FINAL THOUGHTS
THE MOXIE TO INVEST
MOXIE: FORCE OF CHARACTER, DETERMINATION, OR NERVE
The Moxie to Invest
by Julie Ziglar Norman
nvesting in real estate is one thing. Building wealth by invest- ing in real estate is another. The first scenario is often a short term, one-off plan; the second represents a plan that has been well constructed and commit- ted to paper, which constitutes a goal. I
cause it is not the “norm” for turnkey rental investing. Of course, that does not have to be your strategy in your market. The important thing is to have the guts to demand the growth. Sometimes, growth can mean scaling upward, possibly from owning single-fam- ily rentals to also owning multifamily properties. There are some big benefits to be had with this strategy, including: • Property management may be con- solidated • Some investors find the accounting process much simpler Like any other growth-oriented strategy, multifamily investing is a big step that takes moxie. Have the strength of will to look at your own investment strategy, determine if you’ve reached a plateau, then go for the growth that is right for you! • • Maintenance may be easier and more affordably managed
have nearly always found that investing moxie I’m describing. You can tell by these hallmarks: • Rental owners are informed. They know what makes a market good for rental acquisition and which indicators will show it is time to sell for top dollar. • Rental owners have clear plans. In my experience, the most successful investors have a strategy that takes them from acquisition to exit rather than stalling in the middle. For ex- ample, rental investors with momen- tum know how they are going to get a good deal on a property, to what extent they’ll improve it, the (realis- tic) rents it will bring, how and when they will sell it, and what they will do with the cash flow in the meantime and the profits upon sale. And speaking of momentum… • Rental owners have the moxie to demand growth. In my market, that means buying one rental in the right area, then allowing it to appreciate for three to five years (in most cases), and selling when appreciation levels out so that you can buy two more cash-flowing rentals in another neighborhood. That takes moxie, be-
RECLAIM YOUR TIME. GROW YOUR BUSINESS. Eliminate the stress of daily landlord responsibilities and focus on what matters most –– growing your REI portfolio!
SET A GOAL FOR YOUR REAL ESTATE INVEST- ING, THEN HAVE THE MOXIE TO PURSUE IT!
Part of pursuing your investment goals is understanding what achieving them will truly require. Often, you are far clos- er than you think. For example, when individuals ask how to get started with turnkey real estate investments, many are surprised that the money needed to secure the investment may be far less than they had imagined. Then they kick themselves for not starting sooner. You certainly want to be educat- ed about your investment strategy of choice, but do not spend so much time getting ready to invest that you never actually act. It would be a shame to put in all that work and never have invest- ment property to show for it. Here’s an example of how wise mox- ie has worked in my experience: When I’m not speaking for Ziglar Inc., I work closely with rental property investors. I’ve noticed rental owners
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Julie Ziglar Norman is a realtor with Prime Properties Realty. She believes in “Investing Simplified,” and may be reached at 817-233-8444 or julie@pprtx.com.
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114 | think realty magazine :: march 2018
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