Over the years I have watched the infomercials about people walking away from closing tables with big checks. The ads always had a relatable average person who was able to buy a property and then through some form of specialized buying approach end up with a big fat check.
What I learned about these approaches is that they worked. People did walk away with checks from learning the infomercials specialized buying approach. So what do you think they did with that money?
I was looking to build wealth not get a big fat check for a one time deal that I would have to repeat over and over again.
What I learned from the teaching offered by wealthy business people who invested in real estate is they weren’t interested in getting rich quick. It was about making sensible property acquisitions that gave a monthly return on their investment and built wealth over time. I call this “conscious” real estate investing.
I didn’t ever walk away with a big fat check when I bought a property. What I walked away with was a investment that I made a commitment to owning, managing and maintaining which provided housing for others and could potentially have a positive impact on the community. Owning property was a privilege.
The wealthy had the long view about investing in real estate. I was fortunate to follow their will worn path when I started investing. I am glad I did as time went by fast, my portfolio grew, fringe markets appreciated and the long view worked as it ultimately does.
Make conscious real estate choices, make sure that your number work, have systems in place that help you manage your portfolio easily, provide great housing and treat your tenants well. No you won’t get rich quick but chances are you will become wealthy.