Sit in the driver's seat of your investment
This week, we'll look at how, in real estate, you have a tremendous amount of control over your investment. Unlike in other investment classes, in real estate you play a starring role in your investment's success.
Reason #2 to Invest in Real Estate - Control
When you invest your money in a stock or a company, you have little say or impact on the success and value of that investment. In most cases, you give the business your money and then stand by, watching and waiting to see if it succeeds. If you want to personally increase the value of the company, there's really not a lot you can do. If it starts to fail, there's not a lot you can do besides sell your share. Basically, you're in the passenger seat.
In real estate, on the other hand, you are in the driver's seat. If I buy a piece of real estate, I can personally increase its value. I have the power to make changes to the physical building, market it with increased signage, make improvements to the landscape, or bring in better management. The possibilities are endless. There's a lot I can do and it's all within my control.
Fear of control
There are a lot of people who are afraid of having that much control over their investment. For starters, it's a lot of work. If you want to improve your investment, you have to do the work and make the arrangements, which can take a lot of time and effort.
And if your investment fails, the only person you have to blame is yourself. That can be a lot of pressure, and that fear of failing stops a lot of people from investing in real estate, despite how lucrative it can be.
Some people might even prefer handing their money over to others to invest it for them, taking themselves out of the driver's seat by choice.
Be in control of your money
Leaving your money to chance is not a solid financial plan. At the end of the day, don't you want to be in the driver's seat when it comes to your money and your future?