What You Should Be Investing In (Besides Real Estate) (2024)

Real estate is an awesome investment. It is really essential. Still, there is something even more important for us all to invest in.

What You Should Be Investing in Alongside Real Estate

This should be a no-brainer. You should be investing in yourself. I’ve written on this subject multiple times because it has truly been a game-changer for me.

Social media influencer and multi-family real state investor Grant Cardone says the most important thing you can invest in is yourself. Invest in yourself and your mental skills and view yourself as an asset, and you’ll get the greatest returns. It will positively impact your value, your capabilities, and everything else you do.

This is the foundation of being able to work smarter rather than working harder with diminished results for the rest of your life. Abraham Lincoln once said ,“Give me six hours to chop down a tree, and I will spend the first four sharpening the axe.” What I get from that is you are the axe and the investment is in the sharpening. Chopping down the tree in its entirety is the goal. Investing in yourself will allow you to accomplish each goal that much faster. This is true whether you’re building a business or investing in real estate.

Related: 12 Reasons Why Rental Properties Are the Best Investment

So, how do you invest in yourself?

Invest in Connections

They say your net worth is equal to your network. So, one of the best things to invest in for self-improvement is your connection with others and the quality of your network. This isn’t just about getting names to throw on your email list. It isn’t just who you know, but who knows you and your ability to grow real connections. You can do this online with social media and forums to some extent—but you should also go the offline route by attending local networking events and being more sociable. I decided this year that majority of my earnings would go towards attending conferences that not only would help my mindset but that would contribute to building skills and connections. It has been truly beneficial.

Invest in Knowledge: Reading & Books

When growing up,the mindset I had was that education would end when school did. Little did I know that that mindset is why so many people achieve so little. So few people read and make it a priority to learn and acquire new skills. The average CEO reads a book a week, while common person reads fewer than four a year. I bet those books for the average person are not self improvement-related either. So, read more!Many think YouTube and podcasts are a substitute. Combine the sources to help retain the information.

Invest in Building Your Personal Brand

Invest in your personal brand, which will allow you to get more deals and clients and increase your perceived value. You might be the best in the business, but people may never know or give you the chance to find out unless you have a strong and visible personal brand.

Related: 32 Signs You Might Be a Bona Fide Real Estate Investor

Invest in Your Skills

Always be learning something or acquiring a new skill—it is even more important now with artificial intelligence coming into the picture. Learning is actually fun, especially when you look back a couple years and see your progress and realize there is so much to learn moving forward. For those interested in investing in real estate, there are so many areas you can build on that will give you an edge and make what you do easier and more profitable. That can include taking courses on capital raising, fundraising, sales, appraisals, property management, and construction.

Summary

Everyone should be investing in real estate. But even more important is committing to constantly investing in yourself. Invest in your mind, network, and personal brand. Don’t leave it to chance or your spare time. Just as you can’t wait to see if you have any change leftover at the end of the month to invest with, make it a priority to better yourself. Make it one of your goals and schedule it in advance for the year ahead.

How do you invest in yourself on a daily, weekly, and monthly basis?

Comment below!

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.