3 Questions New Investors NEED to Ask But Don’t

by | BiggerPockets.com

Starting out in real estate investing can be VERY overwhelming for newbies. There is so much information and knowledge out there to consume. There is no right or wrong way to begin in this business, but I will say that most new investors move too quickly into the “doing” and don’t set themselves up for true success.

In today’s video, I share three powerful and important questions all beginning investors should be asking themselves as they begin on this journey. These questions will help you determine your real estate strategy and path. These questions will take some energy and thought but are well worth answering.

Related: 4 Toxic Habits That Sabotage Even the Most Promising New Investors

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3 Questions New Investors NEED to Ask But Don’t

As always, let’s get some discussion going! Here’s my challenge to you: I challenge anyone watching this video to stop what you are doing and actually ANSWER these questions. I encourage you to be so bold as to include them in the blog comments!

Go for it!

About Author

Matt Faircloth

In 2005, Matt founded The DeRosa Group along with his wife, Elizabeth. At the time, the two person company owned and managed two assets – a single family home and a duplex. Over the last nine years, they have grown the company to a 12 person team owning and managing over five million dollars in residential and commercial assets throughout the central NJ and Philadelphia area. One of DeRosa’s mantras is “to make money while making a difference.”

15 Comments

  1. Jessica Hardison

    In 5 years I will be investing full time in Utah making a minimum of $500,000 a year. I will have a long term partnership with a real estate investor who will handle the financial and business operations side. My role in the 50/50 partnership will be mainly as a creative designer making sure the floor plans are as functional as possible and that the materials used are unique, aesthetically pleasing, cost effective, and eco friendly. I will be involved with leading our team of contractors and others on the team to help heal each home restoring it to it’s fullest potential. I will be somewhat hands on and stage each home to sell. Together we will set a new standard for property values and teach others how to do the same. I will have bought my first home for my kids and pets to live in. A large house with beautiful views, a large back yard, and a pool. My kids will be 19, 17, and 7 years old by then! I will be highly sought after for advice, investment opportunities, and design. I will spend my spare time giving back to those in need with my kids. I will be healing and bringing value to people as well as homes equally. My spiritual gifts as a medium will help me on my path as well as others on theirs. I will be publically speaking, writing a book, traveling, and having fun as I live a balanced, authentic life sharing it with those I love.

  2. Harriet Nanfuka

    Great video thank you for putting more emphasis in my head what I needed most, those three questions are amongst the most important factors I considered when chosing why, where and what to invest in.

    Where will I be in three years is one of my why I should invest in real estate, what I am investing in.

    I work full time and I do not want to do that Iin the next three yrs so I have made my goal to have enough properties to cover my current income in the coming three years therefore deciding to BRRR until my goal is achieved. For that reason I do not want to put my down payment in a property for five yrs to recoup it.
    For that same reason I am going private money.

    I know what I am good at, I am using that to surround myself with people who are great at what I do not know or Not good at. I can talk my way into a great contractor, plumber or town administrator help. That skill is connecting me to skilled people I did not imagine I can meet. I might not be able to lift a hammer but talk and research, persistence
    and hussle I can. That will build my investment empire.

    Thank you Matt some of needed that

    • Matt Faircloth

      Hey Janice,
      Can I challenge you to go a little deeper, and also speak as if it’s now 5 years from now? Say words like “I AM” also versus I hope. It feels stronger, and try reading it outloud once you write it. I hope that helps!
      Matt

  3. Jacob D Adamczak

    Thanks for the video! I had been spending a lot of time trying to learn all the things I didn’t know and become proficient at what I’m not good at. This video makes a good point that I don’t need to do it all myself. Thanks for the perspective!

  4. Erin Spradlin

    Hey Matt- I work with a ton of real estate investors in Colorado Springs and Denver, and this was a great/practical video about what people should consider when thinking about investing. I particularly liked the part about considering what your strengths/weaknesses are before getting into this (and, as a side note: I think that’s great advice for any big commitment you make.)

    • Matt Faircloth

      Hey Erin,
      I appreciate it! For example, I know you are big in the Air BnB space. I’ve actually never done an AirBnB deal but want to learn from people that are great at it like you so I can be successful. It would be foolish for me to try it on my own with out help. The same applies to all aspects of business, and life for that matter.
      Thanks for your comment, good to hear from you. Let’s talk AirBnB soon!
      Matt

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