6 Critical Lessons Every Newbie Needs to Know About Real Estate Investing

by Brandon Turner

I was 21 years old when I bought my first investment property.

I’d like to pretend everything went smoothly — but that would be a lie. Sometimes it was downright messy.


Because I didn’t really know what I was doing!

That’s the story for most newbies. It’s a scary thing venturing out into the world of real estate when you don’t have a lot of experience. I still remember the fear, the uncertainty, the excitement — it all comes with the territory.

1. You won’t get rich overnight.

Sorry, it’s just not going to happen.

You will likely get rich someday if you stick with it. But that’s the key: sticking with it. Ninety percent of those reading this article won’t.

So when things get tough, will you lose your passion? Or will you fight through?


2. No one is going to learn for you.

You can’t hire someone to do your pushups for you. It doesn’t work that way. In the same way, you can’t just start buying properties hoping that other people (your agent, your spouse, your mom) is going to make it work out.

The responsibility is 100 percent on your shoulders.

So take your education seriously!

Stop listening to the radio — you’ve heard those songs a thousand times. It’s time to turn your car into a mobile university. Listen to audiobooks about real estate, business, and productivity. Listen to real estate podcasts and glean wisdom from the guests who share their stories. Get an Audible subscription and start listening to audiobooks like The Book on Rental Property Investing.

Attend local real estate meet ups and clubs and get to know people who are doing amazing things with real estate — and listen to them!

Remember, no one is going to do your learning for you.

3. Your greatest limitation is between your ears.

Inside your mind is a thermostat that controls how successful you become. If you set the thermostat at a certain level, your mind is going to regulate your actions to maintain that comfort level. For example, if you believe, deep down, that you are worth $50,000 a year, you’ll make about that much. Start earning more, and the thermostat slows you down. Earn less, and the thermostat kicks in and your hustle increases until you get to that level.

If you really want a mind-blowing revelation, Brian Tracey (author of The Psychology of Selling) states that this thermostat is actually set by the amount of income your father makes. Boom.

And this isn’t just about how much money you earn. Your mind sets limits on almost everything you do. This is often referred to a “limiting beliefs,” and they’re holding you back from greatness.

So if you want to achieve success with real estate, you’ve got to adjust your internal thermostat!


Get around people who have a higher internal thermostat. Spend the most time with five skinny people, and you’ll be the sixth. Spend the most time with joggers, and you’ll be up at 6:00 a.m. running with the best of them. Hang around with five millionaires, and you’ll be the sixths.

So crank that baby up!

4. Stop listening to your crazy uncle.

“I had rental properties once. I lost everything, including my shirt.”

Yes, I know your uncle had rentals and lost it all. Or maybe it was your cousin. Or your neighbor. Or whoever.

Everyone knows someone who lost a lot of money in real estate. Because failure does happen.

But does that mean it’s going to happen to you?

The truth is, a lot of people DO fail at real estate. But it’s not because real estate is impossible to succeed at. It’s not even because real estate is risky. It’s because real estate is hard. It takes work. It takes dedication. It takes a continual drive to keep learning, to keep improving, to keep growing.

So if you aren’t willing to put in the work, to continually improve, to invest your nights and weekends becoming a better version of yourself, then fine, listen to your crazy uncle. But you’ll never experience the phenomenal life that awaits you.

5. Math matters — a lot.

Repeat after me: “You make your money when you buy.”

What does this mean?

Simple — it means that if you don’t have the right math going into a deal, you’ll never get the right profit coming out of it. It means that if you overspend at the beginning, good luck ever trying to make money from the deal.

You have to buy it right up front. No one is going to come save you from a bad deal.

So understand that the math matters. The math is what tells you it’s a good deal. The math is what tells you that you’ll make cash flow. The math is what makes you a millionaire or another failed landlord.

The part that most wannabe rental property investors screw up is calculating the expenses.


Sure, there is the mortgage payment. And maybe some repairs. But that’s it, right?


There’s also utilities. And vacancy. And capital expenditures, like a new roof every 20 years. And management. And taxes. And insurance.

All these things are fairly straightforward to estimate before buying a property — even before going out to look at a potential property, and forgetting one of these can cause huge financial problems.

OK, on to number six.

6. The market today is tough… but doable.

OK, I’ll admit it. The market today is different than it was five years ago.

It’s hot.

Investors are coming out of the woodwork overpaying for crappy deals that I wouldn’t touch with a 10-foot pole.

