Real estate investing has proven to be one of the most reliable and time-tested ways to grow wealth. Similarly dancing has been around for ages. Dancing and real estate are not that different in fact. At the base, they are very much alike. In this article we discuss 3 ways that real estate investing and dancing are similar.
Anyone can do it
You’ve probably heard it before or said it yourself: “I have two left feet,” “I can’t dance,” “no really I can’t dance.” So you may not have come from a family of dancers, been born with the genetic traits for great rhythm or took professional lessons to learn the perfect form but the reality is dancing is a physical expression of an internal feeling created when you hear a song. Anyone can do it.
When it comes to real estate many people think the same that they need to come from a wealthy family or have a PhD to invest in real estate. The truth is in today’s market the barriers of entry are low and knowledge is freely available. With REITS, ETFs, crowdfunding real estate sites and strategies such as wholesaling there are many strategies that allow you to invest in real estate with either low or no money down. Numerous books and online resources such as articles and videos are at your fingertips. You can get overwhelmed with educational resources from a quick google search. Now more than ever, real estate is not an investment asset class reserved specifically for a select group in society to invest in; anyone can do it.
There are learnable and repeatable steps
“1 – 2 – 3 – 4 , 1 – 2 – 3 – 4” dances are often broken down to a count of 4 or 8 steps that are learnable and then repeatable in line with music. After you have learned these basics and become more comfortable you are able to add your own styling and make the movements your own. At the end of the day however, those basics provide the guide for you to fall back on.
Real estate investing is a process that involves repeatable patterns used to build cash flow and grow wealth. The process and steps have worked so well that people have been using the same steps to grow wealth for generations. Within real estate itself there are numerous investment classes and investing strategies. Once you pick your niche, you simply need to follow the steps of those that have been doing the same thing for years before you. If you are not sure about your moves or still working on your basic steps, you can do just like a dancer and get a coach/mentor. They will help you learn the steps of this pattern and once you are comfortable you can start to add your own style to it.
You can do more with a partner
Stop me if I am wrong here: dancing is fun, dancing with a partner is even more fun. Social dancing is a great way to pass time with old and new friends and when you dance in a group you gain the comradery that comes from a shared experience. Even better when you have a dance partner there is a whole new world of steps and dance combinations that opens up to you. You are now able to do moves that you were never able to do before by yourself and also learn from your partner as well.
We can do a whole mini-series on the benefits of partnerships, but we will save that for another article. Via vehicles such as real estate syndications investors have the opportunity to be a part of transactions far greater than what they would have been able to do by themselves. Investing in syndications usually provides opportunities for people to invest passively and also invest in larger products that offer economies of scale, professional management, mitigation of risks and a list of other benefits. If capital or knowledge is an issue partnering with someone else who has the skills you are weak in will take you to the next level in your investing journey.