Success in real estate investing isn’t something handed to you on a silver platter. Trust me, I’ve been there—struggling, making mistakes, and learning lessons the hard way. But, as I look back on my journey, I realize those tough lessons paved the way for the success I have now.

On a recent episode of my podcast, I shared seven key lessons I wish someone had told me when I first started investing. These are the things I learned through trial and error, and they’ve helped me avoid costly mistakes and keep moving forward in this business.

If you’re just starting, or even if you’ve been at it for a while, I hope these lessons help guide your way.

1. Defining Your “Why” Before Investing

Making money is often the goal, but let’s be real, money alone won’t keep you going when things get tough. Real estate investing comes with its fair share of challenges. And, if you don’t have a strong reason why you’re doing this, you’ll likely quit when the going gets rough.

Maybe you’re after financial freedom so you can spend more time with family. Perhaps you’re working toward retiring early or building generational wealth to leave something behind for your kids.

Whatever it is, take the time to define your “why.” Write it down and look at it often. Let it drive your decisions and keep you focused when things get complicated.

2. Role of Education in Building Confidence

Real estate is something you’ll learn through doing, but also through continuous education.

When I started, I was hungry for knowledge. I devoured books, like Rich Dad, Poor Dad and Who Moved My Cheese, which got straight to the point and helped me understand the basics of investing.

I then applied what I learned, tested strategies, and learned from my experiences. You’ll never know everything before you start, but you should at least have enough knowledge to feel confident taking the first step.

3. Networking with the Right People

Real estate is a people business. And, you’ll be a lot more successful if you’re connecting with others who are doing what you want to do.

But here’s the thing: not everyone you meet is going to be someone you should follow. It’s important to choose your circle wisely.

I remember when I joined a real estate podcast network. This opened doors for me to connect with a wider audience of investors and industry professionals. It wasn’t just about learning from them—it was also about sharing my experiences and growing my own network.

If you get around the right people, you’ll get more opportunities, tips, and partnerships that will help you grow.  

4. Creative Financing Strategies When Money Is Tight

One of the biggest myths in real estate is that you need a ton of cash to get started. Trust me, I didn’t have piles of money when I started investing. And yet, I was able to make my first deal work.

How? Creative financing!

Here are some strategies I’ve used over the years that allowed me to get deals done without deep pockets:

• Seller Financing - This is when the seller acts as the bank and finances the deal for you.

• Private Money Lending - Individuals lend you the funds you need to complete a project.

• Partnerships - Partnering with someone who has the money but lacks the time or expertise to manage the deal.

• Hard Money Loans - A short-term loan that helps you finance the purchase and rehab of a property.

Money isn’t always the answer. Leverage creative strategies like these, and you can get deals done without having to pull from your own savings.

5. Spotting and Acting on Great Deals

There’s a notion in real estate that the money is made when you buy, not when you sell. This means that recognizing a great deal at the right time can make or break your success.

You have to get good at spotting opportunities. Know your market inside and out, and stay aware of foreclosure auctions, distressed properties, or properties that may be undervalued.

Once you find a great deal, don’t hesitate. You need to act quickly. A good deal won’t last long, and hesitation could cost you.

6. Guarding Your Reputation in Business

If you’re trustworthy, people will want to work with you. If you cut corners or break promises, it won’t take long for that to catch up with you. So, always do what you say you’re going to do and be honest about what you can deliver.

When things don’t go as planned, be transparent. Whether it’s with partners, investors, or clients, honesty is the best policy.

Protect your reputation at all costs, because it’s what will allow you to build long-lasting relationships and grow in this business.

7. Taking Action to Move Forward

You can have all the knowledge in the world, but if you don’t take action, nothing will change.

One of the biggest mistakes I see new investors make is overanalyzing everything to the point of paralysis. They’re afraid of making mistakes, so they never pull the trigger.

Here’s the truth: nothing is ever going to be perfect. There will always be risks, but you can protect yourself with smart contracts, due diligence, and by learning as you go.

The most important thing is to take that first step. Learn from your mistakes, keep moving forward, and eventually, you’ll find your groove.

Do not miss anything about the lessons I learned in real estate investing. Listen to the full podcast episode! 

Tune Into HomeBrew Podcast for More Practical Real Estate Tips and Advice!

The lessons I shared here are just the beginning. If you want to dive deeper into these concepts and hear more practical tips from real estate professionals, tune into HomeBrew Podcast.

And, if you’re ready to buy, sell, or invest in real estate in South Carolina, JW Martin Real Estate is here to help. Contact us today, and together, let’s make the best decisions for your investment goals!

Apply as a Guest on HomeBrew Podcast!

Are you an expert in real estate or a business owner with a valuable story to share? Apply to be a guest on the HomeBrew Podcast! Get your voice heard and share your experiences with an audience eager to learn from your journey.

Apply Now