Investors play a crucial role in the financial success and security of both businesses and individuals.
Without investors, becoming profitable can be incredibly difficult. As Co-Founder of Home Invest, Nate Armstrong has helped thousands of professionals and retirees manage their real estate investments. Although he has achieved worldwide success and shared his expertise with hundreds of students, his path to success was not always a smooth ride. For those looking to achieve success as an investor, here are his 3 tips.
Nate Armstrong’s Career
Before joining Home Invest, Nate Armstrong spent nearly four years at the Target Corporation working as an Operations Executive. As he was promoted, Nate ended up being one of the youngest executives to have a team within the Target Rialto Import Warehouse. His success with this company led him on the path to become the investment guru we see today.
In 2008 Armstrong realized his passion for real estate investing. As a Real Estate Agent at Keller Williams Integrity Realty, Armstrong helped investors find quality investment properties. His success in this position led him to become a Real Estate Mentor and Trainer, where he coached hundreds of students across North America on Real Estate Investing techniques.
- Financial Awareness
Whether you are investing with your own money or helping others invest, the first step is to fully analyze and comprehend your financial situation, says Nate. How much money can you comfortably afford to lose? You must acknowledge the fact that investing has risks and that you may lose money. If you are not relying on this money, you will be less likely to panic when investments fail. Since you do not want to invest only to regret it shortly after, you must view your investments as “off limits” at the beginning. Once you determine the current state of your financial situation, you may want to focus on creating saving and budgeting strategies. After you have taken care of your financial situation, it’s time to focus on the market. Research market trends, diverse investment opportunities, and tax efficient opportunities. Once you have the right knowledge, you can develop a customized plan.
- Learn From the Best
Education is the best investment, but it can be incredibly difficult to determine what advice to follow when there is so much out there. There are many great investors around the globe that love to share how they achieved success. From books and interviews to seminars and podcasts, educational content is readily available for future investors. Home Invest Nate Armstrong highly suggests doing your research to learn the strategies of the investors before us. Try out their tips and figure out what works for you, your company, and your clients. The internet is full of information, which can make it extremely difficult to determine which tips will lead to success. Weed out all of this by focusing on tips from successful investors.
- Become a Market Expert
In-depth market knowledge is essential for financial success. Start by reading up on the history of finance. Armstrong recommends “The Ascent of Money: A Financial History of the World” by Niall Ferguson. Start off with smaller investments in various areas so you can explore, observe, and compare. For real estate investors, Nate Armstrong states that becoming an expert in the local market is absolutely necessary. If you do not already live in the community you will be investing in, take time to explore. Drive around the neighborhood. Is it close to shopping, restaurants, attractions, or educational institutions? All of this can affect the pricing of real estate. In addition to environmental factors, understanding the social environment, such as the average salary of homeowners and local businesses that can help you improve the quality of your investments, is a great tool to help you market to potential buyers.