Standing on the Shoulders of Giants
The Title of this blog post was inspired from the famous Issac Newton quote…
“If I have seen further than others, it is by standing upon the shoulders of giants.”
~ Isaac Newton
I’m always a humbled by the number of people who tell me that I’ve been a mentor for their success in real estate investment. Some of them have heard me speak at seminars. Others have read books I’ve helped write or have listened to me speak via the web downloads that people have access to.
In every case, these people have taken information they attribute to me and have used it to buy revenue property, often with investment partners. I truly am happy for you all.
But here’s my chance to let you all in on a fact of life that way too many people still don’t understand: Real estate investing is a learned skill and there are things you can do to “get it right.” In other words, the things you think you’ve learned from me are successful business strategies that I have learned from others.
That’s right, instead of trying to do it all myself, effectively making myself the master of my own disaster, I deliberately chose to take educated steps on the path to real estate investment. That does not mean I never make mistakes. It does mean that I learn from my mistakes and take deliberate steps to never repeat them.
Learn, then learn as you go
When I first got into this business, buying the “right” property probably generated the greatest worry. The quest for money partners was a close second. But neither hurdle was all that daunting since a solid real estate investment education meant I went into this business with both eyes wide open.
That foundation helped me buy my first properties only after I knew how to find properties that cash flowed and attracted quality tenants who stayed put to help me pay down that mortgage. By the same token, I knew where to look for money partners and how to bring them on board only when they understood my exit strategy for buy-and-hold revenue properties.
But it’s not like I invented these concepts. My business strategies are solidly based on proven Real Estate Investing fundamentals, taught by some of the industry’s leading thought-leaders.
As part of my own commitment to my life-long passion for learning, I never stop looking for new ways to tweak my own systems. And that process is largely dependent on my relationships with other experts.
For example, I continue to invest a lot of time my relationships with individuals who bring specialized knowledge of real estate markets, lending, law and tax law to my business. I also know who to contact when I need properties inspected, managed or renovated and I have learned how to develop my network to the point where I have money partners who are actually waiting for my next call.
This section of the Rai$ing Capital Academy may prove to be your favourite. This is the section where we get to learn from those who have been there before us.
We truly get to STAND ON THE SHOULDERS OF GIANTS…
Russell Westcott
#Inspire # Encourage #Love
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