Have you noticed anyone with an opinion and heavily edited insta-stories can be an expert on just about anything overnight? It’s true. As you scroll through social media you see the men and women throwing out their advice on buying and selling Real Estate as if they know anything more then the guy that just delivered your pizza. To me when I see this I find it a bit troubling that someone has somehow earned an audience’s trust and in turn is implying to them they really have the best advice. In the last couple of years the short “clip” has become the content of choice for these guru’s to get your attention and draw you into their web of second hand data and gas lit knowledge bombs and in reality they are more dangerous than good. Sure they don’t mean to harm anyone in general but in a time when people want to trust people and looking for an opportunity, it is a shame that this is the best they have. I feel better now that I got that off my chest….. So instead of paying attention to these consultants and advisors I have a couple of suggestions for you to rid yourself of the know nothing Guru and find the best resources in Real Estate.
Find an Expert: One of the things these clips have done is made anyone seem to be an expert if they have an audience but in reality it’s not true. What would make them an expert is if they have been a part of the transactions they claim to be teaching your about. For instance, when the Guru tells you to buy investment property and they haven’t really done so themselves I would run fast. You know the guy that has been talking about Real Estate for 10 years and has a rental house. That’s not the expert. The expert is someone that has bought and owned a bunch or has been a agent on either side of many transactions. Don’t be fooled by the fancy words and instead ask questions like “how many rental homes do you own”, “walk me through your lending process” or “what markets have had the most ups or downs recently”. If they can’t give you first hand knowledge kindly pass on their suggestions.
Find Information: All information is not the same and sometimes the easiest information is not the most accurate. Once you find an actual expert be sure to ask them for their favorite resources when it comes to investing in that specific type of Real Estate. Their are endless sources of info but you need to skim off the top the good reliable ones because much of that is driven by ad sales and subscriptions. I think paying for information is smart too. There are many industry websites and databases that can provide high quality information and news to help you stay on top of the market. So ask your expert what they suggest and don’t be afraid to invest in that information as well. But always shy away from someone trying to sell a service or membership if its not part of your ultimate investing plan.
Networking: This is getting more and more difficult to create a quality engagement but the practice of networking is still a top way to be in the know of what’s happening locally in Real Estate. There are local investment clubs that attract some good engagement but the best is to ask your expert for a connection to the real players. If you want to meet single family investors be sure to ask your expert for the top single family investor in your area and go meet with them. If you want to learn more about industrial be sure to ask your expert to connect you with the top couple of industrial developers in the area. Most successful investors will make the time to chat about your goals and offer some insight into their business, but going from chamber event to chamber event collecting business cards from Realtors is not that effective and more a waste of time. Another way is to study local news and see who is making the best deals in your area and reach out. These are not celebrities like the Guru on instagram but real people that have real advice. You might be surprised how many you can get to directly through LinkedIn and a simple phone call. Get to them and ask some great questions so you can use their mistakes to your benefit and as your progress be sure to thank them and let them know they had an impact on your investments.
So here is what I am getting at. If you are serious about investing in Real Estate, go ahead and cut out the noise and get to the people that can move you down the field. Honestly if you seek out the experts and really experienced people early you will realize that it is really not that difficult and attainable at just about any level. You will be less frustrated with not finding deals or information and you won’t be asked to subscribe or buy an ad. Just good old real estate advice from people that know what they are talking about. Its how it should be and anything else is asking for trouble and wasting your valuable time and money. Good luck and go find that Expert today!
Curt has been in the Indianapolis Real Estate business for over 15 years and spent his first years learning all aspects of commercial management and brokerage. He has had great success in managing existing commercial projects and new retail and office developments. Curt specializes in land owner representation and purchases in the Westfield Indiana market as well throughout the Indianapolis Metro area. Curt is passionate about growing the local Westfield community and in his free time volunteers with Student Impact and raising 2 children with his wife Jennifer.