Brian Cotter
Brian Cotter has spent years teaching in public schools and founded the Brian Cotter Tutoring program. Dozens of students have experienced success from enrolling in this program. He spoke with many professionals including real estate agents about the best way to build his tutoring center. He sought advice on land cost, traffic, and more. Here is everything he learned while developing the tutoring center.
What do you know about the real estate industry?
I have studied the real estate industry from the sidelines for many years. I was always passionate about it. I do know that it’s imperative to have capital to succeed in the industry. Flipping houses is a crucial way to make money. I recommend putting back money until you’re ready to get into the industry.
Have you ever sold real estate? How did you make it happen?
I sold some real estate on the side whenever I was still teaching. It was an incredible experience that allowed me to gain more knowledge on how the industry works. I was able to make some extra money on the side that helped me pay the bills. I’m ready to take that experience to the next level now that I am ready to fully commit to real estate.
How much experience do you have in buying or selling real estate?
I have years’ worth of off-hand experience selling real estate. However, selling real estate is like running any kind of business. You have to know when to sell and know when to cut your losses. I have plenty of experience running businesses before. These experiences translate well into the real estate industry. This has given me a huge advantage over other real estate agents so far.
Have you ever made a sale or a purchase you have regretted?
While I haven’t had any negative experiences selling real estate so far, I have learned many lessons from bad ones I’ve witnessed second-hand. I had a friend of mine sell some real estate that wasn’t thoroughly inspected. The property ended up falling apart and injuring the person who bought it. There was a huge lawsuit that happened and his life was hell for a while. I told myself that I would learn from that mistake and make sure it never happened.
What advice would you give inexperienced who are wanting to buy or sell?
I recommend that all individuals who are wanting to get into real estate do so at a slow pace. Jumping the gun on a sale that you are not sure about can hurt you financially and legally. Always do your homework and make sure that you know what you’re doing. There is no shame in walking away from a bad sale that could potentially hurt you in the long run. Trust your gut before jumping into something.
What have you found out to be the best way to market property?
I have found that word of mouth is one of the most effective ways to market yourself. While social media is a powerful tool, nothing trumps the effectiveness of word of mouth. There is something genuine about it that seems more appealing to potential customers. I recommend that more people get off their computers and meet with people in person.
What tools do you believe are essential for success in the real estate industry?
I always use Google Docs to help me organize my information. There are dozens of things that you can lose track of whenever you are working in real estate. Google Docs is a free tool that can help you stay on top of everything.
What has real estate taught you about life?
The most important lesson that real estate has taught me is that you can lose even if you do everything right. Don’t take losses personally and learn as much as you can from them.
How can you use what you have learned in real estate to succeed in other areas?
I would recommend that you do your research as much as possible. If you feel the urge to speed up I recommend that you slow down. Hasty decisions always lead to disaster.
Do you have a mentor who taught you what you know?
Unfortunately, I did not have a mentor. I am a self-taught real estate expert.
