Here’s my advice for agents who ask me about investing in real estate.
One of the things I love is building wealth through real estate. I get questions about investing in real estate by new agents joining our market center all the time. Today I have some tips and advice to share if you’re interested in this topic as well.
As with all things in real estate, the No. 1 key to building wealth is your mindset. How we think, our experiences, and our perceptions all affect our money. I read a book called “The Psychology of Money” by Morgan Housel, which talked about and worked through different scenarios. They examined how different people viewed money and how that view was affected by the social and economic factors around them.
The very first thing to do when starting to build wealth through real estate is to reexamine your relationship with money. The way you think about it, save it, and spend it. By understanding our personal relationships with money, we can begin to unravel the path to build wealth. If we don’t start with the inside first, we won’t be able to build wealth at as high of a level as possible.
“Our view of money depends on many different social and economic factors.”
There are lots of books on the topic that go into further detail about this. I recommend starting with “The Psychology of Money” and journaling about it. Whether you had great financial role models or poor ones growing up, you can get back on track by critiquing your relationship with money and building wealth through real estate. There’s so much to unravel, and each situation is different, but this exercise is about you learning how you relate to money so we can start building that wealth.
If you have questions for me about building wealth through real estate or anything else related to the business, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.