How to be a Successful Real Estate Investor

June 2, 2013 — 3 Comments

As I travel the country teaching real estate investor seminars and training investors, one thing is becoming clear: The secret to being a successful real estate investor is not secret at all.

Yesterday, I taught another Ugly House Seminar in Richmond, VA.  This was the fifth one this year.  As I reflect on the audience they attract, it is actually helping me learn even more about my success, and how to help others obtain the success they desire.  These events attract investors of all types.  Yesterday, I was honored to have Karen Rittenhouse at the event.  I had read Karen’s blogs on BiggerPockets and am even “friends” with her on Facebook.  We had never met.  When she bought a ticket, I saw the email confirmation.  I was surprised.

As I taught yesterday, and got to meet her, it was a bit of a light bulb moment for me.  Karen has bought over 500 houses, and has a sizable portfolio.  Why would someone like that come to Richmond to sit in a real estate investor seminar all day on a Saturday?

The answer isn’t because I am a celebrity, because I am not.  It isn’t because I am a genius, nope I am not that either.  The answer is simple!

Successful Real Estate Investors like to be around other successful real estate investors!

The truth is, most of us obtain our success by networking with those that are where we want to be, or have been there before.  You see, it is easier to be successful (or more successful in Karen’s case) when you learn from other’s successes and failures.  This thirst for knowledge is something I have always had.  It is the reason I started the REI Expo.  Why not find a way to gather with hundreds (soon to be thousands) of investors that you can learn from, network with, and do business with.

So, you want to know how to be a successful real estate investor?  GO MEET SUCCESSFUL INVESTORS!

You can start doing this online now:

  1. Go to Meetup.com and type in real estate investor and your city.
  2. Join BiggerPockets
  3. Join my email list on the right hand side of your screen
  4. Like my Facebook page
  5. Sign up for the next REI Expo.
  6. Find a real estate investor association (REIA) near you

Is there anything else you can think of?

TimHerriage

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I started at the bottom, worked hard and am now one of the top Real Estate Investors in the business. I learned from some of the best, excelling early as an acquisitions manager and then moved on to partner with other skilled investors to create my own portfolio of productive rental properties and later to mentor others to do the same. I am still actively involved in Real Estate, giving a current awareness to the training I share. My wife, Jennifer, and I live in Rockwall with our sons, Alex and Will.
  • http://www.karensperspective.com/ Karen Rittenhouse

    Thanks, Tim, for the mention!

    We truly enjoyed yesterday. You’re such a fun, dynamic, and informative presenter. The day flew by and we left motivated and inspired!

    As you mentioned, we love to hang out with successful investors. When we learned
    that you had purchased twice the number of properties we had over the same period of time, we couldn’t wait to come hear what you had to share! We’re glad we did.

    One thing to add to your “start doing now list” is to attend your local landlord association meetings. That’s where you’ll find the local movers and shakers who already own real estate and who are usually planning to buy more. If you want to be a truly successful real estate investor, go where the successful ones are!

    Thanks so much for your seminar and we look forward to doing business together in the future.

  • http://www.wealthships.com Sharon Hiebing

    I agree, Tim, Karen is great (I want to be her when I grow up lol!). One other place that is great to hang out at is on Linkedin groups. There are many targeted at real estate investors – subscribe to the groups and then monitor the daily updates. It is full of wonderful content. In fact, it’s how I found you and this blog today. Thanks!

  • Randy

    This should be obvious, yet I certainly needed to hear it. Thanks,