What Real Estate Strategy Are You Best At?
Most real estate investors tend to focus on one particular strategy that works best for them. Ideally it's the strategy that you are good at, enjoy doing and is making you money.
This may seem like common sense, and to stick to what you know and whats currently working BUT a lot of entrepreneurs have ADD that takes the better of them. They start diverting from their game plan and try to do everything. They try to be involved in everything and end up doing everything pretty poorly.
First off, there is a lot of ways to make money in real estate and all the different investing strategies can be good. It doesn't matter if you're flipping, wholesaling, doing rentals, doing commercial, doing construction, doing lending—they're all great business models. The important part is to make sure that you're mastering one of them. Create a wheelhouse of what works and stick to it...
After you master one of those, if you want to expand and do something else, that's fine, but when you’re starting out, stick to your wheelhouse. It’s important to make sure that you know what you’re doing and that you enjoy doing it because there’s no sense in doing something on a regular basis that you don't enjoy.
So stick to what you like. It doesn't matter what side of the industry you're on. If it's working for you, stick to it, become better at it, master it. Most importantly the financial outcome of a real estate transaction is all that matters. That is the goal—the dollars and cents, the financial outcome.