In order to answer this question you first need to start with your why. If you haven’t figured what your “Why” is, check you my post “What is your Why” or watch Simon Sinek TED talk “Start with Why”.
Simon Sinek TED Talk “Start with Why”
In short there are two things that make a good/best real estate investment.
- Does this investment help you meet your why and/or goals?
- Did you pull the trigger/ get the deal?
Does this investment help you meet your why?
Why did you get into real estate? Was it because you want better returns than what your stocks were giving you? Was it because you wanted to eventually replace your current income with passive income? The list can go on an on, but if this investment your are looking at that helps you meet your “WHY” than for you this is the best real estate investment.
One investment might be the “Best” for one investor, but not for another. That is because their “WHY’s” are different, they have different goals.
Did you pull the trigger and get the deal?
If you never purchase that “Best” investment it means nothing. For example my goal is to purchase fix and flips or do BRRR’s to help me finance/purchase my buy and hold properties. Over this last weekend I found a great fix and flip with the potential to make a lot of money. I submitted a offer and they countered and it was a reasonable counter looking back on it (considering the money that could be made on it). Instead of accepting the offer I counter and tried to get 5k more on the deal. Well, because I countered someone came in and offered all cash and a snagged up the property.
Right then and there that property instantly didn’t become the “Best” property for me, because it was no longer to be had. I learned don’t get greedy, if the numbers are there and it is going to help me meet my “WHY” pull the trigger.
In short one deal might be the best real estate investment for you, but not for somebody else. It all comes down to your “WHY” and your goals. Once you determined those you can determine your ideal real estate investment, real estate investment strategy, and start searching. Good Luck!
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