There is something really cool about real estate investing: how many routes you can go and succeed. I think something so many new folks don’t understand as they get into the industry is how many variations of real estate investments there are. Even if someone does understand how many options are out there, they often don’t realize how to capitalize on having those options.
Strengths vs. Weaknesses
We all have strengths and we all have weaknesses.
Growing up we were taught that we need to build on our weaknesses. I’ve come to the realization however that building on your weaknesses is not the way to become an over-the-top rockstar. Why? You can only increase a weakness so far. It will be a great learning experience to explore things you aren’t as good at, and it never hurts to get some experience in whatever that skill may be, but you will only get so good at it. Whereas if you focus on improving your strengths, the sky is the limit for how good you get with those strengths!
The point of this article is not to argue whether you should build on your strengths or weaknesses, or even to discuss in detail any logic behind any of it, but I give you that little blurb to get you thinking about your strengths and weaknesses. Think of what your strengths and weaknesses are, in general not in real estate. Go ahead and do that now.
Using Your Strengths as an Investor
As I mentioned, there are so many routes you can go as a real estate investor. To name a few, and this list is far from inclusive: landlording/rental properties, flipping (flip to hold or flip to sell), wholesaling (even though this isn’t technically an investing route), tax liens, notes, residential, commercial, real estate investment …read more