I want to get back to some of the lessons you can actually learn at a real estate investment seminar.

I know in one of my recent videos, I gave you some of the different reasons (https://youtu.be/SqiEICxJW6k ) anyone would even go to a real estate investment seminar. A lot of people were asking me, “Well, Billy, if you’re living in Barcelona, why are you flying back to the United States to attend a real estate investment seminar? You’ve been doing this for a number of years, you have a nice portfolio of properties for someone who’s still working a day job. Why would you even do that?” I addressed that in a different video, but today, I want to talk to you and share my thoughts, especially for those of you who maybe have not been and those of you that have already been. I’d love to get your comments below, too.

Think about some of the different things you can learn at a real estate seminar. I went to one here just about a month and a half ago with a guy named Brad Sumrok. He deals in multi-family apartments and syndication, and that’s the same space I am playing in. It was really cool to go there.

I want to share with you the top three things he helped remind me of when it came to moving closer to my goals. The first one that was apparent to me was about mindset, especially for those of you, like me, who are in a multinational business. Everything’s pretty much laid out for you, especially if you’re specialized, and if you’re in sales, marketing, or management, and you are in a consulting area. You pretty much know what you need to do each and every day, but as you start to make this transition to becoming an investor, whether you decide to do that actively or passively, it’s got to start here. It’s got to start with your mindset because there’s a certain thing just around the way that you work, or when you’re becoming an entrepreneur. It’s a very different mindset, the entrepreneurial mindset versus the employee mindset.

For someone who is punching the clock, and I’ve been doing that for over 20 years, there’s a certain association that comes with it. You go in and you do your job and you get a paycheck. When you become an entrepreneur, or an investor, it’s about how you can make sure you are learning as much as possible to minimize the risk so you can place capital in the right place as an investor.

Whether you’re working actively or passively, it starts with the mindset and your relationship with money, your role, etc. This point reinforced the idea that everything needs to start with your mindset. If your mindset is not in the right place, it’s going to be difficult for you to become a successful investor as it relates to real estate.

Since I’m in the corporate game, in complex B to B sales, I need to know my numbers. Know your numbers so you can get the result you want. Imagine you tell yourself you’re trying to lose weight. Well yeah, that’s great but how are you actually going to put a plan together to lose weight? It’s a very different thing if you say you’re going to lose 15 pounds in the next month because then you’re going to put together a plan that’s going to help you get to 15 pounds. You’re going to have specific goals, which will help you to better understand that.

It’s about how you can make sure you are learning as much as possible to minimize the risk so you can place capital in the right place as an investor.  – Tweet  

I talked about this in another video before, so if you wanted to check that out, you definitely can. It’s about how you set your goals, and how that’s related to knowing your numbers. Imagine you want to create $10,000 of passive income for yourself, or €10,000, or whatever your number or your currency is. If you know each property you’re purchasing, or each door you’re investing in as an active or passive investor is going to give you $100 per door per month, and you know you want to earn $10,000 in passive income at $100 per door, you know you need to invest in 100 assets that are creating at least $100 a month. That’s your goal, but you need to know your numbers and be very specific and clear so that will ultimately help you get to your goal.

We also talked about the whole personal financial statement. This is something that’s close to my heart because I love to play Cashflow 101 (https://youtu.be/ygrixWK1ROY ). We bring everything back to your personal financial statement, which is the amount of money that’s coming in every month, the amount of money that’s going out, as well as a balance sheet play to understand how many assets you actually have and how many liabilities you have.

Everything needs to start with your mindset. If your mindset is not in the right place, it’s going to be difficult for you to become a successful investor as it relates to real estate.  – Tweet  

You need to know that as a company and you need to know that as an individual as well. This is getting back to knowing your numbers. When you go through that and you feel uncomfortable, reach out to me. I’d love to talk to you about it. You got a link here to be able to contact me.

The last part, which was apparent over the two days that I was there, is you need to be able to connect with your tribe and go deep in terms of your understanding. What do I mean by that? I am a multi-family investor who does this long distance, and so I love being surrounded by people that are also multi-family. If you’re in apartments, even better, because there’s an understanding that we have a common goal, a common dream, a commonality to be able to work toward investing in multi-family real estate. That is just being surrounded by people that love doing what you do. It’s great. If you like to go swimming, guess what? You probably like hanging around with swimmers that like to talk about swimming, all the different exercises you do, the different types of strokes, etc.

Find your tribe, and once you do that, go deep on your knowledge. This is kind of a combination of the two. When you’re with your tribe, do as much as you can to actually learn new things. Whether you want to learn something new about the due diligence process, look at different ways of being able to finance a property, or being able to work with a new operator, all of those things are ways you can actually deepen your knowledge when you’re surrounded by your tribe.

I hope that also helped you so you can get closer to your goal faster, be clearer on why you would want to, and find out some of the things you would learn at a real estate investment seminar. So just to recap once again, I talked about helping you understand the mindset, I talked to you about knowing your numbers, and then also about surrounding yourself with your tribe and going deep into your knowledge.

If any of those three resonate with you, this is my question for you:

Which of these resonates the most with you, or what have you learned that could be helpful for somebody else?

Go ahead and share that in the link, or share that in the comments. We’d love to hear from you.

For those of you who want to know more about how I’m living in Europe and investing back in the United States, I have a free eBook for you. You can pick that up at keeponcashflow.com/roadmap.

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I would love to hear from you everybody. Have a great day! This is Billy Keels with KeePon Cashflow, and as always hasta la próxima!

You can also check out my latest podcasts and collaborations here keeponcashflow.com/podcasts/