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In this episode, I answer questions sent in from Jake a college student who listens to the podcast.
“Hey Tyler, I’ve been listening to you for over two years now and I wanted to say thank you for what you do because it’s obvious you do it just out of the joy of helping people. That being said, I’m twenty years old and going into my junior year at NC State University and would like to know what your best advice would be for someone who wants to begin purchasing multi-family properties as soon as possible after I graduate. I’m majoring in Agricultural Business Management and will most likely be in some sort of sales role after college. What would be a good mindset or game plan be for someone in my situation who wants to become a full-time landlord as soon as possible? Thanks again for the great content you put out!”
Sales jobs (especially commission only sales jobs) are some of the best training available today. I would start with a commission only sales job tomorrow to begin sharpening my future sword. The ability to sell effectively is by far one of the most important skills a real estate investor can develop. Sales skills are mandatory to convert leads to capital and to find sellers in which you can structure deals. What you will learn by doing in a sales position will serve you well the rest of your life in every way possible!
In addition to learning to sell, learning to generate leads in order to have someone to sell to is equally important, in fact, they go hand in hand together. A great way to get started in lead generation is to read the book DotComSecrets by Russell Brunson. This book lays out a framework and mindset that will lead any entrepreneur that follows the path to wealth. You can get a copy of the book FREE (plus shipping) at CashFlowGuys.com/DotComSecrets
My next piece of advice would be to remain debt free (assuming you are debt free now), if you are not, get debt free before you buy any property. Being debt free (besides a mortgage on an asset) makes it much simpler to exit the rat race, it’s just that simple. So as not to ruin the episode by giving away all the goodies in these show notes, go ahead and listen to the episode and write to me to tell me what you think!
Email to info@CashFlowGuys.com or visit CashFlowGuys.com/AskTyler to book a slot on my calendar to help you get unstuck or your questions answered.