Traits Of A Successful Real Estate Investor?

A list of what I think has contributed to my success:

1. I am not interested in making, but rather in making good investements.

2. I am always open minded to both new ideas as well as old ones.

3. Finance loans are simply vehicles that help make good investments better. I always get the cheapest money possible.

4. I am always more concerned with the quality of my tenant than with how much rent I can get. I never want to provide them with reasons for looking to move.

5. I always want tenants to know that I am hands on and very responsive to their requests. They can always reach me on my cell, but respect my time. I always get them a quick solution which may include saying no on occasion.

6. I am usually a long-term investor, until a particular purchase becomes an excellent sale or exchange candidtate.

7. I say no more than I say yes when looking at investment opportunities.

8. I always use my gut instinct, never going against it, and then bounce ideas off my wife. One of my very best real estate investments ever was one that I was sure she wouldn't like. I was wrong. She did.

9. I have no feelings going in or going out. In fact, emotions play no part in my dealings.

10. I don't do "no money down deals" and I don't borrow from one property, especially my home, to buy more.

11. I always listen to what the realtor/seller says while saying nothing myself. I do my talking in writing.

12. I know my market(s) intimately.

13. I assume that I will gain 75% of all concessions while giving up no more that 25% while negotiating a contract.

14. I manage my own properties and invest near where I live.

<< My Home | TheMoneyBlogs Home

• California Real Estate Licenses Decline. Again
• 6 Reasons Homes Don’t Sell
• How Different Investments Did This Past Week
• Pre-market Open News & Links For Friday
• Canslim.net Morning Comment And Links (for Traders)

• September 2008
• August 2008
• July 2008
• June 2008
• May 2008
• April 2008
• March 2008
• February 2008
• January 2008
• December 2007
• November 2007
• October 2007
• September 2007
• August 2007
• July 2007
• June 2007
• May 2007
• April 2007
• March 2007
• February 2007
• January 2007
• December 2006
• November 2006
• October 2006
• September 2006
• August 2006
• July 2006

• Millionaire Now!
• The 7 Steps to Millionaire Now!
• Build Your Financial Plan
• RETIRE RICH: Survival Guide
• ASSET ALLOCATION MODEL
• THE BIG ROLLOVER IS HERE
• THE END OF THE GRAND SUPERCYCLE?

• Morpheus Trading
• Marin Real Estate Bubble
• Wishing Wealth
• Don't Mess With Taxes
• Poor and Stupid

• This Is Willie Brown?
• Obama Admits It!
• Happy Grandparents Day!
• Sunday Race Break: F1 Is Fun!
• Gmi: 0; Gmi-r: 0; Gmi Performance Since April
• Today Is Your Day