This weekend, I attended some workshops on possible ways of investing. It gave me an opportunity to observe the teaching techniques of an expert teaching a topic to room full of novices.
The following are some notes I took on the presentation about different types of investing. I’ll share my notes and then discuss some of the teaching techniques that the teachers displayed.
1. RCFE: means residential care for elderly.
Residential care facilities are the only type of building that can bypass the restrictions of a homeowner’s organization. The reason for this is because objecting could be considered discrimination against the elderly.
2. Billboards. The locations for new billboards can often start in areas where constructions are being done for a new development.
Sometimes people can rent a billboard for $2800 a month.
3. Storage facilities are also a good way to obtain passive income.
4. Tax lien or tax deeds: this is where you pay a percentage (often 2%) of the taxes owed by of a property owner or where you buy the property from someone who has defaulted on their taxes. You only need an Internet connection to access. Much of the information you seek for such an investment is available on the Internet.
Now for my observations:
Sometimes when teachers dispense knowledge they use terms of the industry, that many members of the audience will be unfamiliar with. For example, one real estate term I haven’t heard of is RCFE, which means residential care for the elderly. During the presentation, the teacher had to give a brief definition of a term with enough detail so the audience know what it meant, but then continue with dispensing the rest of the information so as not to interrupt the flow and to keep on schedule.
As a new investor, I didn’t know what tax lien or tax deed meant. Okay, I admit, I’m a very uninformed individual. The instructor had to give some definition so that I and others wouldn’t be lost in digesting the rest of the information. When a teacher defines a term they are accommodating the inexperience level of the students. Many times experts are tempted to just rattle off terms and not worry about giving an interpretation. As a result, the students can get further and further lost, and thus become disengaged from the topic.
A second observation I have made is when the teacher will give a small explanation as to the logic of why something is done. A successful teacher wants to put the student in the mindset of the person they want illustrate. That way you not just giving information, but the students began to understand the logic of action behind certain procedures. This broadens the student’s perspective.
The third observation is work case scenarios. For example, in the presentations, the teacher walks through a real case scenario of converting a property from a normal home into a residential care facility. This is useful because you then have a chance to see the principles being taught get implemented. Scenarios give the teacher chance to dispense additional information that will be important later. For example, from personal experience, one real estate investor included a sensor system that notifies the manager of a care facility of times when an elderly resident gets up in the middle of the night to go the bathroom. If someone has left their bed and has not returned 10 minutes later, that can prompt the manager to check on the safety of the resident. Combine scenarios with the logic behind the actions and the students began to more effectively relate to the topic being discussed.
Anyway, these are a couple of teaching techniques, I observed this weekend. As a person who wants to learn from effective teachers. I can appreciate these techniques.
If you have any suggestions on the successful use of terms, logic and scenarios in your teaching experience. Please feel free to share it in the comment section of this blog. Thank you.
