5 Things Every Real Estate Investor Needs To Know

Some say that in order to be a successful business owner or a real estate investor, you have to be a generalist. In other words, you have to know what to do in the event that something unexpected happens.

You have to know a little bit of everything so that you can come into the rescue and continue to push your business forward.

What’s it like to be a business owner, how do you come into the rescue? What kind of skills do you actually need in order to continue to push your business forward? You don’t have to know everything, you don’t have to be an expert in anything but you do need to know just a little bit about everything.

1. Stay on top of trends. 

Trends meaning what’s happening in your business, what is happening in your field. Things such as what type of appliances to include, what type of layout, what kind of colors do you want to paint the house, what is trending. 

Those are some of the things that you need to stay on top of and the best way to do that is through a website called Pinterest. It’s not just a website it’s also an app that you can quickly download on your phone, and it’s like a board, it’s an online board, an electronic board where you can just pin pictures.

If Pinterest is not your way to go, you can always go a little bit more old school with channels like HGTV for those who have cable television, but just keep in mind that you don’t always want to tear down a wall, they make it look a lot more glamorous as it seems, but just use HGTV, take it with a grain of salt and use that just to get ideas as to what it’s selling, what is it that people are looking for. 

2. The ability to paint. 

Painting a wall, whether you’re using a roller or whether you’re using a brush, it’s a skill, it’s an art. If you take too much paint in that brush and you start painting over the wall, you’re going to get a very thick paste and the wall is not going to look uniform, it’s going to have some sort of bumps.

Real estate investor mindset

You never know when you will have to paint the wall of your property, it is better that you learn how to do it before it happens

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The worst part is that you’re going to see drops falling further down into the wall or perhaps some drops and the floor, and then you’re creating more work for yourself because now you’re going to have to clean up the floor. 

Same thing with the roller, you need to have the right amount of paint because if you put too much in it the roll is not going to roll and if you put too little on it, you’re going to either have to keep dipping the roller into the paint or it’s just simply going to look dry and then you’re going to start seeing holes of paint.

3. Learn how to use basic construction tools

Use construction tools and by construction tools, we mean simple things. Learn how to use the hammer the proper way, or just to put nails into the wall, or maybe plasters and painting, for example.

The time will come when you will need to make simple repairs and for this reason it is important that you know and understand what needs to be done. There is no need to hire a person to do these kinds of simple jobs as it takes more time and more money.

4. Familiarize with your suppliers.

Real estate investor skills

When having real estate investments, you must be an extremely creative person, in order to solve problems.

Suppliers are very important. No two-supplier will specialize always in the same thing, sometimes you will need a backup supplier because maybe you’re looking for some type of building materials or some appliances, and while one provider, one supplier doesn’t have it you can go to another supplier or a vendor and make sure that that it’s available for your use and for your need. 

Having a close relationship with your suppliers is essential to be able to solve some situations in the shortest possible time and at the lowest cost.

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5. Learn how to be creative.

There are multiple ways to save money and be creative at the same time. Try to search first and buy later. This means that you really have to take a look at all the stores around your area so you can pick the ones who have the most competitives prices. 

You have to be creative about the budget that you are going to use to make a simple change or a renovation on your property.

You have to make sure to research all the prices and options that are available in the market so that your project can be done efficiently and that you can get the most benefit out of it.

You can find biodegradable materials, those that do not harm the environment and at the same time give your property a modern and friendly style.

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