REI Wealth #54 - Featuring Flip and Dani Robison Issue #54 - COVID-19 Special Report | Page 23

Build up your real estate knowledge
A clear lack of knowledge can be a source of apprehension and anxiety especially if you ’ re unclear about the process , strategy , or terminologies used in practice . Due diligence can help you come a long way . In this day and age , there are a lot of resources that you can find online from blogs , webinars , and even podcasts that are just a few clicks away . Nothing beats guidance from someone who ’ s done and been through this experience already .
It ’ s important to know that you have to be specific in gaining knowledge about real estate investments . Once you pick a strategy or niche , read on about it and use whatever access to sources you have in your disposal . Also , write your goals down , list the steps needed to get there . Arm yourself with the right education and attend as many investment meetings as much as possible .
Accept the risks
There is no guaranteed so called safe deals , but there is shadowing and mentorship that could help . Sometimes learning all the possible pitfalls is even more important than learning the positives of deals . Learning how to stay away from pitfalls is a tremendous plus and keeps the motivation . The more you understand the chain of events that lead to these errors beforehand , the more you can prevent these from happening in the future . Accept the potential risks and learn from them .
Learning the process of risk management in a repetitive process would become habitual for you . Becoming accustomed to these risks will help you to become motivated towards investing . Find someone who will educate you to better understand risks and handle them as best as possible .
Build a team
It ’ s a good idea to gather information and opinions from experienced sources . You need partners who can help you along the way who are not only a source of guidance but who are essential in accomplishing day­to­day operations of management . Building a good rapport with your partners and clients is crucial .
In time you will realize just how amazing real estate investing is when guided and helped by the right people . Attend our monthly meeting every first Thursday of each month at 6pm . To learn more , contact us at ( 734 ) 224­5454 or email us at info @ getuwe . com .
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