Become a Problem Solver and You Will Always Be in High Demand
Real estate investing requires a total commitment to learning and executing certain fundamentals. When the market goes down, work hard on your business, on your knowledge base, improving yourself, and your skill set. Learn strategies for acquisition, occupancy, building high achieving team members, and assess the opportunities with vision and thoughtfulness. Then creatively determine how best to proceed.
When the market starts to turn around, which is what is happening in our current environment, most of the competition is gone. This is the time to implement what you have learned to move forward quickly, and dramatically increase your results. These cycles create opportunities that provide the potential for massive increase in wealth, starting simply with education, focus, and hard work. Decipher what inventory category is a problem in the market place, and why; then move in for the kill.
Most investors make a mistake, lose money, and become discouraged. Turn this around – look on this as market testing, “I tested this, it did not work.” Analyze the results, learn the lesson, and quickly move onto the next thing. Be entrepreneurial – move deftly and make an impression, learn quickly, move forward strategically, never giving up. There is a learning curve, and nothing happens in a straight line – business is not like science or academia – it’s not as forgiving. If you own a business – your results are evident for the world to see. Keeping that in mind, work only on things that create results.
Make it easy for people to do business with you – be more nimble and flexible – that’s your advantage over the pros. Take a calculated risk on tenants and potential leases – look at the business model of a potential commercial tenant and decide to take an educated risk – that is how you beat the big guys by creatively navigating the twists and turns of the market constantly developing your niche. Remember opportunities originate from problems, and problem solvers are a highly valued commodity – become a problem solver and you will always be in high demand.
-Written by Geraldine Barry
Publisher of REI Voice Magazine (www.reivoice.com)
Founder & President of SJREI Association (www.sjrei.org)