Feb 20, 2020
The first year of real estate investing comes with numerous challenges, adjustments and variables that you won’t encounter in the 9 to 5 world. What are some of the obstacles investors face in their first year? What are the variables we need to be prepared for? How do we use these lessons to become better leaders? In this episode of the Real Estate Money School, investor Robert Heyder shares his personal journey and how he built up his business to owning and managing 110,000 sq/ft of commercial property.
Three Things We Learned
Don’t leave the 9-5 too
Many of us want to leave the 9-5 world as soon as possible to invest full-time, but there are advantages to holding onto a steady income source. It helps you get bank financing, and can supplement your income in that first year.
Bad deals provide necessary learning
Bad deals happen, and even though they create a lot of stress and strain on our businesses and finances, we can learn a lot from them. The challenges that come with bad deals will teach us lessons that will make us better investors.
Our reactions to challenges impacts our teams
Real estate investing isn’t always easy and there are many low points where we may become discouraged. It’s easy for our negative mindset to affect our team, and bring their morale down. It’s important to set expectations with people upfront to know that hard moments can happen.
Robert Heyder is the founder of Core Properties, co-founder of Core Realty and a VA company, Bottle Neck Real Estate. Robert owns nearly $6 million in residential rental properties and 110,000+ square feet of commercial real estate valued at over $14 million.
Visit https://robertheyder.com/ for more information.