A Taste of Canadian Real Estate Investing with Daniel Foch and Nick Hill

If you're a new real estate investor, it's important not to fall into the trap of believing it's going to be passive income. Real estate requires involvement, particularly if you're new to investing. To succeed, you have to treat it like any other entrepreneurial venture because it's a business like any other.

It may be tempting to handle your real estate business alone, but your strengths and weaknesses will become more apparent over time. To make the best decision for your business, consider hiring or partnering with someone who has different strengths than you. This could be the key to both your success and scaling your real estate investments.

 

In this episode of Zen and the Art of Real Estate Investing, Jonathan speaks with Daniel Foch and Nick Hill, hosts of The Canadian Real Estate Investor podcast, about best practices for new real estate investors.

  • You can overcome analysis paralysis. Jump in and do your due diligence. But understand that when you’re ready to make that first real estate purchase, you’ll still be new to the practice with a whole left to learn. You’ll learn more by doing.

  • Have self-awareness about the parts of real estate investing you aren’t good at or don’t enjoy. Consider partnering with or hiring someone with those strengths to offset your weaknesses. Both of you will benefit from leaning on each other’s strengths.

  • Real estate investing doesn’t need to be complicated. Set realistic expectations about what you hope you accomplish as an investor and work toward those goals. It’s not a get-rich-quick method. Don’t take unnecessary risks, and don’t over-leverage yourself.

  • Stay laser-focused. Avoid shiny object syndrome that will take your attention away from the deal you’re working on.

 

Set yourself up for long-term success in real estate investing by staying focused and not overcomplicating the end game.

If you want to learn more about Zen and the Art of Real Estate Investing Podcast, check out http://www.trustgreene.com/podcast/zen/035



Real Estate InvestingJonathan GreeneComment