Starting an investment career can feel like you’re setting out on an unfamiliar road. But what if you had a roadmap from someone with real experience in your area? Enter Reilly Brennan, the host of the Brennan Buzz podcast. Reilly’s an investor and business owner who has made his mark right here in Minnesota. From managing hotels to shaping real estate deals and even exploring the fast-food industry, he’s seen it all.
If you’re in Minnesota and dreaming of kickstarting your own investment career, these 10 steps—straight from Reilly’s playbook—will help you get started.
1. Get Your Finances in Order
Before you jump into any investment ventures, make sure your personal finances are organized. Reilly’s mantra, “Know your numbers,” applies here. Whether you’re eyeing properties in Minnetonka or small businesses in St. Paul, having a solid financial foundation is non-negotiable. Pay down high-interest debts, create a budget, and start saving for your future investments. Tools like YNAB or Mint can help simplify this process.
2. Pick a Focus and Stick to It
The investment world offers endless opportunities—from real estate to stocks and beyond. Reilly’s advice? Choose one area and master it before moving on. Are you interested in Minneapolis real estate? Maybe you’re more drawn to tech-based startups in Rochester. Whatever your niche, commit to it, learn everything you can, and only then consider broadening your horizons.
3. Network, Network, Network
Minnesota has a vibrant business community, and tapping into it can be a game-changer. Reilly credits much of his success to building strong connections. Whether you’re grabbing coffee with other investors in Uptown or attending industry events in Duluth, networking is invaluable. Talk to real estate agents, seasoned investors, and local business owners. Remember, these relationships could unlock opportunities and mentorships throughout your career.
4. Get Comfortable with Risk (Smartly)
Investing always involves some degree of risk. Reilly’s advice to beginners in Minnesota is simple—educate yourself to minimize unnecessary risks. For instance, if you’re considering investing in a local property, research the neighborhood trends, zoning laws, and future development plans. Never take a blind leap; instead, make calculated moves based on data.
5. Think Long-Term
Investment is not about quick wins; it’s a long game. Reilly has built wealth through time, persistence, and patience. For example, those investing in Minnesota’s booming rental market might wait months or even years to start seeing strong ROI. Focus on incremental growth rather than instant gratification—it’s this mindset that sets seasoned investors apart.
6. Never Stop Learning
Even with years of experience, Reilly continues to invest in his own education. Minnesota has a wealth of resources, like local industry meetups, online seminars, and even state-specific real estate courses. Listen to podcasts like Brennan Buzz, read specialized books, and take advantage of workshops to stay sharp.
7. Understand the Minnesota Market
Minnesota offers unique advantages for investors, from thriving urban hubs to opportunities in more rural areas. Reilly recommends keeping tabs on local trends—what’s growing, what’s slowing down, and where the opportunities lie. For instance:
- Minneapolis and St. Paul are hotspots for rental property investments.
- Rochester’s growing healthcare industry is fostering new business opportunities.
- Smaller towns like Mankato might present affordable entry points for first-time investors.
By paying attention to Minnesota-specific dynamics, you’ll gain a competitive edge.
8. Set Clear, Achievable Goals
Dreaming of owning an apartment complex on Lake Minnetonka? Great! But start small. Reilly always emphasizes setting incremental goals. Maybe your first objective is acquiring a duplex in Northeast Minneapolis within six months. Small, attainable milestones will help you stay focused and motivated as you progress.
9. Surround Yourself with Experts
No one succeeds alone—Reilly has built a trusted team to help guide important decisions. Start by assembling your own team of professionals, such as a financial advisor, real estate attorney, or experienced property manager. Minnesota-based forums and investor meetups can also connect you with top-tier local talent, ensuring you have support every step of the way.
10. Take Action (Even Imperfectly)
Here’s your biggest piece of advice from Reilly—don’t wait for the perfect moment. Whether it’s adding a property in the North Loop to your portfolio or pursuing your first entrepreneurial venture in Edina, every step forward gets you closer to your goals. Mistakes are inevitable, but they’re also some of the best learning opportunities.
Ready to Jumpstart Your Journey?
These 10 steps are just the beginning of an exciting road ahead. To dig even deeper, tune into Brennan Buzz, where Reilly shares first hand stories, expert tips, and actionable insights to help you thrive as an investor.
And here’s more good news! We’re connecting Minnesota investors through exclusive meetups held statewide. Sign up for our newsletter to stay in the loop and receive invites to events near you.
