The best real estate investing techniques are actually not that hard and are very easy to remember whenever planning to make a real estate investment as a real estate investor. There are only four actions that make up a real estate investor which are buy, hold, rent, and sell. These for actions could either make or break you with either positive results or sometimes even possible losses. Here is a few of the best real estate investing techniques.
- Buy and Sell
Buying and selling is way different from just brokering a sale because your money is involved which could be either a very good or a very bad thing for you depending on the investment you chose to invest in. There are a lot of stories of how people bought land by the hectares and decided to sell them out buy a cutout of a few hundred square-meters. This is really good to do if you have the capital for it because we all know that if you buy by the bundle, you will get a cheaper price. The only hard part about this is selling the individual lots, you must be able to have a very good sales strategy to achieve this.
- Buy and Hold
Remember that story of Las Vegas? How it used to be just a strip of sand in the desert but now is one of the most expensive land there is? Well, imagine buying a plot of land in Las Vegas right next to a casino and waiting maybe thirty years before selling. Imagine the exponential increase in value. If you can learn how to calculate and predict possible appraisals in land value, buying and holding is one of the best technique for you. This technique is best if you are not in the rush to sell your real estate investment any time soon.
There are some places where it is better to buy and rent out your property rather than buy and sell. For example, imagine buying through an auction a property in a growing commercial environment where the price of property is very expensive. Now imagine renting parts of that property out, you will have an automatic and steady source of income of course unless unforeseeable events may happen. Sometimes you have to weigh the choices whether it is better to sell the property one time big time, or go for consistency and having it as an asset for a longer period of time if not forever.
Learning the perfect techniques for the perfect property is a necessity if you want to be the best real estate investor. There are certain properties good for some techniques and some properties good for other techniques and it is up to you to discern which goes well with what property. Although this may take practice, you may still be able to do this with the right mindset, training, or even just the right principles and research. Be careful in investing but because it is not just the investment but also what you do with it.
This article is not just actually about finding the best real estate investor but also about being the best real estate investor. I take it that you already know what investing is and what an investor is so I will ask you directly, what makes the BEST real estate investor? There are a lot of factors that can make you the best real estate investor but let us focus only on the traits that will help you take control of yourself. You can never really change the situation around you but what you can change is your reaction to the situation around you. External factors may be very heavy but it is not impossible to counter or fix them with the right internal reaction. Here are some traits that can help you become the best real estate investor.
- Be forty percent optimistic and sixty percent realistic
Some people are way too optimistic to do business that they end up investing in something that ends up pulling them down and affecting them in the end. Some people are also too realistic that they end up becoming cynical and not taking chance due to a little risk. The reason why you have to be forty percent optimistic and sixty percent realistic is that you need to when you are weighing your options and being realistic, you will need optimism for you to see the bigger picture. But at the same time, if you are too optimistic, even if reality is telling you that it is not a good investment, because of your optimism, you might go for it and yes there are some cases in which they end up okay but most cases do not end up with a happy ending. Be realistic but do not forget to fuel yourself with optimism to make sure you do not forget the bigger picture.
- Respect your failures and mistakes
Respecting your failures and mistakes means respecting yourself, you will never be able to fully learn from your mistakes until you say to yourself “Okay, that was a bad move. What did I do wrong?” Another thing people do is they become too hard on themselves when they commit a mistake shattering their confidence and making them even more afraid of failure. Remember what is listed in the first trait and do not forget to still be forty percent optimistic.
- Do not fake confidence
Feedback is the breakfast of champions. Some people pretend to be confident by having to push to everyone that they made the right decision and therefore not listening to anyone’s thoughts and opinions on your investment. Of course, you have to pick who you should listen to because taking in the wrong feedbacks might have a negative effect on you. Listen to the people who you think are the best real estate investors. There is no shame in thinking someone is better because we are all playing a different game but that does not mean do not learn from others.
There are so many other traits that can help you become the best real estate investor but I feel like these traits are most often taken for granted. Become the best by becoming yourself, unlock your potential and believe in yourself. My material contains a lot more lessons in detail on how to become the best real estate investor. Check them out and start becoming the best today.