RE Investing Skills and Assessment
As investors it is good to know and understand the skill sets one currently has and either develop or get help with those one doesn't have.
What skill sets and experiences have you drawn from? When you look at different real estate opportunities, what in your mind makes a good deal? What differentiates you from another investor? We are all different due to life experiences, skills we have learned, and our individual strengths and weaknesses.
Success is often built on doing what we are good at. Do you know what you bring to the table and how to use it?
Most Popular Reply
For commerical real estate investment and to perhaps a lesser degree SFR investment, there are four primary required skill sets in my opinion:
1. The Hunter the deal finder
This is the networker, constantly out in the market, talking to the brokers and all the other players in the market. Hunting searching for deals. Optimistic energetic relentless on the lookout for deals. Risk tolerant.
2. The Brain or the Mind
This is the analyst the underwriter the numbers guy. Risk adverse. Slow methodical precise detached from the outcome.
3. The Operator or the Hammer
This is the person that actually runs the physical asset - property and asset management, project management - takes care of the day to day gritty details of operating rental property. In some ways the most important member of the team. Practical risk adverse grounded.
4. The Capital or the Money
The persons with connections to capital and money. Energetic optimistic People person.
it’s hard for one person to embody all these skills and that’s why at least for MF investment putting together them team is critical to success.
great post!
Arn