let’s talk: 5 THINGS TO BE THANKFUL FOR AS A REAL ESTATE INVESTOR
IT IS THANKSGIVING EVE, which means lots of food, WINE & an opportunity for reflection. So today I am writing about 5 things I am personally THANKFUL for as I continue to build this career in REAL ESTATE in hopes to pep us all up for a solid year end. If I have learned anything over the past couple of years, it’s that real estate AIN’T EASY and can be super trying at times, so it is nice to take a beat and talk about the aspects of this career path that are GREAT.
So, as we do, let’s talk Real Estate, let’s talk 5 THINGS TO BE THANKFUL FOR AS A REAL ESTATE INVESTOR…
#1 FREEDOM TO BE CREATIVE
One of the coolest things about investing in real estate is that THERE ARE NO RULES. Well, you can’t and should not do anything illegal, but what I mean is that there is no one set way to invest. You can wholesale, invest in rental properties, flip houses, start Air BnBs, lend money to other investors… the list goes on.
There is also not one set way to close a deal. Because there are “no rules”, you can be creative in how you structure your deals. We are in the midst of trying to secure another multi-family up in Binghamton at the moment where we are structuring the loan on the deal in a way that is so different from our other properties. We are working with the owner to come up with a solution that is best for ALL of us. This is something totally new to us, and since there is no right or wrong way to get this deal done, it has been really fun to work on. We just have to come up with something that makes all parties happy.
#2 FLEXIBILITY
I can do this job anywhere. Legitimately, anywhere. I have been working to build an operating rhythm that allows me to live in one place, and invest in another. It allows me to travel around and still be able to manage these properties or projects from afar. And while I do currently travel out to our properties every once in a while, that is by choice. Being there in person from time to time allows me to learn the ins and outs a bit better. As we continue to “perfect’ our systems and methods, being there in person won’t be as necessary.
Thanks to online property management platforms and well, the internet, this career path allows me to be where I want, and do what I want, when I want (within reason obviously lol). It gives me the flexibility to use my time as I please and I could not be more grateful for that.
#3 BUILDING A LEGACY
I want to say this is the part I am most excited about. One thing I find cool, and also true about most human beings, is that many of us have this internal desire to build something that we can one day leave behind or pass on to others. Whether it’s leaving something as simple as a good impression, or a cool invention, a business, or any other types of assets, etc. The feeling that you are building something that could one day benefit a person outside of yourself… it’s a really cool feeling.
Now the next 2 items on my list are a little different from the top 3, in that they are particular aspects of the “job” that make life as a real estate investor SO MUCH EASIER.
#4 “GOOD” TENANTS
If you invest in rental properties, good tenants are seriously GOLD. They determine if your bills are paid, what condition your property is left in, how much daily work you may have to do, and ultimately, can really affect that bottom line.
#5 GREAT PARTNERS
Great partners are CRITICAL to any business. I am fortunate to have partners who challenge but also support and motivate me daily; cheesy, but true. Surround yourself with people who empower you to become better.
THAT’S ALL FOR TODAY FOLKS. WOULD LOVE TO HEAR FROM ALL OF YOU AS TO WHAT YOU ARE MOST THANKFUL FOR THIS THANKSGIVING. WHETHER IT BE IN YOUR CAREER, YOUR PERSONAL LIFE, WHAT HAVE YOU. SOMETIMES IT IS NICE TO JUST TAKE A SECOND AND TALK OUT LOUD ABOUT THE GOOD IN YOUR LIFE.
HAPPY THANKSGIVING!
Erin
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Me – this is based on my own personal experience!
