The Money-Mindset-Template -Formula -Robot
As I begin to educate myself in the world of real estate investing I am inspired by all of the fearless investors who take risks and find creative ways to finance and get deals. Real estate investing and flipping has become increasingly popular because of the return on the investment and the ability to use other people’s money to do so with the intention to increase both parties return. I wonder how these investors go from being creative, fearless risk takers to what I call “Money-Mindset-Template-Formula-Robots”.
Here in Utah I have yet to find a real estate investor who doesn’t do this type of investing. The investors that I have met are following an investment strategy that others have proven works. Like a well-oiled machine they are flipping properties as fast as possible and moving on to the next. They often use inexpensive poor quality materials as they create carbon copies of these properties to sell as quickly as possible before they move onto the next one. It seems as though they have let fear take over when it comes to putting the money, time, and work into their investment. They put a band-aide on the house doing as little as possible to improve the property before they resell it for the average comp. It seems as though they are afraid to take another risk and do things differently than what others have shown works. Have they forgotten how they got the deal in the first place?
These types of investors have become followers instead of passionate, creative, leaders who aren’t afraid to take risks. I believe this is where these investors leave money on the table by choosing to play it safe. They forget that taking risks and being creative doesn’t always mean spending more money, time, and effort. They miss out on the opportunity to further increase their return on investment, raise property values, and to create a beautiful functional home instead of just a house.
What type of investor are you?