Most casino games are in fixed rule environments – there are set inputs and outputs.And the rules themselves are skewed to the Casino.Because there are only so many results that occur from blackjack or craps for example, you can only win by devising a strategy based on probability and betting theory.Without the strategy,it’s just expensive entertainment.Even with the strategy,you will be lucky to break even https://fokus777a.com/.
There are parts of Real Estate Investing that are even riskier than a night in Vegas.After all,you can lose more than you bet.If you have to foreclose on a house or pay back taxes,or several other unforeseen events, you’ll be out more than you invest.This is because Real Estate is not a fixed input/output system.There are a tremendous number of different things that can occur in a Real Estate Investment.
But unlike those casinos, you can use the “rules” to actually help you win more than you lose.
Remember,you have a very strong level of control over the performance of your investment,especially if you focus on the Cash Flow benefits of a property.While you can’t change the market and you can’t change (or very rarely) the available team,you can change the rehab level,tenant selection criteria,rents,marketing,tenant management, etc, etc.This control creates a level of safety and wealth if applied correctly.
If you research the right metro areas with the right fundamentals and if you research and find the best teams (acquisition,rehab,management,legal), you will have significantly decreased your risk.Research trumps probability mainly because a good property in a bad area is still doomed,but a bad property in a good area can do pretty well.
An investor who remembers and applies this concept will take gambling and all of its risks out of the picture.While gamblers will look to score on an investment with little or no research about the market or CATP, an investor will focus on cash flow, and sound market research – only working in the best markets to get the best results.
Real estate is historically and will continue to be the greatest wealth builder available as long as you approach it with the right mindset – as an investor.Once you stop thinking like a gambler and start thinking like an investor you will be making better decisions and getting better results!