Best real estate investing strategy for introverts?

Question

Hi -

So when it comes to business, I've found out I'm a true introvert. I don't like to deal with people any more than I absolutely have to. Some is fine. But, I prefer numbers, research, and analysis to dealing with people. FYI, I'm not one of those "introverts" who likes to fake it and can talk with lots of people all the time like some present themselves as.

So, what's the best approach for me, and what're some good resources on getting started with it?

Appreciate your thoughts,

Dan

Chris Seveney · Answer

@Dan Stelter

I think too many people focus on tax benefits vs overall return. While you have depreciation owning real estate, less than 10% do a 1031 exchange so you end up paying those taxes when you sell so you just defer them - and for those investing $100k it’s not life changing money.

There are many REIT’s and private funds that offer tax advantages as well.

Theresa Harris · Answer

I don't know, but I wouldn't be buying a rental for the tax benefits.

Account Closed · Answer

As a fellow introvert, id suggest private lending or sydication investing

Dan Stelter · Answer

So then how do you get into land and tax liens without money? That's the situation I find myself in. And, do those provide a higher overall return than real estate rentals?

Joseph O'Sullivan · Answer

Hi Dan,

I am a real estate newbie, but I can parallel the question to my owner's rep day job.  My colleague in some meetings is quite and introverted, but he is the brains behind the effort of coordinating all the design details, but I am the one managing the flow of the meetings to be sure efforts are on track and asking the probing questions to turn over each rock.  We complement each other to be sure we get a quality product for the owner.

The parallel is that you could find a business partner that is the store front and does the people interactions while you quietly attend the meetings commenting on occasion, but are the brains behind the details and the analysis.

Just food for thought.

Sincerely,

Joe

Dan Stelter · Answer

The tax benefits are only available when you directly purchase real estate and rent it out, correct? Does investing in real estate that way make a lot more financial sense than investing in a REIT?

Theresa Harris · Answer

Find a property manager you can work with, buy a place, have them rent it out and deal with the tenants.  Or buy into a REIT.

Nadeem Alamgir · Answer

You don't have to network and meet people face-to-face as much as you think. Some investors have built excellent teams that they have never met (out-of-state investors, to be exact). You can mimic their experience.

In my opinion, I think too much time is wasted spending hours discussing and building relationships in person which can be developed over the phone.

Chris Seveney · Answer

@Dan Stelter

1.. Be a passive investor

2. Tax liens

3. Buying land

4. Private lending

Best real estate investing strategy for introverts?

Most Popular Reply