IN YOUR OPINION, WHAT MAKES A GOOD INVESTOR? #19
Bill Fairman (00:03):
Hi everyone. Thank you so much for joining us on the show. What makes a good investor? Oh, that is one of the questions that we are going to cover in today’s show. Do not forget that I would like for you please to share, to like. We have other archive videos and different sections above or below or next to our platform here, depending on where you are looking. One of the things we do at Carolina Capital Management is that we raise capital for investors in order for us to lend money in the Southeast. So, if you are a passive investor, thinking about putting some money into a fund, then you can get information at www.CarolinaHardMoney.com. Click on the investor tab and get all the information that you need. So, what makes a good real estate investor? Well, one of the things I love about the real estate industry and I have been in it 30 years, is that it is always changing and evolving.
Bill Fairman (01:08):
And how do you keep up with it when it is always changing and evolving? Well, you are constantly educating yourself. You are constantly in groups of networking like-minded people. They are kind of your insurance policy. Wendy and I are in several mastermind groups. Most of it is real estate-based, but some of it is just business-based because business is business. And just the only thing that is different is your services that you offer. But it is good to have that board of directors that are kind of stationed around the country, that are going to tell you the truth, not what you want to hear and to bounce ideas off of and what is working in their market and what is not working in their market. Because you know, we are in the Southeast and typically, if it is happening in New York and Miami and California, eventually it will move to our area.
Bill Fairman (02:12):
So, that allows us to stay on top of things and be proactive, instead of reactive. The other thing that makes a good investor is someone who does not buy on emotion. If you are buying a home to live in, then that is an emotional process. I mean, this is a place where you are going to raise your family. You know, you are going to have tons of memories. It is going to be a place that is comfortable for you. You know, back when I first started in the mortgage industry, when I was taking an application and I am listening to one of the partners talk about, you know, the curtains that they are going to put into this place. Well, I knew the house was sold before they even bought it. Because they are already imagining themselves in the house. So that is an emotional fix when you are in real estate. It is all about the numbers.
Bill Fairman (03:05):
It is about the cash flow. If you are buying it to hold, it is about the profit on the other end when you are doing a fix and flip. So you are buying it based on how much we can make on this. And then what the risk is if the market changes in the meantime. The smarter investors are not trying to hit a home run every time they are hitting, you know, doubles and singles. And you know, the story with the tortoise and the rabbit. It is much better to be the tortoise than it is to be the rabbit because over time if you can compare it to the stock market is like dollar cost averaging. You are always in, but you are not trying to hit a home run in each one. You are just trying to acquire more. Little by little and eventually, you know, you will meet that goal and if you exceed the goal, even better. Then you are going to end up with some legacy that you can leave to your heirs down the road.
Bill Fairman (04:08):
The whole point of real estate investing is having an income going into your retirement instead of getting to that magic number that the investment world has always said, you need to have a certain amount of money and then you need to make sure that you die before you run out of that money. And if you are in real estate and you are getting passive returns. Those passive returns continue well past your lifetime so you can leave legacy to others as well. Thanks again for joining us again. If you are interested in passive investing in the fund where we lend that or that fund to other real estate investors in the Southeast. Go to www.CarolinaHardMoney.com. Click on the investor tab. You get all that information. Do not forget to share. And like our broadcast. And again, we have some archives of other videos above, below, or to the side, depending on the platform that you are on. Have a wonderful day.