Last week I had the opportunity to sit down with Josh and Brandon and talk about a variety of topics related to real estate in the BP Podcast 045: Finding Your Unfair Advantage, Rural Investing, and Getting Started with Tom Sylvester.
As the title mentions, we spent some time talking about unfair advantages and how I have used them to create not 1 but 2 successful businesses. Afterwards, I received quite a few emails and private messages from people wanting to know more about how I found my unfair advantage and some tips for them to find and exploit their own unfair advantage.
What is an “Unfair Advantage”?
I define an unfair advantage is a skill, knowledge or situation that you have that most others do not. It is your competitive advantage, one of the things that makes you unique and gives you a leg up compared to others who want to do the same thing. It is often the case that people decide they want to do something, be it a new job, business or niche without first identifying what their unfair advantage is and determining how to use it to their advantage.
How I have used my “Unfair Advantage”
The unfair advantage that we discussed on the show is one that a lot of people are jealous of, which is my father actually having 30 years of experience in construction. He worked for the carpenter’s union, was a contractor on the side and built 3 of his own houses. One of the common topics that comes up in real estate is “how do I find a good contractor”? Given my father’s background, between his constructions knowledge and the fact that he knows almost of of the contractors in the rrrrrrrural town (in …read more