The 4 things you should know to become a successful investor

The 4 things you should know to become a successful investor

The four things You should Know to become a Successful Investor. Welcome to Wealthy Wednesday.

The #1 is to have a plan. Either you are purchasing your first investment or you are in a growth mode buying multiple investment properties or you are a cash cow. You are buying a ton of properties. Got to have a plan. You got to have a plan for every year.

Like the way every businessman does or should do, like the realtor we do a business plan, how many closings we're going to have? What are the lead sources? The whole nine yards..... the marketing. You as an investor have to have a plan for the year. That's number one.

Number two is knowing the market. You got to know your market. Don't just blindly invest because someone else is doing it. So knowing the market, if you don't have the full knowledge of the market, get it from somebody who is knowledgeable. Learn, knowledge is powerful. Do not invest blindly. So know the market.

Number three, be honest. This is a business. The investment is with money or also if you have a partner who is doing what. So you got to be honest with the people you're doing business with or the different resources you are using. You got to be super-duper honest, crystal clear.

Otherwise, you will not and I can guarantee you will not stick in this market as a successful investor.  Honesty is the best policy.

And number four, you got to understand the risk. You can take a calculative risk or know the risk on a fix and flip or rental property.

The trouble you may have from the tenant or in a fix and flip, you may have some unexpected repair comes up. So you have to understand because when you understand the risk, you will be prepared for that. So that's number four understanding the risk.

Hopefully this video, this information will help you become a super successful investor. Give me a call, if you have any questions. We do partnership with different individuals for fix and flip and different kinds of real estate investment. Give me a call. My name is Shawn Bhakta from the Remax Presidential South Florida Homefinder Team.  Glad to help.