How to know your investment strategy???

Question

DJ Cummins · Answer

@Jon Roland  The post above nailed this for you.  It depends on what you want to get out of this and what your short and long term goals are.

Jeff Greenberg · Answer

@Jon Roland As far as your strategy, you need to understand several things.

1. What are our goals? 1 year, 5 year 10 year

2. What are your current resources? Time, Money(and/or credit), Education (experience).

3. What is your personality type? Do you prefer to be more passive or active, more in control or less, hands on with a hammer or not, good with people and negotiating or not, good staring at numbers for hours or not, etc. etc.

There are many different strategies as you can see by listening to podcasts.  You can be the only one that can determine what is the best for you now.  You may change many times over the years or may use several different strategies at the same time. As an example, I am an active syndicator at the same time I am a passive investor in other RE and non RE investments.

Anna M. · Answer

I really love the advice given here:

@Brian Schmelzlen, “For example, I know I could never be a wholesaler because I don’t enjoy negotiations or marketing. Know your personality, and that will help guide you to the right strategy.”

@ Jeff Greenberg, “3. What is your personality type? Do you prefer to be more passive or active, more in control or less, hands on with a hammer or not, good with people and negotiating or not, good staring at numbers for hours or not, etc. etc.”

Personally, I do not use business cards and that is because I have yet to find myself in a situation where I would need to pass out a business card and if I do, I still have my W-2 job that is still very much a part of me and actually a job I treasure as it has helped shape me into the person I am today.Should someone need to get a hold of me, I can give them my W-2 business card, or simply swap numbers right there as I hate carrying additional paper on me and in this digital age, you will find that more and more people are using hard copy documentation, less and less.It just seems to me to be an unnecessary expense.I suppose it would matter if you were a wholesaler or into a niche that required it, but for me as a buy and hold, I go cheap and I stick to phones.My market also dictates to some extent what I choose to invest in.I do not have a website and/or business cards because living in Denver and primarily dealing with Gen X and/or Gen Y (Millennials), none of these groups, and especially the later, care to be carry around your business card.Anyway that’s just me on the whole business card deal.

As far as investment strategy, I “ABSOLUTELY” love the way these gentlemen have explained it above.Personally, I love control.I thrive on it and have always wanted to be my own boss.It is for this reason that I actually self-manage all my rentals and plan on doing so for as long as I can.I am also very analytical, organized and a little of a thinker, constantly building systems and tools to make life easier.Because of that, I find that self-managing is something I do fairly easily.It didn’t always used to be like that.It is a skill I have developed and continue to develop over time.I also find that I want to scale quicker so for me the focus is multi-families not single families.Additionally, I prefer smaller not large multi families.So 12 maybe 16 unit max as I am also looking to provide a certain kind of home that the larger type multi families I feel will not be able to get me there.Anyway, great thread and thanks for all the input as it helps the rest of us learn too.Oh, just like Brian, I could never be a wholesaler.My passion is in the active, control, with some hands on DIY, staring at systems kinda thing.Cheers!

Cody Evans · Answer

You have to make business card with the people you are handing them out to in mind. Are you handing them to people that are selling properties to you at a discount? Maybe something about how you help out difficult situations and paying 1000 for referalls if you close a deal on that referral.

How to know your investment strategy???

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