Brand newbie getting started in real estate investing.
Would love some experienced advice on which personalities/knowledge/skills/abilities best fit with which property niches and investment strategies as presented in the “BiggerPockets Ultimate Beginner’s Guide”?
Thanks so much!
MBTI personalities that end in "J" are going to be the most successful personalities when it comes to investing. Also types with "T" will be better at evaluating deals, while types with "F" will be better at interacting with people.
Appreciate that perspective
@Steve Hall . Would you say that certain personalities are better for buy and hold and others are better for flipping? Same question extends to other investments types and also what types of real estate to invest in? I don’t want to assume that buy-and-holding condos is best for us just because that’s my current living reality.
@Michael Chapman It all depends on your goals and your personality type. As an investor with over a decade of experience, I've learned it's best to pursue techniques and act based on your personality. You can read what others have done but just remember those techniques have worked for them and their personality. It may not necessarily work for you. In the beginning, I made the mistake of pursuing niches and techniques that worked for others. But I learned through experience to do things based on my personality which may have conflicted with what others did and/or believed in. In the end, this strategy has worked for me and has helped shape myself as a real estate investor. Hope that helps!
You need to research more. As you research more you’ll naturally work out your ideal strategy. You’ll naturally follow a path of interest and keep researching deeper and deeper into it.
I started not knowing, then I thought I could easily do broad investing across different areas and types. As I read more and did more planning I came to realize I only have interest in extremely low maintainence 3/2s in my own neighborhood. I’m even considering selling my 4 bed 2 story as I have no interest in renting it out as it doesn’t fit my plan. I may instead carry it for income instead.
@Scott Anderson I appreciate that perspective. I am already finding that the more I research the more clarity I feel around the strategy that will best fit.