Looking to bring your real estate education to the next level? On the fence about spending on a course or mastermind? Are you in the right position to start doing this “additional learning” in the first place? Well, you might have landed yourself in the right spot. Keep reading, and see the
answers for yourself!

These tips are from the fifth episode of the Real Estate JAM. In that episode, JD, Annabel, and Melissa talk about what masterminds are, its impact depending on where you are in your business, the value of learning, why building your network is crucial to your success, and even gets into the story of how they met each other! If you’re interested, you can listen to it on YouTube, Spotify, or Apple Podcasts.

When Should You Start Paying for Real Estate Education?
You probably already know that you don’t have to spend a dime to learn about real estate, especially with the rise of online resources. Well, of course, you’d have to pay your ISP, but that’s beside the point. So much information is available on the internet just waiting for you to consume!  The problem is, just learning and learning won’t get you anywhere unless you put them into action. And when you really think about it making that first step, you get this analysis paralysis of how you should actually get some work done. For us, that’s where you should start looking into investing in your education.

What Are Masterminds?
If you’re already considering where you should put your hard-earned money to learn more about the real estate industry, try joining a mastermind. They’re a group that offers a combination of brainstorming, education, peer accountability, and support. Other industries have them, not only in real estate. Essentially, you’re having the collective wisdom of the group available to you! As far as real estate masterminds are concerned, you’ll meet experienced investors who can give you the insights you need to address your concerns with the trade, whether they’re technical, financial, or even just emotional support!

During the podcast, Melissa shares her experience with receiving Don Costa’s constructive criticism. After taking in the feedback, she was able to turn things around and generate decent cash flow from her seven buy-and-hold properties that weren’t making money! Everybody in the group understands that it’s not personal and that each one is there to make each other better. Most of the time, hearing the harsh truth is what we need, and that’s also one of the things you can expect from joining a mastermind. When you get to a point where you’ve gone a little further from the newbie you once were, you can also make an impact on the new members! So, if you’re serious about dedicating yourself to this world of real estate, joining a mastermind may be one of the best uses of your money as an investor.

Which One Should You Go For?
Just like how there are different levels or grades in middle school, it’s pretty much the same with masterminds. Each mastermind caters to people at specific levels. When you’re new, you don’t even understand some of the terms being flown around in podcasts and articles, but as you grow, you start to look into more complex issues. The questions you ask evolve over time. Not only that, but the focus of the group you’re in may also be different from another. At one point, when JD was looking to learn more about building a business, he found that the mastermind he was involved in didn’t have members who worked with teams. He didn’t leave the group immediately, but found another group of people who could teach him what he was looking for at that time. In your case, try to figure out where you are in your real estate adventure and stick with those that could help you out the most

Want to learn more? Listen to the full episode on YouTube, Spotify, or Apple Podcasts.

Outline of the Episode:
[01:33] What are masterminds? Are they only for real estate?
[02:10] The starting point is all about finding like-minded people. Don’t be afraid to talk to people, whether in person or online.
[03:53] Aren’t all masterminds the same? Why are some more expensive than others?
[06:05] As your problems evolve throughout your business, the kind of help you need changes as well.
[12:01] Embarrassing things may happen, but at the end of the day, you and the people you meet, no matter how successful they are, are all humans.
[15:09] Meeting the veterans in the industry shouldn’t scare you off, but rather inspire you to continue in the paths they’ve taken!
[16:40] If you’re in a partnership, you don’t always have to join the same masterminds together. Learn the craft on your own terms and use that knowledge to drive growth!
[20:43] Embrace constructive criticism if you’re serious about getting where you want to be.
[23:13] Not only do you get the chance to get help from the people ahead of you, but also reach back and help those that seek the same guidance as you once did!
[23:56] Networking is crucial to your real estate career. The relationships you build are bridges that connect you (and others) to better opportunities.
[26:21] There’s no need to immediately jump into an expensive mastermind. Take your time, start where you can, learn a lot, meet new people, get to the next level, and repeat!

Resources Mentioned in the Episode:
Jordan Stanley Payne
The Kingdom Real Estate Mastermind
Multifamily Mafia
Flip Hacking Live
Don Costa
Inner Circle Elite
Chris Rood Real Estate

Connect with JD, Annabel, and Melissa!
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Shorefront Investments
Email: jd@shorefront-investments.com or info@shorefront-investments.com