Every investor gets into real estate for his own unique, rather idiosyncratic set of reasons, but the common denominator among us all is to improve our quality of life.  Many (especially young) investors make the mistake of thinking that the best way to improve their quality of life is to knock out as many deals as they possibly can, generating as much income as they can scrape from the community, and establishing a name for themselves as the most dominant force in local real estate.  Well, all of those things are great for a career, but not necessarily for a human being.  Rather than jumping to throw your money at every little deal you come across, devote your energy and attention to finding the real superb deals (not just by the numbers, but also considering what it is you are looking to get from your investment).  The best deals are the ones which not only generate good income, but also allow the investor to pursue the facets of real estate and life which he sees as fit.

      One of the most beautiful benefits of a career in real estate investing is the freedom which it allows.  If you play your cards right, you can generate the same income working 10 hours per week as you can working 50 hours, and you can do it anytime from anywhere in the world.  Too many investors lose sight of this, and are limited by the constant nagging nature of their quest for deals and more deals.  They end up rooted to their hometown, working furiously day-in and day-out… almost like a regular 9-5 office job—heaven forbid!! 

      Cater your deals to your needs and goals, and you will be in a much better place.  If you need to generate money immediately, don’t waste your time on even the best deals for rental properties.  Stick to your plan, even if the other offers are enticing.  If you follow every lead and snatch every deal, you will end up being pulled in myriad directions which, if not managed carefully, are bound to steer your career in a different direction.  Similarly, if you got into investing so you don’t have to work all the time, then you need to divert your efforts to finding a good enough deal that will allow you to generate substantial income, but which is not as hands-on as, say, a rehab or a property management investment.  Remember your goals when looking for deals, stick to them, and you will find yourself achieving them much faster (and probably with less work). 

Tells us what you think. J 

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