Nick Statman- The Top 5 Traits of Successful Property Investors

Property Expert Nick Statman shares about The Top 5 Traits of Successful Property Investors- Property investors are go-getters. They are visionaries that appreciate the freedom and flexibility that comes from being their own boss. Some property investors start investing at a young age and find monumental success before they’re thirty. Others work a traditional nine-to-five for 30 years and then slowly venture into the property investing world one buy-to-let at a time. And while property investors come from all different walks of life, they all have these five traits in common:

Nick Statman Nicholas Statman Traits

Hungry for knowledge

Education is power in the world of property investing. Successful property investors are always looking to learn more about the local market and current property trends, and are regularly looking for opportunities to learn more about the industry. They seek out mentors who can help them learn the ropes, they read everything that they can get their hands-on, and they listen to top property investing podcasts whenever they get the chance. They understand that the more they know, the better they’ll be at their jobs. Start by taking the time to develop a basic estimation for renovation costs, researching different economic factors that drive a particular market, and honing in on your ability to recognize an undervalued property and see its potential. 

When you know better, you do better. 

Disciplined

One of the most significant advantages of investing in property is that it is something that you can do on your own time. You can be your own boss, make your own schedule, and work as hard or as often as you want. But having this freedom also comes with responsibility. Successful property investors are disciplined and know that sometimes they have to put in extra time or extra effort to be successful. Being disciplined also means knowing when to say no to something so that you can say yes to something else. It means setting a budget and sticking with it, honoring your commitments, and putting effort into setting short term and long term goals and doing whatever it takes to reach them. Self-discipline means doing what needs to be done, even if nobody is telling you to.

Creative

Top property investors think outside of the box. They look at every aspect of their investment, from the marketing to the renovations, through a creative lens. The best property investors understand the value of using traditional investment strategies but also know there is power in doing things a little differently. This could look like getting creative in terms of financing, marketing, and even renovations. Creativity helps property investors see things in a way others don’t. 

Expert Communicator 

Property investors are always in the middle of a conversation with someone. Whether it’s an email exchange with a contractor or a phone call with a tenant, property investors are always thinking, listening, and communicating. The best of the best have mastered the interpersonal skills that help them network, build relationships, and establish trust. They listen carefully to what others are saying, they are intentional about transparency and clarity, and they’re honest. Communication is a critical part of a successful investment strategy because you can’t do it on your own. You need the help of other industry professionals to get the job done. 

Investors that let out their property have an obligation to their tenants to communicate honestly, with clarity, and promptly. Tenants who feel heard and have an open line of communication with their landlords are typically happier, treat the property better, and stay put longer than those who struggle to communicate with their landlord. It is always in a property investor’s best interest to consistently work toward being a better communicator. 

Patient

While property investing can be a fast-paced strategy, there are also times when things slow down. Work may not always get done as quickly as you’d like, homes may not sell as fast as you want, and approval, signatures and other formalities can (and will) test your patience. But top property investors not only have exceptional time management skills, they also know the power in patience. They’ve experienced what happens when you try to rush a job or jump into something too fast, which has taught them to wait, analyze, and wait some more. 

The Takeaway

Your property investment journey is as unique as you are. Your reasons and strategies for investing are specific to your story and your experience, and you will bring your strengths and abilities to the table in a way that nobody else can. If you want to be a top-performing property investor, you must be your authentic self. But you also must focus on your patience, your communication skills, your creativity, self-discipline, and quest for knowledge to truly stand out in the industry. 

Spread the love
Nicholas ‘Nick’ Statman entered the property industry in 2001 and set up a property buying company that quickly established itself as one of the biggest in the sector. During this time the Company successfully transacted on thousands of residential properties across the UK. Nicholas Statman was an early pioneer of the ‘quick sale’ niche market which has since grown considerably with a multitude of companies now operating in the sector. Nicholas Statman has strategically built a sizeable residential and commercial property portfolio with a view to holding for optimum capital growth and a long term passive income. Nicholas Statman has been involved in almost every aspect of the property sector over a 20 year period – this includes buying and selling, development, letting and management and is now involved in the fast growing online/ hybrid Estate Agent industry.

Latest articles

Fund childcare to allow more moms to join workforce,...

Please try another search Economy1 hour ago (Oct 15, 2021 04:52PM ET) 2/2 © Reuters. U.S. President Joe Biden arrives at Bradley International Airport in Windsor Locks, Connecticut, U.S., October 15, 2021. REUTERS/Leah Millis 2/2 By Jeff Mason HARTFORD (Reuters) - U.S. President Joe Biden touted a crucial part of his economic plan, funding for…

Head of largest California union arrested on charges of...

Please try another search Economy3 hours ago (Oct 15, 2021 02:50PM ET) SAN FRANCISCO (Reuters) - The head of California's largest union was arrested on Friday, a day after the prominent activist was charged with grand theft and tax fraud. Alma Hernandez, the executive director of SEIU California, and her husband Jose Moscoso were charged…

Spanish bank Sabadell to cut up to 1,605 jobs,...

Please try another search Economy39 minutes ago (Oct 15, 2021 05:17PM ET) © Reuters. FILE PHOTO: People walk at the door of a Sabadell bank office in Barcelona, Spain, September 7, 2021. REUTERS/Albert Gea/File Photo MADRID (Reuters) -Spanish bank Sabadell has reached a deal on Friday with a leading union to lay off up to…

North Korea Blasts ‘Squid Game’, Says It Depicts Capitalist...

The No. 1 rule of North Korea is, “Don’t be the first one to stop clapping.” Exception: Unless the subject is South Korea’s smash hit show Squid Game. While the dystopian Squid Game is the No. 1 show on Netflix in 90 countries, its not a big hit in North Korea...

Similar articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Subscribe to our newsletter

Spread the love