Welcome back,
It is the goal of this author to have you gain complete clarity with regards to safely, quickly, and methodically moving forward with regards to your real estate investing and cash-flow business. It is with this in mind that we will uncover the 4 stages of learning below. If you are hear to learn and grow then I encourage you to watch below as we outline how you will learn this real estate investing business.
No matter how long you have been investing in real estate you will fall somewhere on this outline. In fact while changing specialties or investing in other forms of real estate that you are not normally accustomed to you will find yourself repeating these levels to learn and grow within new real estate niches.
Level 1: Unconsciously incompetent:
During this level a person is just arriving and discovering the skill, job, or real estate niche they wish to learn about. It can be easy to be cocky or over confident in making assumptions during this stage because “you truly don’t know what you don’t know”. You will have a general concept of the skill you are wishing to learn but you will have no idea how it is to be accomplished.
During this stage it is so important to be around people you admire and want to be like. Real estate investing clubs, online websites like this one, and other real estate investment books are all great sources for you to begin understanding what questions you should be asking. Once you begin to see the depth of your incompetence in your desired field you will then start to move to the next stage.
Level 2: Consciously incompetent:
Once you know more and more of the questions to ask then you are becoming more consciously aware of how little you know. During this stage I have found an excitement to learn as much as I can as fast as I can. When you love something and see the possibility of your achievement you should have a fire burning inside you and a true thirst for knowledge. This stage of incompetence is a big learning and growing stage. Once you complete this stage you should have a small number of deals under your investing belt. You will not be the same person once you are leaving this stage to when you first arrived.
Level 3: Consciously competent:
After your first few deals you are starting to find your rhythm. Occasionally you may hear yourself speaking with sellers or buyers and surprising yourself with how or where you learned these sentences. During this stage you are able to successfully find, negotiate, and close deals however you will often times need to have a checklist handy to ensure you do not miss anything. While consciously competent in your skill or real estate niche remember there is still much to learn. Continue seeking out education and understanding of any questions or thoughts you do not understand.
Level 4: Unconsciously competent:
You have reached the final level of understanding in a particular skill or field. There can still be rough areas to polish to help systematize and/or streamline your success however you have seen most situations and have practices your skill for approximately 10,000 plus hours.
Confucius is quoted to say, “Real knowledge is to know the extent of one’s own ignorance”. So many times I help others that believe themselves to know more than they truly do. In my experience an attitude of humility is always better than one of expertise.
In conclusion life is not a race to the top of any one niche but a constant and ever growing understanding of real estate and all things educational. We should always be striving to live, grow, and learn more.
Love what you do daily,
John Fedro
support@mobilehomeinvesting.net
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8 Comments
Lark Hendry
April 15, 2014Hi John,
This is a great reminder that everything begins with a first step. I am now in my second year of learning to invest and still have not yet pulled the trigger. I go to REI meeting and look for deals but have not yet been able to find the right investment for me. Any advice that could help. I have been looking at your trianing and thinking that may be the way to go. But I am leery to take the next step and at this point I don’t know which way I am going.
Any feedback would be greatly appreciated.
Lark
John Fedro
April 15, 2014Hi Lark,
Thanks for commenting and for your kind words. Real estate investing can seem like a big looming monster when you have not yet completed your first few deals. In reality it is very logical and makes perfect sense when you have a clear grasp on your local market, your game plan, and your required action steps moving forward. With all that said I am so glad to read in your words that you are not giving up. Although you are confused and a little frustrated you are still in the game and far from quitting. My advice to you is to find a local mentor or someone like myself that will spend time with you daily pushing/guiding you through your first few deals. From this point you can then make a decision on how you would like to proceed forward with some higher clarity. Motivated sellers that are confused and need help are around you locally right now, get the education or take the needed action to reach those folks and help them accordingly. The answer you seek is not in just contained in 1 email or call, it is in the constant clarity and guidance from an experienced mentor or coach. I hope this helps you and has made sense. If not please don’t hesitate to comment below.
All the best,
John Fedro
Lark Hendry
April 15, 2014Hi John,
Yes, that does make sense. I have not lost the will to fight and will continue pushing forward. Thank you for your words of wisdom and experience. I know now that you truely care about others and I am going to look at starting with your mentorship so I can finally start taking the leaps of faiths and action I am capable of. doing.
Love and grace,
lark
John Fedro
April 15, 2014Happy to help Lark.
Any further questions you have I’m here for you either way.
Talk soon,
John
Matt
April 18, 2014John –
Good stuff. I found this video last week on your website. Listened to it a few times and made notes. Thanks for the narrative. We have a small mobile home investors group in Pierce County, WA that meets monthly. I have shared your website with them. I am going to send them the link to this post. It is very important for investors (or anyone) to understand the process of learning. You have done an excellent job of putting it into words for all to understand.
Again Thanks.
Matt
John Fedro
April 18, 2014Hi Matt,
Thank you for the kind words and forwarding along the link. I am so glad that this content can be helpful to so many others. Keep up the good work up there. Let me know if there is anything else I can do for you or the group.
All the best,
John Fedro
Geoff Van Dusen
July 20, 2014Another very informative video, I also like the text that you have along with the video.
John Fedro
July 23, 2014Hi Geoff,
Glad you have found some value in this article and video. Very happy to help.
Talk soon,
John Fedro
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