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Key Traits You’ll Need to Succeed as a Real Estate Investor

Peter Musila 1 year ago
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Real estate is said to have made more millionaires than anything else. For those who have successfully made money in it, it’s not hard to see why. With so many different ways to grow wealth investing in real estate, there are tons of opportunities for many different people with different skill sets and talents to be successful, make money, and improve their financial position in meaningful ways.

So, what traits do you need to have for you to be successful in the business?

Knowledge

Successful real estate investors have an extensive portfolio. They know more about what drives markets, how to time market cycles, and which things to watch out for. They are much more likely to recognize shifting demands before others do and are prepared to take advantage of these opportunities when they present themselves. Therefore, with this in mind, then you will be able to make it in the business.

Patience

Having patience may sound simple, but that’s not always the case. When it comes to real estate investing, there is a lot of pressure on you to move and move fast. The best deals go quick, and allowing projects to run past the agreed upon timeline can be expensive. Investors are continually facing pressures to do more, do it faster, and do it cheaper.
But there is always the rule that guides them, buy and wait. This requires a lot of patience as it might take several years for your property to gain value after purchase.

Vision

While real estate investing may look like it’s all about the numbers from the outside, this is rarely the case. While buying cash flowing property and holding onto it for an extended period will generally build your wealth, the very best investors do more than buy and keep. They purchase and improve the assets in their portfolio, adding value in additional ways.

Efficiency

Efficiency is a skill practiced by the best business people around, and real estate investing is no exception. The vast majority of us would accomplish much more than we do in life if we could cut through distractions and get things done faster. Kenya, real estate investors, excel in this area as they always tend to seek funds from the local financing institutions to enable them to have the business done with speed.

People

Having a talented and experienced workforce by your side as a real estate investor will see you having much done than you could by yourself. In any project, job, or business, there is a specific number of tasks that need to be completed to move forward. One of the biggest mistakes of the amateur is to assume they must be the one to achieve all these tasks. Successful business people have learned to leverage the talents and abilities of other people to allow them to focus more on the 20% of the business that will bring them more results. There are various construction agents available around, and one can inquire for their services.

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• Grey Oak property in Nanyuki @ Ksh350,000
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• Blue Bells Apartment along Beijing Road @Ksh7.4M
• inFinity Properties in Kantafu @Ksh 625,000
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Source: https://investorjunkie.com/51740/7-essential-traits-successful-real-estate-investors/

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