Keys to Successful Real Estate Investing: Define Your Strategy
There are many profitable strategies in real estate. Most new investors get into real estate investing after hearing about one specific strategy. They have a friend or family member that has participated in real estate, they saw an Instagram or Facebook post a TV show or infomercial or they went to a conference and heard a charismatic speaker that made them want to pursue a specific investing strategy. They begin to invest using that strategy because they are drawn to the certainty and proven success of the individual that is in front of them. After the new investor has any success with one strategy they often develop the idea that other strategies are less profitable, more difficult to execute, and generally inferior to the one they are using. Suddenly they develop a certainty that their particular strategy is the supreme strategy so there is no earthly reason to even consider anything else.
Following one particular strategy as a beginning investor can be extremely valuable for the overwhelmed new investor since it allows him to really, really learn how a particular technique works. The downside of being so narrowly focused is that it limits the new investor's opportunities. If you believe that your investing strategy is the only strategy worth pursing, to the exclusion of all others, you will have a narrow viewpoint of what a "good" deal is, and pass up a lot of opportunities to profit with another strategy.
Don’t get so stuck in a mindset that you can’t even see good deals if they are out of your comfort zone. That being said. You can’t try to participate in a dozen strategies at once…wait for KEY NUMBER 4 - PLAN
Journalist, Podcast Producer, Writer
2 个月Step 1: Don’t invest in Wadi Degla properties