Your Investment Personality
Your Investment Personality, Real Estate Investor Buying
Property Finding a Tenant, Business Traits Deal Well with People
Keeping Records Degree of Risk Repairs Maintenance
In most cases, being a Real Estate investor
is a bit more than simply buying property, finding a tenant,
and letting the cash flow in. Some people are very comfortable
with the kinds of activities that investors face almost daily.
Others find them challenging, or worse, find ways not to deal
with them. If that is the case, your business will almost
surely suffer.
Spend a few seconds and take a glance inward
to see if you have some or all of the traits that you will
find in many Real Estate investors.
- Do you deal well with people on a regular
basis?
- Are you good at keeping records?
- Does a degree of risk not concern you?
- Do you have a good amount of free time
to devote to your investment activity?
- Are you willing to do a portion (or most)
of the repairs and maintenance yourself or are you willing
and able to pay someone to have them done?
- Are you willing to take an active management
role?
- Can you juggle several tasks at the same
time?
- Would you have the guts to evict a family
of five if they didn't pay the rent?
If you cannot answer at least 5 of the above
questions in an affirmative manner, you may not have the personality
needed to be an effective investor. No matter what the late
night infomercials tell you, being a real estate investor
can be a very time (and emotion) consuming activity.
If you are looking to go from a net worth
of $0 to a net worth of $750,000 in a short amount of time,
it is probably better that you invest your money in lottery
tickets. Although there are instances where investors have
made the "big hit," and have mountains of money to show for
it, the odds are stacked against it. It is far more likely
that you will devote a good amount of time and effort, spread
over a number of years, before you begin to see the fruits
of your labor.
Real estate investment, over the long haul,
can be a very rewarding activity, but it takes work and time.
Need expert help buying, selling
or building a home for investment purposes in the Indianapolis area? Planning to
relocate to Indy? For assistance from Indianapolis' premier
Realtor, simply submit the form below, or if you
prefer, call Kristie Smith at 317-805-7360 (toll free 800-360-5733), or
send an email to Kristie.
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