In this episode, I tackle the subject of having the tools (knowledge) versus actually knowing how to apply that knowledge to your real estate investing business. This is going to be a frank discussion about studying vs. applying knowledge. As always, I hope that I don’t offend anyone, but this is a topic worth discussing!
There are a lot of ways to acquire knowledge about real estate investing; the internet has opened up the floodgates in that regard. A few of the ways you can acquire information and learn about real estate investing are:
- YouTube channels
- Masterminds (both in person and virtual)
I’m sure there are more ways than those, but you get the picture. There is no shortage of information about real estate out there.
Here is problem–there might be too many sources of information. Many would-be investors spend months or even years (I was guilty of this early in my real estate career) looking, reading, thinking, deciding.
I was acquiring tools, but I wasn’t building anything. I was basically a tool collector! I had a lot of information in my head about real estate investing, but no experience actually doing anything. A lot of people spend tons of time studying real estate, but very few take action. Even fewer take MASSIVE ACTION. This lack of action is usually fear. Fear of failure, maybe fear of success. I’m not sure. But it is important to understand the difference between acquiring knowledge (collecting tools) and actually applying that knowledge (becoming a carpenter).
Don’t be a tool collector–be a carpenter!