What makes a real estate investor successful?
In a world of hectic markets, ever-changing interest rates and social factors influencing certain regions more than others - it can be a very confusing world for unseasoned real estate investors. So what makes a real estate investor successful and where do you start?
There are as many variables to real estate as there are to chess so the best way to win is to know what you want. When you ask most novice investors what they want - their answer is always highest return. This is where most investors hit the road block and usually end up never pulling the trigger on a property. Why? Because netting the highest return comes in a variety of packages and sometimes those options can be overwhelming. For example, if your goal is to have rental property income then the next question would be: do you want short term rentals such as Airbnb or do you want long term leases? Both of these options have corresponding pros and cons and also laws that you, as an investor, must consider before even looking at properties.
Highest returns come in the form of smart investments so you need a real estate professional who can talk to you about your short and long term goals, the cause and effect of different avenues, creative negotiation tactics, international real estate investment options and the overall true cost of doing business.
Set yourself up for success with a Realtor who can advise and help you manage your property investment portfolio. Contact Alexis for a review of your current portfolio or to strategize on how to create your own.