We had a great time at Southside Parlor - we had the whole roof to ourselves until well after 8pm. The weather was beautiful, and we had a lot of interesting real estate conversations and one unexpected conversation about 50 Shades of Grey - don't ask!
One conversation I had with a few of the investors had to do with value. If I ask an investor about value, the typical answer might be to discuss how much a property is worth - what's it value?
But I want people to understand value in a different way.
As investors and entrepreneurs, our job is to deliver value. For example, if we buy a distressed asset from an owner facing foreclosure, we are providing value to multiple parties: the owner, who avoids the mess of a foreclosure as well as the credit issues that come with it; the bank, who avoids having to deal with the expenses of a foreclosure and the effects it has on its credit ratings; the community, who avoids an empty house that is an eyesore; and of course, the future tenant, who is provided with a roof over their head.
So what we're doing - what we're getting paid for - is simply delivering value to multiple parties.
If you want to succeed as an investor, it's probably wise to adopt this mantra: "The more value you can provide, the more money you can earn."
However, some of us are "waiting" to provide this value. We're waiting until we have a property to buy or enough money to buy one. And until we have one or the other, we sit on the sidelines and wait.
But there's a lot you can do right now to start providing value to others now.
For example, this meetup is an example of providing value. By helping to connect people as one of the organizers, I'm able to give people access to resources and networks that will help them succeed as an investor.
And even outside of real estate, there are ways to provide value.
Can you write an article for a website? It doesn't have to be based on actual experiences. It can be an article on the top five real estate books you've read and why you thought they were great. Wouldn't that be of great help for someone just starting out?
Or what about helping an actual investor write articles for their website?
What about helping an investor build a website?
Don't have those technical skills?
Why not jump on Udemy and pay $15 to learn how to create an app? You think that if you offered to build a mobile app for an investor that they would turn you down?
Not into writing or doing "technical things?" More of a people person?
How about attending a real estate seminar and making some connections. Get to know others and start to build your "rolodex" of people you know. Then, next time you're talking to an investor or a professional, you might be able to introduce one of your "contacts" to them. Now you're a connector and there's value in that.
If you can adopt an attitude of delivering value to others no matter what it is you're doing, then you'll be well-positioned to succeed in real estate and any other business for that matter.
So, don't wait around until you've amassed a small nest egg to start "getting involved in real estate." Get involved right now by delivering value.
If you do that, you'll find your networks expanding and new opportunities appearing.