One Of The Most Important Questions In The Game Of Real Estate: Why?
One Of The Most Important Questions In The Game Of Real Estate: Why?

I’ve met a lot of Canadians who have been very successful in real estate investment. Some of them are full-time investors who own hundreds of units in large apartment buildings and complexes. Others stay faithful to their daily nine-to-five (not to over generalize working hours, as so many of work outside the old ‘bank hours’ adage) while owning a couple if not a couple dozen revenue-producing properties that provide tem that extra monthly income needed to lead a better life. Many other folks I’ve met are now “living the dream”. They have achieved what they wanted with their strategic real estate investing and are living off the cash flow, sailing around the world for months at a time, travelling to help charities, driving the hottest car in town – whatever they want to do with the money they’ve earned.

I have also met many who have not yet made it through what we would call a ‘typical’ real estate cycle. They got involved in the business without a realistic plan and didn’t understand that real estate investing requires a great attention to detail and awareness of the inevitable ups and downs. Members of this cohort got caught up in the “get rich quick” myth that surrounds real estate investing and forgot all about it being a business that takes proactive management and analysis. These types of people can be found in any and all industries, investments and walks of life – so it’s not surprise real estate investing attracts them, too.

As sophisticated investors like you know, true long-term success in real estate is created by following a proven system, rather than running a business off the cuff. That being said, success in real estate can only be measured by what it is that each person sets out to achieve – your goals are unique and entirely your own. Some investors just want to make enough extra cash to build a nest egg as part of their long-term financial strategy, while others want to build a legacy that makes a significant positive impact on their life as well as the lives of people around them. No single goal is right or wrong – everyone has a different outlook for their future.

The one aspect of real estate success that never wavers is quality. The quality of the real estate investments in one’s portfolio far outweighs the speed of growth of that same portfolio. It doesn’t matter if you are investing to ultimately quit your day job or you are just looking to add diversity to other financial strategies – the quality of the property and the region in which it is located are the critical pieces of the long-term sustainable wealth puzzle.

Here’s an example: many middle-aged investors see part-time real estate investment as a way to feather their retirement nest. Regardless of why they get started, all of them are attracted to the ability to earn passive income with a potential for capital appreciation. The paths they take along the way may differ because they are working with different end goals in mind, but no degree of success will be realized if a property is bought on speculation because it was cheap or if it was purchased in a region with a past rather than a future.

Regardless of an investor’s specific goal, I call this quest for a certain quality of life a Personal Belize, as in: “What’s your Personal Belize?” While the term implies visions of sandy beaches and tropical sunshine, a person’s Personal Belize is just as unique as their fingerprints – none is the same as another. What IS expected is that every Personal Belize will have its roots in the same quest: future financial security through sophisticated real estate investment. Once you’re in a room with a bunch of people for whom that’s a shared goal, good things happen.

Now, I often (if not always) talk about how sophisticated investors build future wealth and mitigate risk by being both strategic and intentional. To summarize the strategic front, REIN™ has been teaching the Authentic Canadian Real Estate (ACRE™) investment system for 20 years, giving investors the tools they need to let real estate market fundamentals guide their investment decision. The system provides investors with the exact questions to ask, the answer they should be receiving and the tools to dig deeper than the other investors out there in the mix. Speculation gets thrown right out the window, and investors get a true boost to their confidence.

If the foundation of strategy comes down to knowing what you’re talking about and being able to take action based on that, then intentionality is all about doing what you say you’ll do. Sophisticated investors take that notion a few steps further – which is where the Personal Belize really comes into play. These investors just know WHAT they’re doing, they know WHY they’re doing it. To them, success is much more than a number on a ledger page. It is not measured in just true dollars attained – it is completely measured by the lifestyle they were shooting for and their ability to obtain it. It is completely built on a portfolio with purpose.

If you’re considering real estate investment as a vehicle to bolster your long-term wealth plan, or maybe you’re looking to ramp up an existing portfolio, the ACRE™ Live program is the must-attend event for you. Coming to Edmonton on October 19-21 and Vancouver on November 2-4, this weekend real estate bootcamp is the jumpstart you are going to need to take your plan to the next level and realize the goals you want for yourself and those around you. Hope to see you there!

One Of The Most Important Questions In The Game Of Real Estate: Why? was last modified: September 21st, 2012 by maddy
 

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