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Education

Published on: June 14, 2019

Education is the key to success. I have heard that, but does that mean that if you dropped out there is no hope?? Does it mean you have to have a college degree?? Not at all.

Whatever you choose to do in life, be the best at it. I am sure you do your job well. BUT you can always get better. Learn the little nuances of your job. Learn some things that other people who do your job dont know. Strive to be just a little more knowledgeable than the next guy.

And then be willing to share some of that knowledge. I try to share lots of information with other investors by writing this FREE blog. If you want to learn more about real estate investing you can take a one day class that I have every so often. Yes you have to pay for it, but I am sure that you will more than make up that money in your first deal.

You have to always be learning from friends, family, and co-workers. In fact, I just paid $997.00 to take a class last weekend. It was a 3 day class on the Power of Zero. I am not going to try and teach the class that I just paid for, but if you want to buy me some fancy lunch or dinner some time I can give you the highlights.

The speaker was at Alamo REIA, a big group that I belong to, and even when he was talking about the subject, I was already thinking about how I could use his strategy. I purchased a house the next week and I implemented parts of his strategy before even taking the class.

After paying the money and taking the class I got all the details. There were a few things that I could have done to get an even better deal, but mine was just fine for me and the seller. After the class I thought about all the little details that I will try on my next deal. That $1,000. spent will save me or make me lterally $1000s of dollars on every deal that I do in the future.

Within the next year or two I am sure that I will take another class for $500 or $1,000. Or I will attend a conference where I will spend about the same amount. Some of this education is out of town. You know what that means?? Vacation that ends up being a business expense.

If there is a conference in Las Vegas talking about buying notes and I want to learn a little about buying notes, why not attend. Education is a business expense. Travel to the class or conference is deductable. The hotel stay or AirBnB for your conference is a business expense also. The cost of the class is an expense for you business.

When your business is making money, why not go to a conference, ON YOUR COMPANY’s TAB, and learn some important information that will help you grow and help your company grow.

A hotel or an AirBnB in Vegas does not cost too much. The whole trip will probably be a few $1,000. AND you will have more knowledge in your brain than before. Hopefully that knowledge will bring you 10s of $1,000s. Thats why the IRS lets you deduct everything. They are going to benefit from you making more money.

Education is so important that I can not stress it enough. I like to say that it is like tools in your toolbox. The more education that you have is like having more tools in your toolbox. The more tools you have, the more things that you can build. So with your education, the more knowledge you have, the more deals that you can get done in real estate.

I like to think that I have plenty of knowledge, but I dont know everything. There is always something that I could learn from someone else. OR I can see how someone else is doing something better than me. That is increasing your knowledge.

Personally, I like to have all the answers because that is how I am. When people come to me that have issues with their house I want to tell them the different things that they can do with the house.

When they can not do any of the things that I have mentioned, I ask them what they really need from the house. Sometimes it is all cash. Sometimes it may be payments, sometimes there is a hybrid of cash, terms, payments, etc.

Knowing how to do all the different ways to purchase a house is very valuable. Learning another bit of information is definitely worth paying for. Having the ability to take all that knowledge and use it for the benefit of the seller and for yourself is priceless.

Good luck in your endeavors. I pray that you will help others out of their real estate situations and be able to make a little profit also. If you need some help to get the deal done, I love to partner on deals.

I heard a story about a factory that was having problems with a machine. Nobody could fix it. Finally one guy said I can fix it, but it is going to be $10,000. The plant manager said, no problem we will pay you the $10,000. No one has been able to fix the problem. We are desperate.

So he walks all the way around the machine, takes out his hammer and bangs on the machine with hammer. The machine starts working. WOW. Everyone is amazed. They are so grateful.

He gives the plant manager the bill for $10,000. The manager says that they need some detail on the invoice since it took him all of about 1 minute to fix the machine.

His invoice read: $100 hit the machine. $9,900 knowing WHERE to hit the machine.

Knowledge is valuable. You have to gain it and then know where and how to apply it.

Good luck and Happy Investing!!