What is your personal real estate investing style?
In order to answer this question, it is important to take a look at the attributes that affect your investing style – and ultimately your investment strategies. Every investor is different, and by realizing that who we are as individuals affects our investment style, we will become better and stronger investors with clearer goals and a more definitive plan.
There are 6 main attributes that will help you gain a better understanding of your real estate investment style. Consider the following attributes and think about how they impact your views on real estate investments:
1. Lifestyle – Do you have time to self-manage, or do you need a property manager?
2. Perspective on life – Do you want to travel, do you have a purpose to fulfill in life, etc.?
3. Personality – Are you good with people, or would you prefer not to deal with too many people?
4. Financial Goals – How much do you need to earn, how often, and by when?
5. Limitations – What are your weaknesses, and what could you do to begin strengthening those weaknesses?
6. Capabilities, unique strengths – What are your strengths, and what could you do to put those strengths to work as you begin paving the path towards your financial independence?
By understanding how these attributes will influence your personal investment style, you will be able to identify real estate investment strategies that will be the best fit for you, allowing you to embark on your real estate journey in a way that truly fits you.
You will also create a symbolic lens that will enable you to distinguish between the strategies and properties you may want to avoid — and the strategies and properties that are ideal.
