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Real Estate Investor Success Traits

Success in Real Estate requires a specific personality, curiosity,  and perseverance.

Whether you are thinking about investing in real estate or whether you have a dozen transactions under your belt, you should always know why you are involved and what it takes to be successful.

  • Eye for value -- The investment market is crowded. Most good opportunities are properties with undiscovered potential. Whether the solution is a refurbishment, a change in zoning, expansion, you must see the value in the property that others have missed.
  • Good Credit  -- You don't need to start out wealthy. Many successful investors have started with literally nothing, but it is helpful to have some credit and to work to make your credit history, bank and income statements look as strong and clean as possible. See our real estate alternative financing page.
  • Creativity -- Real estate investing is about problem solving. You need to creatively apply your knowledge of the market, zoning, the property and people to make your properties more than what the next investor can imagine.
  • Time -- Time is the investors friend in an up market, and time has erased the losses of every historical down market. Real Estate investments are not as liquid as stocks or even bank notes. So you should know your time horizon and incorporate your other financial goals into your investing strategy. If you have kids about to go into college, you should definitely make an accounting of your cash needs before investing in real estate?
  • Understand the math -- Leverage, property taxes, net present value, variable rates, balloon interest, escrow accounts. In dealing with the large sums involved in real estate, even an eighth of a percent can amount to a great deal of money. Take the time to understand all the aspects of your transaction and holding your investments. There are number of books written for the lay person which cover real estate investing math and forecasting. Call Garth for a list of recommendations.
  • An Expert Team - Successful real estate investors know that no one is an expert in everything. They rely on teams of trusted professionals for every deal. Meet the Garth Schultheis team of expert real estate professionals. Then make an appointment to see how we can help on your next deal.

or more information on choosing the right agent be sure to visit our page on Choosing the Right Buyer’s Agent. Also be sure to visit Real Estate Investing Strategy.

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