Episode 25 - How and Why to Choose a Niche
Do you believe that the riches are in the niches? “Figure out your niche and maximize it,” says NBA player P.J. Tucker. So how do you find your niche? There are several ways to do it. In this episode, Sam and Lucas discuss the importance of niching down. They also talk about the three main niches in real estate and which niche might be right for you.
Without clarity of focus, it will be hard for you to succeed. Billionaire Jeff Hoffman said, “Doing three things is not 3x harder than doing one thing. Doing three things is a million times harder than doing one because you're just spread out, and you can't put the right effort into what you're doing.”
“I think it makes sense that if you focus on something, you will be better at it than trying to do several things.”- Sam Primm
“The more specific you get, the more they'll remember about you. And even if they don't bring you the exact thing that fits your buy box, it'll be close.”- Lucas Walls
WHAT’s IN THIS EPISODE?
- How do you find your niche?
- The three main niches in real estate, who they are for, and how they work
- Buy Box niche, where you specify the criteria for the property you want, like property type, geographic area, flip or rental, price range, etc.
- Why is it advantageous to focus on a specific niche?
- Random Thought of the Day: Memories… dinosaur sounds…
Meet the Founder of FasterFreedom
I founded FasterFreedom to teach people just like me to take ownership of their freedom. There is a reason why real estate creates 90% of millionaires in this country.
It's an incredible vehicle for leverage, cash flow, appreciation and the sheer practicality of it… Everyone (and I mean everyone) has the opportunity to benefit from Real Estate.
Real Estate can be overwhelming at times which is part of the reason why we don’t see more people taking advantage of the incredible wealth creating opportunities it provides.
I launched FasterFreedom to do just that… we provide the foundation and grooved path for individuals wanting to achieve freedom and financial independence through Real Estate Investing.
I pride myself in practicing what I preach, meaning all of my lessons and tips are constantly updated and based on the real investing that I do right now- so you only learn what works and not through theory or outdated practices!
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