good deals from the bad.  I have even begun analyzing properties that I might not necessarily be interested in just to see if they cash flow and what the numbers come out to.  Getting well versed in doing these analysis and understanding the terms and metrics they represent seems to be pivotal in finding good deals and having the confidence to act on them.  My last activity is knowledge.  I'm currently reading The E-Myth Revisited and ordered The One Thing from Amazon today (it will be at my house tomorrow Prime baby!!!).  I firmly believe my most important investment is in myself and increasing my knowledge and opening my mind to new concepts and ideas is not only pivotal in success as an investor but important for life in general.  Thats it for today, time to analyze some more properties!


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