Be A Real Estate Heavyweight By Discovering Your Sweet Spot In Real Estate Investing

So you've resolved to jump feet first into real estate investing. Terrific! But where do you go from here? Do you start by sifting through the information available in your market on what type of investing has the most return on investment? How about finding the latest, hottest investment method and starting there? No. When you make the decision to start your real esteate investing career, you should start with YOU. This means you do what the Real Estate Heavyweights do: determine your Core Proficiencies first.

You know you've found your Core Competency in Real Estate investing when it satisfies the following criteria:
1. You can complete it with proficiency every single time
2. You can do it consistently.
3. You're passionate about it, i.e. you're excited every time you get to work on it.
4. You get paid well to do it because you're supplying a invaluable service.

Consider each of these points:

The first is the most important. Sure, you may enjoy lots of activities, but if you can't pull it off effectively every time than it doesn't qualify as a Core Proficiency. You may get a thrill haggling with lenders while trying to work foreclosure deals, but if you can't really nail down a good deal, then you should NOT view it to be a Core Competency. Many people leave out this point. They tend to consider the newest trend in Real Estate investing right now is method X, so that's what I'll pursue. Sorry, It simply doesn't play out that way. The bottom line is, If you can't do it perfectly almost every time, without mistakes, it doesn't qualify.

Being able to perform a task consistently follows from the first point. If some technique or skill is your Core Competency, you should be able to see good results every time you do it. Not only do you not make mistakes in deals as mentioned above, but you get acceptable, gainful returns when you use this method or skill. If you aren't getting uniform results, move on.

Your Core Competency has to energize you. As crazy as it sounds, some investors don't consider this step. I know I idn't starting out. I used to negotiate foreclosures a few years ago, but I don't anymore. Why? Because even though I was able to get some deals done, I hated doing it! The very thought of having to talk to another operator in loss mitigation made me wish to do something else, anything else. So, I stopped doing them. I know some people who get a real kick from working short sales. Not me. It'll never be my Core Competency.

The ability to get paid is obviously an important point. What's the point of doing something well in this field if you can't get paid for it? Not only will you speedily tire of Real Estate investing, you won't have the means to do it for very long anyway!

Once you determine your Core Competency, you'll have taken a big step toward succeeding in Real Estate investing. Learning that sweet spot, that corner that you can do well, enjoy, and get paid to do, will put you head and shoulders above your rivals. It's the first thing the Real Estate Heavyweights do, and it's the first thing you should do.