Sometimes, to become a successful businessman or woman, the difference may just be asking those already successful. After all, who better to learn from than those who have already experienced and passed through what you are about to?
And this is where a real estate guru like Winston Deloney comes in. Winston Deloney is a Chicago-based real estate investor with years of real estate investment experience and portfolio management.
As an entrepreneur and real estate investor, he has been featured on several popular stages for his expertise in real estate investing. What he believes is that you must have a clear vision which he places above unlimited resources.
In this post, you will see how Winston Deloney uses real estate investing challenges to his advantages.
Real estate is a fast-evolving and profitable market that can serve as a real or passive form of income. It is arguably one of the most lucrative and reliable means of investment and wealth creation. But all these perks are not without challenges.
As you may well know, there are certain common challenges in the real estate market. But unlike other investors, Winston did not just strive to overcome these challenges but also used the same challenges to his advantage.
So how was Winston Deloney able to do this successfully?
The Money Challenge: Winston believes that one of the major challenges a real estate investor could face is being short on funds. He believes it is not a strange situation, especially for a new real estate investor.
Not having enough capital can be a real deal-breaker for successful investments. So, to change the odds in your favour, Winston advises that you can do what he did.
Reinvest your profits to acquire rental properties, which are crucial in establishing long-term wealth. To him, several tools help you market your rental property in this digital age.
Or you could even learn how to make the best use of debt financing instruments to your advantage. After all, the richest investors in the world today still leverage loans to make more money. Lastly, you should have an arsenal – some emergency savings so that you are not caught off-guard.
Time Management Challenge: Another major challenge of real estate investing is time management, as it is a time-consuming venture, especially when priorities are not set. So, what Winston does and recommends is that your form a routine or to-do list to help you manage your time and reduce frivolities.
This will keep you on your game to beat the competition and make a lasting name for yourself.
Confidence Challenge: Winston views confidence as a game-changer in the world of real estate investment. And he even thinks it is a largely underrated quality.
After all, you are selling business and investment opportunities – and you cannot successfully do that if you lack confidence. He sees lack of confidence as the beginning of poor investment decisions. And the best way around it is to garner relevant knowledge on real estate investing – not just real estate.
Finally, real estate investing can provide you with a positive cash flow and sustainable ROI. But first, you must scale through the main challenges that come with such a profitable venture. And like Winston Deloney, use them to your advantage.