Step-By-Step: How To Learn Investing Strategies From Other Investors

It may come as a surprise that investors are actually very good at helping each other out. You’d think that the industry would just be full of people trying to one-up each other and there be a toxic environment but this isn’t the case. Just the other day, we saw one of our investors asking about other types of investment opportunities that they could go into to diversify his portfolio. Obviously, we specialize in real estate investing but that didn’t stop our members from helping him out by suggesting things like this review to get into Bitcoin, different apps he could use to invest in stocks, and lots of other helpful tips. And this is why it’s so good to communicate and talk with other investors.

If you are a real estate investor, connecting with other investors is a great way to fast-track your education and help you discover powerful strategies, tips, and tricks to improve how you invest. Here’s how to learn from others effectively:

1. Start by deciding what you need to know. Make a list of the specific areas of your business that you need to improve and, if possible, list specific questions you have. You’ll end up with a big list but that s okay. Consider it your curriculum to learn more about investing. If necessary, take a certificate course in money and investing to gain a deeper understanding of how to make different investment choices and the risks and returns associated with them. (And, be aware that we don’t know what we don’t know so leave room on your list for more questions that will inevitably arise).

2. Identify what you already know. Sometimes you already know part of the answer or you can find it easily with some research. Make sure you figure out what parts of the question you already know and what you don t. (That way, you ll save time by zooming in on the parts you don t know).

3. Identify who can help.When possible, identify who can help you with the answer. For example, if you are thinking about investing in a specific market, consider someone who is already in that market. For many of the questions (or if you are new to investing), you may not know anyone. That s okay. But even starting with one question and one name, you have a step forward. Many beginner investors and traders also sort their doubts from resources online like this forex blog.

4. Connect with that person. Connect with the person and ask for their help. If it s a quick question, and the situation is appropriate, you might just ask them right there. If you have several questions to ask, invite them out for coffee or even a meeting over lunch. (Hint: Offer to buy them a meal this is an investment for you! DON T expect them to pay.) You could also think of hiring a personal financial advisor who’d be willing to answer all your questions regarding various investment options.

5. Ask and listen. Ask your question and then listen to the answer. See how it fits. Think about how they re answering. If necessary, ask the same question in a different way or ask for an example to illustrate their answer. Listen closely.

6. Figure out how to apply it. When an expert gives you an answer about what works for them, appreciate that they took the time to tell you but keep your inner critic silent! Unfortunately, all too often, it s easy to hear an answer and assume that works in your situation but not in mine and then quickly dismiss the solution. Nothing hurts the teacher/student relationship faster than a student repeatedly telling a teacher why something won t work. Listen, learn, and determine to figure out how you can make it work in your situation.

7. Stretch. Some answers to your questions will be a stretch for you, perhaps requiring you to do something you haven t done yet. Try it. Stretch yourself.

8. Repeat. Once you ve done this with one question (or more) move on to the next in your list. Keep adding questions and seeking out the answers.

There is always something to learn in real estate investing and this method will help you discover the best answers.

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