So does that mean you should shut down your ambitions and go back to playing World of Warcraft with your little sister?


It just means you have to be smarter than the average bear.

It means you need to be smarter, faster, and cleverer than other buyers.

Maybe this means starting a direct mail campaign.

Maybe it means driving for dollars.

Maybe it means setting up automatic alerts with your agent for new listings so you can be the first one to get new deals.

Maybe it means looking for deals that need some sweat equity.

However you choose to do it, do it with all your might. Finding deals IS possible. In fact, I’m buying more deals this year than I ever have before despite the tough market. Because I’m willing to hustle when everyone else is waiting for a deal to fall in their lap.

Wake up, newbie. It’s not going to happen.

You have to make it happen.

Interested in Finding out More? Reach out below

Shawn Ireland

Phone: 913-225-6231

Email: Ireland_Investments@yahoo.com

Address: 1415 Main St. #823, Grandview, MO 64030

Website: www.irelandinvestmentsllc.com/

Facebook: @IrelandInvestmentsLLC/

Instagram: @irelandinvestmentsllc

Twitter: @IrelandLlc

Ireland Investments llc

This information is intended only for the use of the intended recipient(s) and it may be privileged and confidential. Please note that any views or opinions presented in this post are solely those of the author and do not necessarily represent those of the company. This is reposted information and is not original thought of Ireland Investments or anyone associated with the business.

Popular areas we service;

Kansas city Missouri, Overland Park Kansas, Kansas city Kansas, Olathe Kansas, Independence Missouri, Shawnee Kansas, Blue Springs Missouri, Lenexa Kansas, Leavenworth, Kansas, Leawood Kansas, Liberty Missouri, Raytown Missouri, Gladstone Missouri, Grandview Missouri, Belton Missouri, Prairie Village Kansas, Gardner Kansas, Raymore Missouri, Grain Valley Missouri, Ottawa, Kansas, Lansing Kansas, Excelsior Springs Missouri, Merriam Kansas, Harrisonville Missouri, Cameron Missouri, Mission Kansas, Kearney Missouri, Smithville Missouri, Pleasant Hill Missouri, Oak Grove Missouri, Bonner Springs Kansas, Roeland Park Kansas, Parkville Missouri, De Soto Kansas, Richmond Missouri, Greenwood Missouri, Paola Kansas, Basehor Kansas, Tonganoxie Kansas, Odessa Missouri, Peculiar Missouri, Platte City, Missouri, Higginsville Missouri, Lexington Missouri, Edwardsville Kansas, North Kansas City Missouri, Osawatomie Kansas, Louisburg Kansas, Fairway Kansas, Mission Hills Kansas, Sugar Creek Missouri, Riverside Missouri, Buckner Missouri, Pleasant Valley Missouri, Lawson Missouri, Plattsburg Missouri, Lake Lotawana Missouri, Weatherby Lake Missouri, Wellsville Kansas, Edgerton Kansas, Westwood Kansas, Garden City Missouri, Gower Missouri, Claycomo Missouri, Lone Jack Missouri, Drexel Missouri, Lake Tapawingo Missouri, Glenaire Missouri, Dearborn Missouri, Avondale Missouri, Osborn Missouri, Sibley Missouri, Oaks Missouri, Unity Village Missouri, Levasy Missouri, Randolf Missouri, River Bend Missouri, Jackson County Missouri, Johnson County Kansas, Clay County Missouri, Wyandotte County Kansas, Cass County Missouri, Platte County Missouri, Leavenworth County Kansas, Miami county Kansas, Lafayette County Missouri, Ray County Missouri, Clinton County Missouri, Bates County Missouri, Linn County Kansas, Caldwell County Missouri, Crossroads Real estate, 18th and vine Real estate, Hospital Hill real estate, library district real estate, longfellow real estate, dutch hill real estate, quality hill real estate, river market real estate union hill real estate, Greater downtown KCMO real estate, East Side KCMO real estate, Midtown KCMO real estate, Westport Real estate, Hyde Park real estate, Northeast KCMO real estate, Northland real estate, Plaza Real estate, South Kansas City Real estate, Fairway Kansas real estate, Kansas city Kansas real estate, lake quivira Kansas real estate, Lenexa Kansas real estate, Mission hills Kansas real estate, overland park Kansas real estate, prairie village Kansas real estate, Shawnee Kansas real estate, weatherby lake Missouri real estate, westwood Kansas real estate

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Website Built with WordPress.com.

Up ↑

%d bloggers like this: