Done is Better Than Perfect

I talk to people interested in real estate investing every day. The most common question I get is, "What is the best strategy for investing in real estate?"

The answer isn't what people want to hear. They're expecting to hear, "multifamily is the only way" or "short term rentals are the best strategy!"

After meeting and talking to hundreds of real estate investor and buying over 40 investment properties myself I've learned the truth. 

There is no "best" strategy. 

The best strategy is always what works for you. I've met people who have been successful with industrial, office, multifamily, single family, STR, section 8, etc, etc. The list is infinite. If it exists there is a person that is doing extremely well with it.

The problem for newer investors is that there are so many different ways to skin the cat! The other problem is that as soon as you get started down one path you start to see other paths that seem like they may be easier or may provide better returns.

Do yourself a favor. Pick something and commit to mastery.

Your strategy matters less than you think. You can be successful at anything but you need to be interested in it and you need to be committed to mastering the strategy. You will never achieve success bouncing all over the place.

The same can be said about even getting started. You need to take action and focus on what matters. I have had too many conversations to count about the best way to invest or if someone should open an LLC or not. Inevitably, the people who get paralyzed in making unimportant decisions are experts at procrastination. In the end they don't do anything and 5 years later I see the same person at a meetup debating the same irrelevant topics.

Focus on what matters like finding the deal first, that's all that matters. Once you have found a good deal you can figure everything else out. The only thing you need to do before finding a good deal is securing funding and the two can be done simultaneously many times.

If you take anything from this blog post please make it this. Pick a strategy, stay focused, make your priority finding a good deal and you'll be able to figure the rest out later!