Know Your Local Market Before You Jump Into Real Estate Investing, with Barbara Grassey, Episode 21
How well do you know your local market?
Barbara Grassey says that smart real estate investors take the time required to learn their local market well. Why? Because knowing the market in your local area enables you to recognize when you’re looking at a great deal and when it’s not so great.
This episode of Target Market Insights features John’s conversation with Barbara Grassey, a real estate investor and expert in the West Florida area markets around Sarasota and Fort Myers. Her family history, writing career focused on real estate topics, and her own experience as founder and member of the West Florida RIA group has given her unique insight into her area and the overall knowledge of what it takes to be successful at real estate investing.
Key Market Insights
[1:15] Barbara Grassey’s specialty: real estate writing and how she got into the business
[8:00] How Barbara got into real estate investing and founded West Florida REA
[15:13] Learn about your local market rather than depend on generic advice
[20:01] How Barbara got into writing and helping others create books
[24:56] Tips for writing a training manual or book on a real estate topic
[29:34] One tip for winning in your local market: consistency
[32:11] Barbara’s daily habits to stay focused on her goals
[39:53] Barbara’s final word of advice: Learn your market first
How can you expect to be successful investing in real estate locally if you don’t know your local market?
It’s great to know the overall principles and processes that make for smart real estate investing. But they don’t apply across the board in every market simply because each market has its own unique traits. When John asked his guest, Barbara Grassey what she advises new real estate operators and investors she didn’t hesitate: Take the time to learn your local market.
Locally-based knowledge will serve you in ways that go beyond what a general knowledge about real estate investing is able to do. If you’ll take the time to listen to this episode you’ll learn how Barbara’s advice can be applied and the powerful difference it can make.
CLICKABLE TWEET: You can’t expect to be #successful when you invest in a #RealEstate market you don’t know well. Get your feet on the ground to improve your chances of #REI #success @BarbBookBoss #RealEstateInvesting
Local real estate investors need ways to position themselves as experts in the market. Here is a great idea from a professional
Part of the amazing skill set Barbara Grassey brings to this conversation with John is years of experience ghostwriting training manuals and other resources for the real estate market. She still helps REI professionals create great resources to inform and educate students and investors alike.
One of her favorite tactics when it comes to the creation of tools that position her clients as experts in their markets is what she calls “Mini-books.” She came up with the idea because of the resistance she often feels from those who are considering a full-length book as an authority-builder. It is a long and hard process, so given the ease of digital publishing, why not make a shorter book that's more to the point and easier to produce? It’s proved to be a powerful tool that anyone can create. Learn more from Barbara’s extensive experience as an author, real estate investor, and RIA leader, on this episode of Target Market Insights.
CLICKABLE TWEET: If you don’t have access to the #MLS, hit your local #RealEstate meetings and ask questions. It’s the easiest way to educate yourself about your #LocalMarket @BarbBookBoss #RealEstateInvesting
Resources & People Mentioned
The Best Real Estate Investing Advice Ever Podcast
BOOK: The E-Myth Revisited by Michael Gerber
BOOK: The 12 Week Year by Brian P. Moran
Meet Edgar for Social Media
CLICKABLE TWEET: If you’re writing #RealEstate training or marketing materials, the first thing to do is to identify your target reader. That way you know what to write and how to write it. @BarbBookBoss #RealEstateInvesting
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