This week we are going to talk about how your vision is impacting your real estate investing career. While there are many attributes and skills that make for a successful real estate investor, vision is perhaps the most important.
An investor without vision will look at a broken down house and see a wreck. An investor with clear vision will see a diamond in the rough just waiting to be polished and profited from.
An investor without vision will walk away from a good deal when the negotiating gets tough. An investor with clear vision will keep coming up with new angles to bring the negotiation to a successful close for both parties.
We’ve all heard of the person who looks at the world through rose colored glasses. This is a person who sees the positive side of anything - often even when there is no positive side. This is the type of person who will buy a fixer upper that has rehab costs that make the deal unprofitible.
So how do you develop clear vision?
The best way to develop clear vision is through experiential education. For instance, if you walk through Home Deopt or another building store and touch the materials and get to know their prices, you will learn about the quality and prices of different materials. If you take one of their classes, you will
learn the steps involved in doing various repair projects.
When you have your home inspected, walk the property with the inspector and ask questions. Go to every open house you can in your target neighborhoods and see what makes for an exciting house and a bland house in that neighborhood. Study sales trends in your neighborhoods.
Get involved. Ask questions of all professionals - realtors, mortgage brokers, insurance agents, etc.
Think about what you learn, apply it and see the real results that are brought about by your actions.
By taking proactive steps and constantly growing your base of experiential learning, you will soon have that clear vision that separates the winners in the real estate investment game from the also rans.
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