Why do you invest in real estate? The number one answer is money – and rightly so! Investing is all about turning some money into more money, so that we have enough for all the things we need and desire. However, while money might be the driving force behind what we do, the serendipity of real estate investing is the impact we have on our communities. That impact can be positive or negative, it depends on you. Living intentionally, you can ensure that your impact will be worth telling your grandkids about. Here are three factors to consider as you build your real estate portfolio:
- Putting others to work
In the business of real estate, in whatever form, whether it be house flipping, rental properties or commercial deals, there are going to be dozens of service providers and contractors that contribute to your success. Finding good people to work with is a blessing to you and to them. Work is good for people. When you help someone economically, you impact them more than you know. Your money helps to put food on their tables, but it also contributes to their dignity and self-worth. Not every interaction is going to be positive (heavens, no!), but cherish the ones that are and seek out good people to bless with the work you have to offer. Treat people well and they will want to work with you again and again.
- Promoting integrity and goodwill within the industry
Real estate investors are not always thought of in the best light. Unfortunately, there are some bad apples out there. DON’T BE ONE OF THEM! Sit down and write out your mission statement as a real estate investor. Really think about your WHY and make integrity your guiding principal. This will help when you have to make a tough ethical decision that might affect your bottom line. Doing the right thing feels good and will eventually return to you in the form of a positive result in some area of your life. Also, integrity is much easier when you believe there are enough deals out there for everyone. Instead of seeing others as your competition, think of them as allies. We can all learn a lot from each other, so keep an open mind and an open heart.
- Giving out of the overflow
This is where it really gets good. After you have provided for your own needs, you will have the ability to give out of your overflow. I’m guessing you can think of a few good causes that could use some money. People in your family are going to fall on hard times. Don’t you want to be in a position to help? Being a wise investor is not just a business, it is a moral obligation. If you have the ambition to be a little above-average, it’s not just for your own benefit. You will be given the opportunity to pay-it-forward in numerous ways. It feels good to turn a profit, but your money will never say, “I love you,” or “thank you.” Those words only come from the people whom you impact positively.
These are three ways that you can have a positive impact as a real estate investor. If you need help getting started, check out the John Fisher Breakfast club and our Invest Success Mentorship Program. If you are already a seasoned veteran, visit the club and tell your friends! Help us to promote a positive culture in the Denver community of real estate investors.