How To Become A Real Estate Investor in 3 Easy Steps

If getting rich were easy, then everyone would be rich. I’m sure you’ve heard this statement before. But this is especially true in real estate. In real estate, there is a fair opportunity to get rich if you start early and commit to becoming an intelligent investor. But becoming a successful, intelligent real estate investor takes time, energy, education and consistent daily action. In this latest column from RE/MAX, we look at a few critical questions to ask yourself before embarking on a career as a real estate investor.

1. Do you have an action mindset?

I love this question because it is a question that only you can answer. As a matter of fact, you know in your heart the answer to this question without having to think about it. Sure you can try and convince yourself that you do have a bias for action, but you’re only doing yourself a disservice.
The ability to take action despite the obstacles in your way is a key determinant of your success in real estate. You may be dreaming of retiring early to travel the world while earning millions of naira passively, which is fun & exciting, but the effort required will be intense and challenging. However, if you have a bias for action and the resolve to follow, you can be rest assured that your success in the real estate business is secure.

2. Are you future-oriented and able to delay gratification?

In the early stages of investing in real estate, a lot of investors are typically seeking short-term gains of within a few years. The intelligent investor should realize that by thinking long term and being able to delay gratification, the potential return on your investment would far exceed any other investment opportunity available.

3. Do you know your opportunity cost?

Now that you’ve decided to become an intelligent real estate investor you need to determine if have you considered the opportunity cost of your investment? Ideally you should consider the cost of alternative investments for your capital and the time cost involved for each option.
While the capital opportunity cost is easy to determine, the time opportunity cost may not be so easy to determine. To be successful in real estate in the long term, you’ll need to create the time required to study the market and other aspects related to your investment and become adept at leveraging your knowledge into other deals.
In conclusion, though real estate investing success is possible for anyone that wants it. It usually requires some perseverance, dedication and self-mastery. The goal of this article is to help you start thinking about the right steps to take and inspire you to push beyond your personal limits.
So my dear friend why don’t you start today, your riches in real estate might be just around the corner. You owe it to yourself and your family to grab it and never let go.

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