What is Real Estate Investing on Autopilot?
I was at an investor meeting this past weekend in my market of Windsor, ON, and it was jammed with many people looking to start investing in real estate, and many people from other markets looking to to grow there portfolio by investing in my market.
While I was sitting there, I got to thinking back to before I started investing in real estate, and the many conferences I attended to learn more about this amazing industry.
As I was listening to the presenter whom was talking about multi unit investing, I realized that this has got to be very confusing to people whom never invested in real estate.
Because I myself was that person over 6 years ago, overwhelmed with all the ways that you can make money owning properties.
However, knowing all the strategies, vs. actually applying them, is a huge difference, and something that is very hard to prepare for.
I was not prepared when I started investing in real estate.
I thought I was since I had a wealth of knowledge on what real estate investing is from all the seminars I’d attended, all the books I read, and all the blogs I read.
But, that’s where the disconnect is, and why it is so hard to start investing in real estate, let alone, invest in real estate on autopilot like many of the presenters lead you to believe.
This is because you aren’t taught how to invest in real estate, you are taught about investing in real estate.
These conferences, these books, these meetups, these seminars, these webinars...
All teach you about real estate, how to be involved, how to start your real estate investing business.
But to get to the point where you are hands off, where you go from self employed in your real estate investing business to investor...
...which Robert Kiyosaki, whom wrote Rich Dad, Poor Dad refers to in his cash quadrant, is the difficult part.
Sure you need to know the basics, the many strategies such as fix and flipping, BRRRing, wholesaling, rent to own....
...and sure you need to know how to get a lease signed, screen tenants, and collect the rent...
...but the micro stuff, the details, the ins and outs you need to know when starting your real estate investing business, and how to get it to run on autopilot?
This you don't learn!
It's unfortunate because this is what you need to learn, to figure out, to get you to invest in real estate hands off.
Until you learn how to do this, you are going to spend a lot of time involved in your business, as an employee, vs being the investor you were told you'd before you started investing in real estate.
I didn’t learn how to be hands off until I hired a coach, whom taught me what they did to get there business to run on autopilot.
Even after being shown the right way, it was still very hard for me to transition, to seek out professionals that could help run my real estate investing business.
Up until this point I had been doing and learning everything as I went.
Why didn’t I seek out help?
One, I was cheap, thinking I was saving so much money by doing everything myself.
But more then that, I didn’t trust others to do what I was doing.
I had already established all my own processes and systems such as how I recorded my income and expenses at my properties, how the tenants communicated with me, how I filed all my paperwork, how paid my contractors and tradespeople...
...And now I had to go and undo all of this, creating new systems and processes by working together with the many professionals I needed so that my real estate investing business would run on autopilot...
Allowing me to step away, be hands off, and be the real estate investor I always wanted to be.
This has always been my goal from day 1, to build a business that is run by people I trust, to build a business that runs on autopilot, so that I could focus on living life everyday.
WHAT TO DO NEXT
If you want to skip the learning process of figuring everything out on your own, and jump straight to starting a real estate investing business that runs on autopilot from day 1...