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One of the most challenging questions you may face is, “How to invest in yourself as a real estate agent?” I did not only ask myself that question once, but multiple times. But I did not end there. I worked hard to find the best answers to it.
What’s the best investment you’ve ever made in life? It’s a difficult question for most people, much like real estate agents. I also had to take time to really digest it. I thought about cars, houses, etc. A car is a depreciating asset. Some would even call it a liability, depending on how you use it.
The best investment, in my opinion, is investing in yourself. I say this because I was an ordinary person with big dreams looking to make them a reality. Unfortunately, growing up, nobody ever taught me financial literacy.
Everybody around me would tell me that if you get your head on right or keep your head in those books, you can do what everybody else does.
A Definitive Guide on How to Invest in Yourself as a Real Estate Agent
The 40-40-40 Club
According to the 40-40-40 rule, you end up working for 40 hours every week for half of your lifespan for just 40% of your pay. It sounds dreadful, I know. Think about it. You start your day early, probably at 4 am, so you can beat traffic and get to work on time.
Then you’ll work for eight to nine hours, get home around 10 pm and do your chores. You’ll probably sleep at around midnight, then rinse and repeat. It doesn’t end there; you do this for another forty years. Your life practically revolves around your job; it’s stressful and draining.
It doesn’t end there. You’ll dedicate forty years of your life only to retire around 40% of your basic salary. That’s not a lot, considering you just committed a huge chunk of your time and energy to it. I didn’t want that for myself.
I have a friend named Joe Bill who was in the military while I was in college. He was stationed in Nepal, and I remember at the time, I was struggling to get my clothing line off the ground.
It was called G-Fly, and my friends and I used to call it G-5. Long story short, I wanted to get these shirts made, but I didn’t have any money, so I approached him with my game plan.
At the time, there were a lot of manufacturing companies in Nepal. So that was the foundation of my game-plan. By getting the shirts made there, we’d save on manufacturing expenses.
So Joe called one of the managers and negotiated a deal with him. He then gave me a loan with interest on top, and that’s how I got my clothing line.
I didn’t stop at clothes. I also sold shoes and worked at a grocery store; I was even a car salesperson at one point. Although I was new to car sales, I managed to make it work. I credit that success to my genuine desire to help people.
I believe I excelled at selling cars because that was the time I decided to invest in myself. The reason is I started to read books. My first book was The Millionaire Fastlane by M.J Demarco, but it was Rich Dad Poor Dad by Robert Kiyosaki that cemented the concept of self-improvement.
These books taught me the importance of one’s time. I learned that I was trading my time for money. I couldn’t sell a car if I weren’t at the dealership. I remember thinking, “How do I get out of this?” That’s when I started to invest in myself even more. I began reading more books and listening to podcasts.
I got into real estate when I moved to Omaha. Unfortunately, I was going through a big storm in my life: I’d just lost my job, my mother, and my home in three and a half weeks.
These events pushed me to become more intensive with real estate. I threw myself into work and made sure I separated myself from the competition.
I was looking to become the number 1 real estate agent in the country. My goal was to be the lord of my land. I knew what it was like to live under a landlord, to live with the fear that I could get evicted at any time.
On the other hand, I didn’t know what it was like to be an owner, to own my home or business. My takeaway from that experience, and hopefully yours too, is you need to figure out how to turn your dream into reality.
Turning Your Dream into a Reality
I believe if you have an idea or a dream in your mind, the universe will find a way to manifest it. It boils down to the 3Es.
What is your energy like?
What do you get excited about? I channeled mine into growing and refining my circle. I made it my mission to educate my friends about real estate and its benefits. I got them excited too.
You have to have a good environment. I needed to have good energy around me to succeed, friends who supported and celebrated me. I had to have people who wouldn’t discourage me or talk me out of going after my dream.
I realized that I also needed a lot of exposure. I had to continue exposing myself to new ways of life to keep me excited. You might be thinking that you don’t have the expertise or the money, but you have one crucial thing: your dream.
All it takes is to make the most significant investment, and that’s working on yourself. I’m not talking about a college degree or enrolling in a coaching program. I’m talking about investing in yourself and your mindset.
The Bottom Line
Once you make that decision, you have to commit. It’s either going to work, or it’s not. There is no plan B. Go all in. I promise you’ll get everything you’re working for. The biggest investment you can make is to invest in yourself.
Feel free to reach out to us at DreamNation if you have any questions. I believe in you, but you also have to believe in yourself. Remember, in the dream, we trust; but you have to take action.