Are You Going to Be a Good Investor?

Published On: September 10th, 2019Last Updated: September 4th, 2019Categories: Hard Money

If you’re thinking about becoming a real estate investor, there are a few questions you need to ask yourself before you dive in with both feet. That way, you’ll know if you’ll be a good investor.

Ask yourself:

Am I willing to take risks?
Can I evaluate my options and make decisions quickly?
How well do I operate under pressure?
Do I tend to learn from my mistakes?

Here’s a closer look at each of these.

#1. Am I willing to take risks?

Real estate involves a certain amount of risk. Sometimes markets take a downturn, neighborhoods go south, and buyers run out of money. You don’t want to be saddled with an investment, but you have to know that it could happen – and you must be ready to accept that risk.

#2. Can I evaluate my options and make decisions quickly?

When you find a great deal on a house, you have to be willing to pounce on it before someone else does. There isn’t a lot of time for tire-kicking in this industry! You do have to do your research and make informed decisions, so you must be able to do so quickly.

#3. How well do I operate under pressure?

If you don’t make knee-jerk decisions under pressure, that’s good – you can’t afford to do that when you’re a real estate investor. (At least, you can’t if you want to be a successful real estate investor.)

#4. Do I tend to learn from my mistakes?

As a real estate investor, mistakes are inevitable. You have to be willing to learn from yours – and other people’s – if you want to be successful in real estate. That’s especially true when it comes to flipping houses and developing rental properties.

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