Retain Everything, Forget Nothing

Diversity is a must. Too much of anything will kill you. Do everything in moderation. I’m sure you have heard it all before and these mantras hold true in all aspects of life. Let’s talk real estate right now though. Any smart investor perfects one aspect of the real estate game and then progresses on Top 100 Real Estate Companies In Usa to higher forms of investing. Whether you perfect flipping homes for a pretty penny at first and then graduate to multi-million dollar multifamily acquisitions, one should always be progressing through various levels of expertise. However, once you do progress, never forget the skills of the past.
As a successful home renovator, we learn lessons on our journey to perfection that can make you very profitable in many other investment techniques. Knowing how to cut small material costs when rehabbing a single family home can translate to hundreds of thousands of dollars in savings when renovating a 100 unit apartment complex. On the other hand, let’s say you start out in real estate buying 100 unit buildings. Your knowledge of leasing and problem solving with your tenants (alongside your property manager of course) can translate into keeping your retail spaces secure in your newly acquired strip center.
I have realized that you will never know everything when it comes to playing big boy monopoly. On the other hand, through close analysis and the ability to soak up all the small details of a project like a sponge, you can progress through the highest ranks of investment prowess and become a well rounded and versatile investor. This Selling House And Buying A New One Calculator style of play will also allow you to diversify your risk level as well. Being overly invested in single families, apartment buildings or land for example can be the death of your portfolio. Being able to go through various deal types from start to finish with minimal risk will keep your bank account full and your life stress free.

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