Taking action is the single surefire way to get started in any profession. It is especially true in the real estate world because, with all the available information, it’s easy to get stuck in too much analysis or research. This theme comes up over and over again on the podcast.
In this episode of Zen and the Art of Real Estate Investing, Jonathan is speaking with Kyle Root, owner and operator of Empire Estates, a leader in long-term rental properties in the Midwest. Kyle began his real estate investing career at 26 years old after spending time in the construction industry and researching the topic of investing.
Read MoreWhether it’s real estate investing or a multimillion-dollar corporation, the basic components of businesses all operate the same way. If you can grasp the concepts that create a successful business, you can transition your understanding to nearly any industry, including real estate.
Since the inception of Zen and the Art of Real Estate Investing, the podcast has been downloaded more than 30,000 times. While that number can’t compete with Joe Rogan’s downloads, it’s pretty incredible for 35 episodes of a real estate podcast.
A lot of new real estate investors make the mistake of believing it’s passive income. Doing real estate the right way means being involved--especially if you’re new to investing. And you should treat it like any other entrepreneurial venture because it’s a business like any other.
It’s not uncommon for someone to fear real estate investing, especially for people new to the concept. They might believe they don’t have enough money to start or maybe aren’t sure what types of properties they should invest in. Rather than push through their analysis paralysis, they never even begin.
Data is key when it comes to making informed decisions in the real estate investing world. Whether you love spreadsheets or not, data allows you to develop some level of trust with the person doing the data analysis. While some people take comfort in having mentors, others only trust the numbers. And for a lot of people, especially beginners, data allows them to get over the early hump. But is it enough to solely rely on it?
Whether you’re new to property management or still considering it, remember that the happier your tenants are, the fewer calls you get. And sometimes, too, it can be quite difficult to fully understand a property owner’s predicament when you haven’t put yourself in their shoes. That’s why investing in your own property goes a long way – not just in building your wealth, but property management-wise, too.
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?
Read MoreIn today’s episode, Jonathan speaks with Ricky Carruth with 20 years of experience in the real estate business, both as an agent and investor. Ricky is the founder of Zero to Diamond, a social media platform as well as a free coaching program for agents to learn and collaborate. Ricky is also looking to buy $100,000,000 of real estate in 2023.
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