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I’ve had a lot of messages lately saying “I’m interested in real estate.”
Before investing in anything, I suggest getting crystal clear on two things:
(i) Your goals — Why are you interested?
(ii) You level of risk tolerance — Does risk terrify you? Or are you willing to stare it in the face?
(iii) Your desired level of involvement — Do you want to be completely hands-off? Are you ok getting your hands a little dirty? A lot dirty?
My husband and I had not planned to have our AirBnB. We are both risk averse. We were looking for a property that:
(i) was closer to family so we could meet midway
(ii) serve as a hub for my husband’s photography and meditation retreats
(iii) serve as a weekend respite from a busy week
From there it turned into an AirBnB. Though this was not our original plan.
Once you are clear on your goals, your acceptable risk levels and level of involvement desired, then we can review the various types of real estate investments.
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