What is your Investor Identity?

What is your investor identity? If you don’t identify this, you’re going to make a mistake. Here’s an example. Do you want to build income or net worth? If your answer is income…is that income today or in the future? If your answer is today…are you concerned about mitigating tax liability? In other words, if the income is taxable today, would you be ok with that? So if the answer is taxable….then if I say “aggressive” or “risky”…what picture do you have in your mind? ...If it’s real estate…let’s say which do you picture as more risky…vacant or occupied? If your answer is “vacant”…then what are the last 5 transactions that you made? If you say, “residential”, where were they? Let’s say that they are in Florida…would you be willing to have them elsewhere? What have been your returns? What’s the lowest return you’ve been willing to accept so far based upon your previous deals? Let’s say 12%. Would that be cash-on-cash or total return on the entire investment? Most people speak or understand only “cash-on-cash”. If you started today, how long would you be willing to wait for your first check? Would you be willing to wait 1 year? Now, what would be better for you….to get 100% of your money/return at year one or to receive checks? Let’s say you said “checks”. Now in the past, have you preferred higher end or lower end properties? Let’s say you say “B” properties. Did you find most of these programs yourself? How? MLS? Door knocking? If you had access to a team to help you, would you consider it (perhaps the most important question) ? Do you understand what I’m doing? I keep asking questions. Most people shoot from the hip.