As a real estate investing beginner, you want to quickly learn the tricks of the trade and see a return on every investment that you make.
I recently took the time and read Walter Isaacsonâ€™s book, â€œSteve Jobsâ€. Despite his incredible success, I came to learn in his book, that Steve Jobs was a distinctive and deeply flawed human being just like many of us. He made several mistakes including alienating his own daughter. But sometimes we all prefer to think of our heroes as just that, heroes; we hardly ever want to probe further into their personal lives because thereâ€™s a high chance that we would find something we donâ€™t like and they would stop being our heroes.
That aside, I realized that after reading the book I also came away from it having learned anyone can be great including any beginner thinking of venturing into real estate. So here are 7 lessons that Steve Jobs can teach a real estate investing beginner.
7 Lessons Steve Jobs Can Teach A Real Estate Investing Beginner
Jobs hardly ever did what every other guy was expected to do. He had odd personal habits, he drove around without a license plate, parked in handicapped zones and a few other things. But in everything that he did, he had tones of confidence and was very optimistic.
The first time is always the hardest and as a real estate investing beginner, you have to be optimistic and have self-confidence. This will help you overcome any fear that you have. Donâ€™t be afraid to try new investment strategies or make your first real purchase.
2. When You Fall, Get Up And try Again
Jobs was fired by the guy he picked to run his company. It was one of the most humiliating and one of the most public firings in corporate history. Did Jobs wallow in self-pity? Yes, he did but only for a short while. He got up, licked his wounds and started his own company, which was later bought by the successor of the person that fired him.
What can you learn from this? In real estate, you are bound to lose some and win some. In your first few deals you may lose a few thousands but provided it didnâ€™t bankrupt you, you can still try again and succeed. Learn from your mistakes and make the best of them.
3. Marry Art And Functionality
All the features you see on your iPhone have one thing in common; they all bear Jobsâ€™ thumbprint. He studied them and analyzed them for weeks and even months before they were ever introduced by Apple. His innovations and everlasting products will affect generations to come.
Every day, you are always reading about real estate investing tips for beginners because you are trying to make it into the industry but itâ€™s going to take more than this for you to realize any success. It is up to you to take these tips and put your own thumbprint on them. Discover new ways to rehab a house or to source for funds for your next house flipping project.
4. Follow Your Gut Feeling
Jobs clearly lived his life with very few regrets because he always listened to his inner voice and followed his gut. He planned to change the world and he did it through computers.
As a real estate investing beginner, you will probably have no inner voice and even if you do, it would probably be telling you not to do something. However, as you gain experience, a different voice begins to speak to you. You should follow this voice even if itâ€™s telling you to quit your 9-5 job and get into full time real estate investing.
5. Expect More From Others And From Yourself
Jobs was a perfectionist and he expected the same from everyone around him. He yelled, threw tantrums and berated people. Of course, the way he handled situations was far from pleasant but he did get things done because he pushed people to places where they didnâ€™t think they could reach.
As you start your real estate investing career, you should expect more from yourself and the people you work with. Jobs did his thing his own way so you should do yours your own way.
6. Surround Yourself With Great Talent
Jobs did what any successful entrepreneur does; he surrounded himself with people who had brilliant minds. They helped him create what Apple is today.
In real estate investing, you have to surround yourself with people who know more than you do. These people include lawyers, general contractors, real estate agents, etc.
7. Strive To Improve, Grow And Have Fun
If you plan to become a full time real estate investor, thereâ€™s absolutely no reason why you shouldnâ€™t have fun in your job. Always look for ways to improve on your business or how you can grow it into a multimillion dollar business. Nothing comes easy.
Even though you may not invent the next best thing after Apple, you may very well be the next real estate mogul. Anything is possible if you follow the lessons laid out above.
What do you think? Iâ€™d love to hear if you think Steve Jobsâ€™ philosophy can work for you.