Top 8 Traits Of Successful Real Estate Investors
The world of real estate investing has room for many different types of people. While the most successful real estate investors share a few traits, that doesn’t mean you can’t be a success without them. Anybody can get into real estate investing, as long as they’re willing to put time and work into their business.
Real estate investors are a special breed in the real estate world. You have to be willing to work hard and put in a lot of time. Are you meant to join the ranks of the great real estate investors? Here are a few traits that real estate investors share:
1. Dedication. Sticking with a real estate investing business, even when times are down, is a hallmark of a great real estate investor. This doesn’t mean you should hold on to bad properties that are losing money, but you shouldn’t get out of the real estate investing game entirely just because you lose money once or twice.
2. Tough when it matters. The best real estate investors aren’t pushovers. They know when to stick to their guns on a deal, and when they can afford to cave a little.
3. Ability to read people. As a real estate investor, you’ll need to be able to tell when somebody is trying to give you the runaround and stop them in their tracks. Getting a read on somebody can make the difference between getting a great deal and failing.
4. Highly verbal. Real estate investors are typically talkers – they have to be, in order to negotiate their way to big profits.
5. Willing to learn. You’ll need to be able and willing to learn if you’re getting into real estate investing. Figuring out where you could use some work will help you get better in the long run.
6. Risk takers. All real estate investments come with an element of risk. The best real estate investors recognize the risk, but act anyway. As long as you work to balance your portfolio with some more stable holdings, you should be willing to take a few risks.
7. Great at networking. Wheeling and dealing can’t be accomplished without knowing lots of people in the business. Real estate investors need to be willing to put themselves out there in order to cultivate the best deals.
8. Creative. You’ll want to think outside the box in real estate investing to come up creative options for financing, negotiations and more. A good idea can turn a bad deal into an excellent one.