Breaking Free of Limiting Beliefs as a Real Estate Investor with Matt Jones
Our educational system teaches us how to fit in a box of how to be good employees. But why become somebody else’s passive income, when we can be the ones to create it?
Whether that’s through investing in businesses or stocks, or real estate, this is not rocket science. It takes persistence, hard work, education and surrounding yourself with the right people if you truly want to achieve your goals and get to the next level. However, none of that matters if you’re not in it for the long haul – and you don’t have the right mindset.
Matt Jones, CEO of Hawking Capital, went from managing group homes to figuring out how to house hack a triplex, and then into syndication and senior assisted living. He shares some wisdom on real estate investing to help you get to the next level.
Investing is within your reach.
You don't need special degrees or experience to get into real estate. All you need is to educate yourself a little bit, network with other people in the field and take action.
Stop getting in your way.
Maybe you think you can only invest in a triplex or a single family, then that's all you can invest in. But if you believe you can actually go bigger, say invest in 20 plexes or 100 units, or more, you're going to start to take actions to figure out how to make it work and who you can work with to make your goals happen.
Use your strengths to your advantage.
Most of the people in real estate now didn't start in real estate. They came from something somewhere else. So take whatever your strengths are, your knowledge, and your capacity, and use that to your advantage. Then find other people to fill in the blanks from there.
Consider hiring a property manager.
Hiring a property manager can be a great use of your money and time. Either you try to do it on your own, do it poorly, and it takes you 10x the amount of time that it should have. Or you could hire a professional who's going to do it right the first time. When you're trying to scale, there are only so many toilets you can fix at the same time, only so many rooms you can paint, and only so many residents you can show to give tours to. With a property manager and the right team members in place, there's no limit to how many units you can have.
Add value first then everything else comes back around.
A lot of people who are looking for mentors just want the mentorship but they don't actively seek a way to be an asset to them as well. You have to add value to other people first, whether they're your mentors or potential business partners. Figure out a unique way to add value to them and it doesn't even have to be real estate-related.
Real estate is a team sport, so don't try to do it on your own. Network with other people and find business partners, coaches and mentors, and be part of the community who will want to help you. But then again, add value to people first, and that's going to propel you a lot faster than you can on your own.
If you want to learn more about real estate investing with Matt Jones, check out www.trustgreene.com/podcast/zen/031.