One of the primary attractions to my site, blog contents and guest appearances on podcasts is that I am a working professional while also investing in multifamily real estate. It has not been an easy journey, and even today it is not without challenges, but it is easily possible. My goal is to help working professionals just like myself learn to invest passively or actively in real estate, taking advantage of its wealth-building power, while working their day jobs. Below are a few steps or key things to consider in order to make it all work for you.
Without education, you will not know the rules of the game. Without knowing the rules of the game, you cannot play the game well or will likely not even like the game. Excellence starts with proficiency and proficiency starts with excellence. Learn how real estate stacks up against the stock market, the importance of cash-flow and why most of the world’s wealthy have some portion of their investments in real estate.
This blog is a great source of education. Check out past articles as well as our resources page for great recommendations on real estate education. If you are more interested in how it works to invest passively, which I believe is best for most busy professionals, I created a 50-page report called the Passive Investor Startup Guide that can help anyone understand. You can get your copy for free here.
Get Connected to a Network
If you are a working professional, you are likely surrounded by other busy professionals and do not have a network of those who invest in real estate as you desire. The more that you immerse yourself in the world of real estate investing, the more likely you are to make your goals a reality. Thanks to the internet, connecting with others on focussed topics has never been easier. None of us in this era have an excuse for not having a network.
Connection is key. Join a local meetup, online forums such as BiggerPockets.com, listen to podcasts and join the conversation. As you get plugged in, this foreign topic will become your standard language and one that you cannot stop thinking and talking about.
Get Focussed and Committed
If you do not know me, in addition to my full-time job, my wife and I have four young children. Family is a priority and outside of work hours, the majority of our time is dedicated to serving dinner, doing dishes, playing with the kids and getting ready for bed. As you may know, parenting is a full-time job, regardless of your other responsibilities.
That said, if I was going to get serious about multifamily investing, I needed to find more time. For my particular situation, I had to get up earlier. You can read about my daily 4 a.m. routine here. The results were game changing. Gone was the feeling that I needed to be doing more. Gone was the anxiety from trying to make it work during hours dedicated to work and family. Gone was the fear of an unfulfilled dream and purpose, because every day for the last two years from 4:45 a.m. to 5:45 a.m. I am working on my real estate business. There is not enough time in this article to share the great results from this life adjustment! 4 a.m. was what I had to do; your need and adjustment may be different. Where can you make the time? Lunch hours? Evenings? Experiment.
Get Resourceful with Tools and Services
As you start working on execution – finding deals, speaking to agents or brokers, working with lenders, raising capital, or even managing investments as a passive investor – it is effective to leverage other resources. I learned this the hard way. Attempting to build this blog, manage social media, create all of my visuals, presentations and so on all by myself was madness. I began using skilled resources such as freelance services on Fiverr. In the future I will have a virtual assistant to help with some of my administrative activities.
Aside from the physical help, you certainly want to use great tools. To name a few, the Google Suites are great to keep you organized, a CRM database helps organize and engage your network, Calendly is a great tool for sharing your calendar and easily booking appointments and Asana is a great project management tool.
There are so many tools and resources out there to help busy professionals leverage time investing in real estate while working your job. I know it is possible because I did it, and if I could do it, so can you!
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Passive Investor Startup Guide
To find out more about what it looks like to invest as a passive investor in multifamily real estate, download our free Passive Investor Startup Guide here!
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Rodney Robinson II