Why Be Different in Real Estate Investing?

Why Be Different in Real Estate Investing?

I’m on a mini road trip out of Nashville which, by the way, is one of my absolute favorite cities. I don’t know how well this videoing is going to work since I’m holding since I’m holding my phone in the car. But I was driving and pondering life…actually, I wasn’t pondering life but I am reading this really cool book I don’t know if you’ll be able to see it. It’s called Different: Escaping the Competitive Herd, by Youngme Moon. I’m only about a paragraph and a half in, but the first paragraph was so amazing. I could even think about how it relates to real estate. It was basically talking about how everyone is always told that you should strengthen your weaknesses. But, instead, the idea is strengthening your strengths. I was thinking about this in terms of real estate. There are so many people who swear that even if you don’t want to be a landlord you should be a landlord for a little while, and learn how to fix things, and manage a property, and do all that. I absolutely hands-down disagree with that. I have no desire to be a landlord. I don’t want to manage properties. I want to be a real estate investor. I want it to be passive, and if I’m managing a property it’s not passive. It’s work. I don’t want to do work. I could care less how to fix a toilet. I could care less about lifting a hammer. As a real estate investor who doesn’t want to do any of those things, I don’t think that I should have to do any of that. What I need to get good at is managing my team who does those things. It all ties back into: my weakness is lifting a hammer and fixing a toilet. Most people would say that I should strengthen that weakness, but I don’t agree. My strength is managing teams, so why not work on that instead and let somebody else lift the hammer? That’s my thought for the day.

6 thoughts on “Why Be Different in Real Estate Investing?

  1. Haha I liked your "thought of the day." Gonna check out the book, thanks! Also, what exactly were you doing in Nashville?

  2. well I've certainly learned a lot about future home investing by doing the construction myself and seeing how much all of these things cost.
    Often times even specialized jobs such as tracing underground water lines and leaks, doing gas line, installing a service panel…cost less than paying someone to do the job once. And these people don't care a whole lot about how much things cost you in the future.
    How many plumbers will install plumbing access doors after fixing a leaking shower valve?
    How many plumbers will install copper tracer lines on underground plastic pipe? (.5%?)
    How many roofers will recommend the correct type of roofing to ensure that your ongoing costs are minimized?
    Will the electrician installing the bathroom fan choose a type which has universal parts so as not to necessitate replacing the entire fixture and having to do drywall work when the motor brushes die or the insulation on the windings shorts out, etc?

    Hopefully you can find a good team. Not sure how you'd go about doing it. That'd be a good video to make if you find one, though, IMO

  3. Tony, thanks for commenting! (not sure why I can't "reply" to it directly. But if you get this…I went to school in Nashville so still have friends there! I love visiting.

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