What is a successful investor? Feedback please.......

Question

Hello BP family. I took some time off and now back in the saddle and want your feedback. Each week I will post a question and I want the good the bad and the ugly.

What makes a good real estate investor?

I want to hear from lenders, real estate brokers/agents, Investors, Newbies, Writers, Moms, Dads, I just want the truth! I want stories, I want qualities, tools, teams, strategies, relationships, I want it all. From you, the investor, the successful stories and the not so successful stories.

I have been working real estate now 6 years in the Spokane area and have seen many challenges overcome and Ive also seen the nightmare side of investing.

Give me the dirt on investing.

Brian Ellis · Answer

What makes a good/successful investor, really depends on the person.

My opinion: persistence and discipline. Things may not work out the way you want them to, but there is always success in trying your best.

Tyler Barranger · Answer

Thank you @Brian Ellis and @Cameron Tope, I agree and appreciate the feedback.

Caleb L. · Answer

What makes a good real estate investor. Or any investor for that matter:

"What you do need is the right temperament. You need to be able to detach  yourself from the views of others or the opinions of others. You need to be able to look at the facts about a business, about an  industry, and evaluate a business unaffected by what other people think.  That is very difficult for most people. Most people have, sometimes, a herd mentality which can, under  certain circumstances, develop into delusional behavior. You saw that in  the Internet craze and so on. I’m sure everybody in this room has the  intelligence to do extremely well in investments." - Warren Buffett

"You have to come to your own conclusions, and you have to do it based  on facts that are available. If you don’t have enough facts to reach a  conclusion, you forget it. You go on to the next one. You have to also  have the willingness to walk away from things that other people think  are very simple.

A lot of people don’t have that. I don’t know why it is. I’ve been  asked a lot of times whether that was something that you’re born with or  something you learn. I’m not sure I know the answer. Temperament’s  important.

If you don’t know the answer yourself don’t expect somebody else to tell  you. If you don’t know the answer yourself and somebody else says they  know the answer, don’t let that fact push you into coming to a  conclusion about something that you don’t know enough to come to a  conclusion on." - Warren Buffett

Don't follow the heard. And invest in stuff you understand.

"You have to do what works, what you understand, and if you don’t  understand it and somebody else is doing it, don’t get envious or  anything of the sort. Just go on and wait until you find something you  understand." - Warren Buffett

You also need to have the discipline when investing in anything. Discipline will help you make smarter decisions, always.

Cameron Tope · Answer

@Tyler Barranger I agree with @Brian Ellis and would add focus. Shiny objects can derail a new (and frankly seasoned) investor.

Thomas Dougherty · Answer

Always considering own financial status and make a diverse portfolio

Tyler Barranger · Answer

https://www.quora.com/unanswered/What-qualities-must-a-real-estate-investor-acquire-to-be-successful?ch=10&share=c65030f7&srid=5gSKO

What is a successful investor? Feedback please.......

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