Successful investors are not university graduates with doctorates, but also men and women of all races and lifestyles, people who were born into poverty and people who have been abundant, people started investing at age 19 and people who begin to invest at the age of 70, people who participate in this activity part-time and full-time.
There are some characteristics that all successful investors have in common, which are the following:
1. Successful investors have a plan and working
It's as easy as taking a pen and paper and figuring out how to be financially independent in two, five, or ten years. Another thing is to get up every morning and do whatever it takes to achieve that goal. Somehow, real life is always projected into the long term. Successful investors struggle with their tendency to "see the big picture" and not only create a target list, but plan their daily approach to achieve those goals.
Choose a mentor who is knowledgeable, motivated, accessible, and meets high ethical and business standards. Don't abuse your mentor's trust by constantly asking for information you can get by reading. And don't forget to thank your mentor by inviting you to lunch, bringing gift vouchers from your favorite restaurant, and of course reporting interesting opportunities for her when you meet them. Where can you find mentors? Look in the non-profit associations of real estate investment associations or owners. There will be many people to share with.
2. Successful investors only keep the best
Most real estate investors sell their properties ineffectively. They kept a property year after year despite losing money, which did not meet the owner's goals. Successful investors review their portfolios at least once a year and dispose of all the properties that involve losses that can cause damage to their public services.
3. Successful investors protect their assets
What would a great portfolio in real estate be if a single app can undo all the accomplishments? Why bother achieving financial independence if you achieve everything that could end up in the hands of the state? Why are the average real estate investors doing absolutely nothing to lower their biggest annual cost - taxes? Organizing everything to protect assets against debtors, claims and taxes is very tedious, complicated and time consuming. However, successful real estate investors investors take the time to do so, ensuring that hard-earned money stays in their hands.
4. Successful investors have a code of ethics
We tend to think of our investment activities in terms of bricks and money. The real estate business is about people. Without sellers, tenants, contractors, real estate agents, etc., there would be no real estate business. And because your business activities affect so many other people, it's important to decide how to treat people who come in contact with you every day.
Because there is no formal code of ethics for real estate investors, it is up to us to decide how to behave towards our clients, tenants, vendors, employees, etc. Take time to think about your activities and how they affect the people you come in contact with.
5. The successful investor involves his family
A truly successful investor is one who has the support of loved ones. This is so, because their real estate activities generally involve spending thousands of dollars on a single operation, and it will take time for your business for your family to be reserved.
It is important to sit down and talk to each member of your family who is old enough to eat alone and explain what you are doing and why it is important that you have their help. If you have a partner who is reluctant to allow you to take a second mortgage to invest in the home you both want, submit it to take an investment course. Some of your loved ones' fears are very natural, but will dissipate when they understand what you are doing.
No comments:
Post a Comment