EP126: Are You a Hands-On or a Hands-Off Investor?
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My mission is to make real estate investing passive, and that’s the whole point of turnkey real estate. Doing so provides enormous benefits, but requires the investor to be hands-off. For some people, it can be hard to relinquish control and trust the process.
On this episode of Investing in Real Estate, I’m asking you to be honest with yourself and decide what kind of investor you want to be. I’ll discuss why it’s important to be a hands-off turnkey investor, and I’ll also share some areas in which you can be hands on.
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I always advise new investors to think about the kind of lifestyle they want to live. Are you getting into real estate investing as a job? Or are you trying to create passive income and more time for yourself? There’s no right or wrong answer, but you need to be honest with yourself.
Do you want to pick out paint colors? Do you want to manage the rehab process from start to finish? If you enjoy those tasks, then turnkey investing is not for you. If you can’t let go of those small details, you’ll probably want to be hands-on with property management too.
Part of turnkey investing is letting go. It’s supposed to be passive! Your job as the investor is to trust the process, put your faith in the team, and then sit back and collect the rent checks.
On today’s show, I’ll talk more about deciding what kind of investor you want to be. I’ll also give four key areas where all investors should be hands-on. Don’t miss episode 126 of Investing in Real Estate!
If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.
On this episode you’ll learn:
- How often should you check in with your property management team?
- What is the importance of checking your monthly statements?
- Should you ask questions about your rental property?
- How can you decide if turnkey investing is right for you
- And much more!