Being a real estate investor means you wear several hats. You run a business and work hard to make it successful. Sometimes you shuffle paperwork and other times you prospect. You’re a marketer, a salesperson, and a diplomat.
For your clients, you’re also a problem solver.
You play an important role in the deal-making process. Your job is to discover the problems your clients are burdened with and determine how you can help solve them.
This is why it’s important to become good at something. Once you excel at solving specific problems your clients will refer you to everyone they know.
What types of problems can you solve? There are several.
In order to be the best problem solver, it’s important for you to determine your target market so you’ll be able to identify the kinds of deals you’re best suited for.
In some cases, you’re a connector. You facilitate deals between motivated sellers and eager buyers. Other times you’re able to put quick cash into the hands of sellers who can really use the money.
Some sellers don’t have the time or resources to bring their properties up to code to sell at a higher price. You can solve their problems by helping to sell or purchasing the properties and taking the responsibility off their shoulders.
In order to be the best problem solver, it’s important for you to determine your target market so you’ll be able to identify the kinds of deals you’re best suited for. That doesn’t mean your focus won’t change with a little experience.
You might decide you like one aspect of the industry over another. But you have to begin somewhere. Know what you’re looking for so you can focus your efforts and promote your business to your ideal clients.
Invest time in your education. Keep learning and growing. Be aware that regardless of the market you target, deals will not be immediately obvious. Every opportunity you come across is worthless without a fair amount of investigative work to verify its value. You’re in business to make money. Once you know what to look for, you can easily spot problems that need solving and also have the potential to generate income.