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Habits of Highly SuccessfulCommercial Real Estate Investors
Habits of Highly Successful Commercial Real Estate Investors
Success is little more than the long-term outcome of following a set of simple, and
often boring, set of habits. Highly successful commercial real estate investors share a
set of habits. Understanding and adopting these habits will help to ensure your
success. Begin your investing career on the right foot. Habits can make all the
difference.
Tip the odds in your favor by having effective investing habits:
1. Successful investors have a group of trusted advisors. The members of the
team will vary with the type of commercial real estate involved. An accountant,
attorney, banker, title company, and mentor are standard. Contractors,
business partners, and property managers might also be required.
2. Focus. Find a niche and stick with it until branching out makes sense. If office
buildings interest you, then stick with office buildings. Apartment buildings are
a viable option, too. But become an expert and maintain your focus in this area.
It’s a mistake to spread yourself and your attention too thin. Choose a
niche and learn everything you can.
3. Stick with the numbers. Finding good deals isn’t easy. It can take months to find
a good deal. Many beginning investors fudge their numbers out of frustration
so they can finally do a deal. Get better at looking for deals instead of lowering
your standards. Lowering your standards increases risk and the likelihood that
you’ll lose money.
4. Never stop farming. Since deals take time to find, it’s important to always be
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