What is the most important thing in investing in real estate or real estate notes? Some might say the most important thing is the price you pay for the real estate or the note. Some say you make your money when you buy the property or the note. Others might say that the most important thing as a real estate or note investor is the asset itself. The asset is the property or the real estate note. Some say that the 3 most important things in real estate are location, location, and location. A note investor might say that the most important thing are the terms of the real estate note and whether the note meets note industry standards. Finally, some might say that the most important thing in investing in real estate or real estate notes is due diligence. Due diligence involves a number of things to check out and verify. If you are investing in a real estate note, you certainly want to see a payment history and see if there are any liens and judgments on the property. If you are investing in real estate, you will want to be sure there are no clouds on the property title and whether the taxes are paid up to date.
All of the things I mention above are important in investing in real estate or real estate notes. However, remember I said what was the most important thing. I THINK THE MOST IMPORTANT THING IS THE MINDSET OF THE REAL ESTATE OR NOTE INVESTOR.
Below are some important questions to ask yourself to see what is your mindset as a real estate or note investor:
- What messages are you telling yourself? Do you approach investing with a confident attitude or with a defeated mindset?
- What are you reading and what are you listening to? Are you listening to podcasts, videos, etc. that are positive and educational? Are you reading books or blog posts that build up real estate or note investing or bash it?
- What kind of support system do you have? Do you talk to and hang out with people that educate you and encourage you? Are you a part of a mastermind group or meet up group of like minded persons?
Again I repeat. The most important thing for a real estate investor or a note investor is their mindset. Perhaps it is time to change your mind and mindset. Best wishes in your continuing real estate success.- R.L. Wall