Here is a compilation of nine common characteristics of successful real estate investors.
Have a Plan and stick to It
Successful investors have a clear goal and a plan to reach that goal.
Join an Investors Network
Successful investors always have a mentor who has a wealth of information and valuable experience to share.
Be a thinking Investor
Successful investors conduct a periodic review of their portfolio and work hard to sell their loss-making property.
Protect the Assets
A successful investor will never take any investing decision that has the potential to wipe out all existing assets.
Be Ethical
Successful investors will formulate an ethical code to define what is fair and what is not.
Involve the Family
A successful investor will update key members of the family about the current business situation and will provide insight into the thought process behind a business decision.
Be Nice to Others
A successful investor understands that being nice to people goes a long way and is profitable for business.
Stay Updated and Informed
Successful investors keep a hold on their business by being informed of all the news that might have an impact on their business.
Successful Investors Pass on What They’ve Learned
As important as having a mentor, a successful investor should in turn be mentored and allowed to share his learning (and successes) with newcomers.