In 2018 I bought my first investment property. I literally learned what to do from podcasts and books. Oh and I also took a real estate night class at community college that semester.
The most important things I did were:
1) Got my money right. I focused on investing every dollar above what was needed to live. I was able to save a ton by bringing down my expenses. Also tracking my expenses allowed me to get clarity on how much I needed to earn from passive income to achieve financial freedom.
2) Build my team. I flew out and met lots of people I had been networking with and talking to for months, and got to know them in person. It made a huge difference to be able to build relationship and trust with people I plan to work with for a long time. Not all have lasted but the important ones have.
3) Take action. There were hurdles along the way and LOTS of fear buying investment property sight unseen, but I had set it up where at least 3 other people on my team had seen it and gave the go ahead so…now it was just up to me to follow through on my goals.
Real talk that first investment is still my best!
I talk about my first RE investment with @tonyjrobinson here: www.lyonideas.com/my-first-real-estate-investment
Would you be interested if I ran through how I analyzed that first deal?
Drop a comment if so and with any of your questions about investing in real estate!
#realestate#realestateinvesting#financialfreedom#oosinvesting