a better chance succeeding as an active investor. You may also want to consider working with a partner who can help with things you don’t enjoy and aren’t good at, or maybe hire those tasks out. For example, if you really don’t like accounting, outsource those tasks to a bookkeeper. Real estate investing is a powerful investing vehicle. But at the end of the day, it’s a tool. You get to decide how you use that tool to craft the life you want to live. Take an hour or two to answer the questions raised here. If you have a spouse or partner, do the exercise with them too. Make sure to have an open and honest conversation about their answers to these questions as well. Understand they may not have the same answers—and that is completely OK. Nothing is worse than choosing a path and then realiz- ing your partner isn’t on that same journey with you. You can create your own ideal investment lifestyle by design. Find the direction you want to go—and focus 100% on getting there. • Arianne Lemire is a former speech language pathologist turned real estate investor who has rehabbed and wholesaled more than 500 single-family properties. She has ownership in more than 2,000 multifamily rental units in the southeast with partner investors. Her financial freedom has allowed her to travel several months a year to spend time with friends and family. During her travels, she realized she wanted to share that freedomwith others. As a result, she launched WealthGym, a community that helps busy professionals create time and financial freedom so they can retire within a few years. Lemire spends her free time at her “Ask Arianne” YouTube channel, where she creates free educational videos on money, investing, and real estate to inspire others to achieve financial freedom early. You can reach Arianne at www.wealthgym.com, www.youtube.com/AskArianne, or https://www.instagram.com/theariannelemire.
active real estate investing skills you need to be an active investor or whether you would rather be a passive investor. There is no right or wrong answer. And your answer can change depending upon your season of life. You can always switch later. It’s important to do what you really want versus what you think you must do. NO. 4 WHAT SKILLS DO I ALREADY HAVE THAT I CAN USE IN REAL ESTATE INVESTING? If you do want to be a more active investor, ask yourself: • In a work setting, what are you good at? • What do you enjoy doing? Often the things you enjoy are also what you’re good at. There are many niches in real estate investing. Being able to narrow down what you already enjoy and are good at helps your transition to becoming an active investor go more smoothly. For example, maybe you are good at talking to people and at making deals happen. If that’s the case, finding deals and seeing them through might be where you should focus. As with any career or work situation, there will be parts of investing you don’t enjoy or maybe you’re not the best at. But if you get positive reinforcement from what you do enjoy and are good at, you’ll have
keep you from starting. The best time to start was 10 years ago. The next best time is today. NO. 3 HOW MUCH TIME DO I WANT TO ALLOCATE TOWARD REAL ESTATE INVESTING? If you just love the idea of analyzing dozens of deals, submitting offers, dealing with the financing documents, and then creating a great community for residents or unforgettable memo- ries for guests, then active real estate investing may be for you. But not every investor is interested in being such an active investor. Maybe you have another field you’re passionate about, or perhaps right now is the season to focus on your family or yourself. Whatever reason, it’s OK. You don’t have to be an active real estate investor to be successful. Even if you choose not to be an active investor, you’ll have lots of opportunities to make just as much, or even much more, as you would had you invested and managed everything yourself. By partnering with others who have created active real estate businesses, you often can leverage their knowl- edge, connections, and systems and resources to make great returns—for you and your partner. The beauty is you invest your capital and see cashflow increase—but they do the work. So, ask yourself whether you want to spend extra time learning the
70 | think realty magazine :: may – june 2022
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