Though he now has more than twenty years of experience as a real estate developer and investor, focusing primarily on commercial properties, Michael T Haas still remembers just how difficult it was to develop a reputation in the industry and how hard it can be to make sound choices in regards to investments. These pointers should help any new investors decide how best to make use of their money.
Jumping straight into large-scale commercial opportunities may seem like a good idea, due to the fact that they often offer greater rewards should success be achieved, but the associated workload may be too much for those who are just getting started with the industry. Instead, try starting small by investing in a residential property, so that you can get a basic idea for the processes you will need to have in place for larger projects.
The people that you meet are often going to have a big influence on your professional development and direction. More experienced investors will be able to offer you advice in addition to potentially presenting you with opportunities. Be respectful to everybody that you meet and take advantage of any opportunity that you have to learn.
While it is important to have a passion for what you are doing, Michael T Haas notes that this should not cloud your judgment when selecting investments. Don’t let emotion get in the way of your business and make sure that you approach every decision that you make logically, having carried out extensive prior research.