Published by Forbes.com | November 6, 2024
From building relationships to managing properties, being consistent can be the key differentiator that sets successful investors apart from the rest.
Investing in real estate is a long-term game and you’ll increase your chances of outperforming the market if you have consistency. While it’s easy to be excited about quick transactions, the truth is that sustained success in real estate is often the result of methodical, disciplined actions over time. From building relationships to managing properties, being consistent can be the key differentiator that sets successful investors apart from the rest.
Consider the following benefits you’ll gain from practicing this trait as you move forward with real estate investing.
You’ll Build Strong Relationships
Whether you’re working with brokers, tenants, contractors, or partners, consistency in how you approach and maintain these relationships will directly impact your success. On my podcast, “The Insider’s Edge to Real Estate Investing,” George Giannopoulos and Jeffrey Znaty, co-founders of Kings Capital, emphasized that maintaining communication with brokers and other key players is one of the main reasons they’ve been able to access off-market deals and grow their portfolio. In their experience, brokers and partners are more likely to trust and collaborate with someone they know will follow through on their commitments and stay engaged over time.
Routine Creates a Solid Foundation
Investors often point to having daily routines as the foundation of their long-term success. You might build a routine that includes physical exercise, mental preparation, and planning the day ahead. You can also prioritize your time and focus on tasks that provide the most value for your business. Setting up systems and processes can also help you streamline your tasks.
Follow-Up Unlocks Opportunities
Many opportunities in real estate are missed not because of a lack of deals, but rather a failure to stay persistent. By staying in touch with brokers and property owners over time, you can continually spot opportunities and move when the time is right. After carrying out one successful deal, you could make connections, build momentum, and further grow your portfolio.
