Episode 007: The Investor Mindset

<p><span style="font-weight: 400;">Real Estate is the best way for the average person to build personal wealth and in today’s market having an</span> <strong>Investor Mindset</strong> <span style= "font-weight: 400;">is what’s going to get you to that goal. No matter if a client is looking to be a first-time homeowner or looking to move out of their current home, having this mindset can help get the most out of their investment. The idea of converting a home to a rental can seem like a big responsibility, and for that reason people will rule it out as a possibility. Like any risk, if it’s well managed and planned it can be a solid family investment.</span></p> <p><span style="font-weight: 400;"> </span></p> <p><span style="font-weight: 400;">Here are a few things to consider getting yourself into the Investor Mindset:</span></p> <p><span style="font-weight: 400;"> </span></p> <ol> <li><strong>When buying a house always keep open the possibility for rental investment in the future.</strong> <span style= "font-weight: 400;">Whether or not a new home is eventually turned into a rental, keeping future investment in mind can get a jump on things from day one. Understanding what your buy box is (does the property have a pool, HOA, what is the state of the roof, etc.) can make the investment lucrative in the future.</span></li> </ol> <p><strong> </strong></p> <ol start="2"> <li><strong>Be prepared to make it a Long-Term investment.</strong> <span style="font-weight: 400;">Making improvements to the property can increase value while decreasing long-term liability (invest in tile floors, granite countertops, etc. to keep the property as tenant proof as possible).</span></li> </ol> <p><strong> </strong></p> <ol start="3"> <li><strong>Use all the tools available to make the investment worth it.</strong> <span style="font-weight: 400;">Property management companies can keep things professional between the homeowners and tenants, benefiting both parties and saving on having to make those highly emotional decisions.</span></li