Leading with Value as a Real Estate Investor with J Scott
Understanding business fundamentals can apply to any industry, including real estate investing. Successful businesses all have the same basic components, and learning these concepts can help investors transition their knowledge to other fields. Grasping what makes a business successful can give investors an edge and increase their chances of success in real estate.
In this episode of Zen and the Art of Real Estate Investing, Jonathan welcomes entrepreneur J Scott to the show. While some real estate investors have a natural talent for the business, others may not have an interest in real estate but excel in understanding the mechanics of a successful business. This innate understanding can be a valuable asset. By applying their business acumen to the real estate industry, these investors can find success and build wealth through strategic investments. J is one such investor.
Analysis paralysis can prevent you from investing at all. When J first considered real estate investing, he and his wife had difficulty choosing a home. One weekend, they saw two homes and purchased both. While they didn’t start with the idea of buying two houses, making a decision allowed them to propel themselves forward to get started.
Empathy is the trait every investor should have. You have to be able to put yourself in the other person’s shoes and understand where they’re coming from. Empathy ensures that we’re speaking to someone in a way that makes sense to them.
Always lead with value. In other words, if you want to connect with an investing expert, offer them something that they need help with that you’re good at. For instance, if you’re an excellent writer, maybe they need assistance writing weekly blog posts or editing their latest book. In exchange for those services, they can help you learn how they invest.
Don’t try to get rich quick. Get-rich-quick investors are a plague on the real estate investing industry. They often try to cut corners, which negatively impacts both buyers and sellers. As a result, real estate investors get a bad rap. When the industry takes a downturn, those who never should’ve been in the industry will leave and hopefully restore the reputation of legitimate real estate investors.
Don’t miss more of J’s nuggets of wisdom resulting from years of experience in this episode.
If you want to learn more about Zen and the Art of Real Estate Investing Podcast, check out http://www.trustgreene.com/podcast/zen/037