The Modeling Tactic – How to Make Real Estate Investing Easy
Sometimes I make things harder on myself than they really need to be. After talking with others, I feel like a lot of us fall into that trap. We set goals for ourselves and realize that reaching them seems too impossible. What if it didn’t have to be so difficult?
When I first had the desire to start investing in real estate, I was really at a loss when it came to taking the first step. When beginning my research, I was made aware of all the things that I DIDN’T know about investing and I knew I had a lot to learn. I am no expert at this point in my investing, but I wanted to share how I eventually got over that fear. Once I did, I was able to purchase my first rental property!
Real estate investing is one of those daunting goals and it feels like it can be quite impossible for someone to jump into. But honestly, it doesn’t have to be. You don’t have to come up with a completely new business model and you don’t have to come up with your own ways of finding deals.
There is no need to invent the wheel! What you do need to do is get good at modeling other people. Investing in real estate is different than starting up a new business. When starting a new business, it is typical to try to come up with something that hasn’t been done before; something creative that will stick out from so many others.
Real estate is very unique though. You just need to find out what other successful investors are doing and model after them. There is no need to come up with some crazy new way to invest in order to find success yourself.
Jesus as an Example
When Jesus started his ministry here on earth, he didn’t go start a whole new church. No, he used existing synagogues to spread His message. It would have been silly for him to build his own synagogue – it would have taken years. So he used ones that were already established and fully functional. Don’t get me wrong, Jesus could have started with some brand new idea, but he chose to keep things simple. So we should try to simplify our strategies too. Why make things more difficult?
If you are looking to get started in real estate investing, do your research. Find out what is working for other investors and implement one of their strategies into your own investing career.
Here are some practical and biblical tips to point you in the right direction to start using the modeling tactic…
1. Pick a Strategy
The first thing you need to do is set a goal. Figure out what you really want. Clarity is crucial. One thing that I battle with is what I call “Shiny Object Syndrome.” When I don’t have a clear direction or goal and I see something new and shiny and I all of a sudden want that now more than what I thought I wanted before. Real estate is great because it is so diverse. There are so many avenues to take, but when starting out, it is best to set a course and stick to it. New ideas will distract you and keep you going in different directions. If you don’t set a straight course, you will be sure to wander and ultimately that won’t get you anywhere. So, clarify what it is you want and set your GPS on that destination.
Be sure not to set the bar too low! Remind yourself that with God, you can achieve anything as long as it is in his command. “I can do all this through him who gives me strength.” Philippians 4:13
Related: 5 Ways You Can Start Learning Your Market
2. Find a Role Model
Once you have decided what your strategy is, do some research to find out who around you has made it to that destination that your GPS is set towards. If your goal is to own a mobile home park, find someone who currently owns a mobile home park or maybe multiple parks! Figure out how they acquired them and set some actionable steps towards purchasing your own one day.
You may feel like a copycat if you end up modeling your ways after someone else. But even Jesus calls us to be modelers.
“Be imitators of me, as I am of Christ” 1 Corinthians 11:1.
Before we can start using the modeling tactic with others, we must first be imitators of God. Modeling is one of the biggest forms of flattery. It is the acknowledgment that another person is doing something right, therefore you would like to do that as well.
3. Character Counts
Be careful when choosing who to model after. Find someone who has good character and hasn’t cut corners to get where they are. As believers, we want to make sure we are honest in our business practices.
“Blessed is the man who walks not in the counsel of the wicked, nor stands in the way of sinners, nor sits in the seat of scoffers; but his delight is in the law of the Lord, and on his law, he meditates day and night” Psalm 1:1-2.
If you are at a loss for where to even being here are a few pointers. Pick up a few good books this year and learn about what other people are doing. Listen to some podcasts or jump on the forums of BiggerPockets. Find out what kind of investing strategies are out there. Then start asking people questions and find someone who is accomplishing the goals you want to accomplish too.
