Personal Development

The Top 7 Things I’m Thankful For as a Real Estate Investor (What Are Yours?)

Expertise: Real Estate Investing Basics, Personal Development, Flipping Houses, Real Estate Marketing, Real Estate News & Commentary, Business Management
60 Articles Written

As the Thanksgiving holiday approaches, it’s always beneficial to take a step back from our day to day routines and count our blessings. It may be good health, a loving family, or even something as simple as a reliable car.

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If you’re a real estate investor, though, there’s a special subset of items that you can likely relate to. Here’s my top 7.

The Top 7 Things I’m Thankful For as a Real Estate Investor

7. Tenants That Pay on Time

Perhaps this should be number one, as it’s a large contributor towards wealth creation, but it was the first thing that came to mind. If you have families or tenants that are diligent about paying their full rent every month, it makes life a lot easier and your business run smoother. (If not, it may be your vetting process that needs to be re-examined.) Perhaps send your tenants a small thank you card at Thanksgiving or Christmas to let them know they’re appreciated.

6. A Good Attorney

If you’re stuck in a position where you need to evict someone, have a lawsuit being threatened, or need to make sure your subject-to contract is drafted correctly, an experienced real estate attorney is worth their weight in gold. This may be the one time you’re given permission to admit you love a lawyer!

Related: 10 Reasons I’m Thankful I’m a Real Estate Investor

5. A Good Insurance Provider

If you're doing fix and flips, have rentals or are constructing property, you'll soon realize the power of proper insurance. Being underinsured or insuring improperly can expose you and your investments up to all sorts of challenges. Ignorance is not bliss when it comes to insurance, so if you have a good insurance company for real estate investing, be grateful!

4. A Supportive Partner

Whether you've been in this business for 20 years or are just getting started, your significant other will come to understand the type of dedication serious real estate investing involves. Late night phone calls, constant emails, weekends, dinners interrupted — sound familiar? But they know you're building something big for both of you and are proud to be by your side. Just make sure THEY know you're appreciative of their support.

3. A Ringing Phone

If my phone isn’t ringing, dinging, pinging or generally alerting me every five minutes, I begin to fear it’s broken. Not to say I check it that often, but when I do have one of my few “response windows” throughout the day, I sometimes have to remind myself that it’s a good problem to be needed! Your phone should be ringing with leads, your email box should be busy with deal coordination and hopefully your inbox is filled with opportunities. If so, keep up the rockstar hustle; you have much to be thankful for.

2. Opportunity

I was blessed enough to be in the middle of one of the largest foreclosure opportunities in generations and was able to learn "in the trenches." I watched creative minds coupled with assertive attitudes bring solutions to a marketplace, and to this day continue to see successful real estate investors do the same thing, regardless of the economy. When you open yourself to the idea of "where is my value-add in the marketplace?" beautiful things happen. No one is stopping any of us from being successful real estate investors, and if you educate yourself, make moves mindfully and think from a position of value-add, opportunities abound.

Related: 6 Reasons Landlords Should Thank Their Tenants This Holiday Season

1. Connections & Relationships

If you'll notice, much of this list has to do with other people. It is simply impossible in this business to get by or even get ahead unless you develop connections and relationships with those around you. A connection might be a simple as someone you know/follow through social media but learn from or could eventually led to a real-life connection (such as are formed on BiggerPockets). Another example would be having a good relationship with a solid hard money lender or private investor that makes more deals possible for your team. Either way, your success in real estate investing will be directly tied to the depth and width of the connections you foster.

On that note, thank you for taking the time to read this article; I hope you got something out of it. It means a lot to me to have the opportunity to share my thoughts and insight with all of you.

I wish you a very warm Thanksgiving; hopefully you can find many things in your life to be grateful for too.

What are YOU grateful for when it comes to real estate investing?

Post your comments below and/or spread the love by sharing this blog with your friends. Cheers!

Tracy (G+) is an Arizona Short Sale Realtor, Investor, Rehabber, and Foreclosure Expert. She also is an avid blogger, vlogger and consultant on all things Arizona Foreclosures.
    Gary O'Brien
    Replied about 5 years ago
    Hi Tracy, As a person who was in the market and pretty over leveraged when the bubble burst, you might think that I wouldn’t be thankful for the same things that you are. I was pretty sure that I knew how it ended, I had contacted a bankruptcy lawyer who of coarse agreed that this was the only logical solution, a realtor that I knew was sympathetic but knew it was the only way out, in fact it was that realtor who connected me with the bankruptcy lawyer. I had been in contact with a real estate attorney that a very stable rental owner had told me about to figure out contracts. Neither one of these 2 men could I afford any time from but my timing worked out so that I caught both of them favorably. I tried not to bother either of them too much. The attorney had an assistant that he wanted to do really well and while nothing that we talked about could be considered legal council, if it was deemed that if legal council was what I needed, my attorney fee’s would start then. She was so smart and so nice that the thought of not fighting was unbearable, she talked me out of the tree and back in the game. It wasn’t the advice, it was the encouragement that helped so much. Renters, I have to work hard at and they all know that but I try to be what they need and not so much what they want. How I ever thought that a person with limited people skills should be involved with the part of people that plays 2nd only to cell phones I don’t know but I am really thankful that a few people are willing to give it a go. Insurance, I like to believe they like me, because I really think I work them the hardest. Drop the coverage on this, put coverage on that. Am I covered for this or that? Anyhow, you get the picture. Name any group and I probably owe them thanks or an apology, or both but I really hope to be at some point make it worth their bother. Thank you and be happy and safe in all you do. Gary O
    Douglas Skipworth Rental Property Investor from Memphis, TN
    Replied about 5 years ago
    Thanks for the positive and encouraging reminder today!
    Timothy F.
    Replied about 5 years ago
    +1 to this! Especially glad for “3. A Ringing Phone.” Always glad for that one.
    Wilson Churchill from Madison Heights, Michigan
    Replied about 5 years ago
    Here’s my list: 1. $$$ 2. No boss 3. Free time 4. Learning trades
    Dmitriy Fomichenko Solo 401k Expert from Anaheim Hills, CA
    Replied almost 5 years ago
    That’s an excellent post, Tracy. A ringing phone and having a dependable team is crucial for success. And yes, it is important to take time to be thankful for all that you have. Thanks for sharing!
    Replied over 3 years ago
    It’s when you’ll be able to take out your frustrations as you swing a sledge hammer or kick holes in a wall.