FREE QUIZ: What Kind of Real Estate Investor Are You?

Quiz Questions

• 1.
  How much extra time do you have in your schedule?

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  • A.
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    You are always running to the next meeting
  • B.
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    You make time for big ideas
  • C.
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    You enjoy lots of chill time 
  • D.
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    You never  mind spending  time helping someone
  • E.
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    You have time because you don't overschedule
• 2.
  What way of earning money is most satisfying to you?

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  • A.
    Hard and challenging with massive upside
  • B.
    No work, but still collecting decent money over time
  • C.
    Fast-paced and high stress earning quick injections of cash
  • D.
    Steady money over time with little stress
  • E.
    Big money involving lots of moving parts and your personal touch
• 3.
  How big of a risk taker are you?

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  • A.
    Bring it on!  The bigger the better!!
  • B.
    I'm ok growing wealth over time as long as I can sleep at night
  • C.
    I can take high risk but in small bite sizes
  • D.
    I like high returns enough to take chances as long as I am in control and don't have to rely on others
  • E.
    Low risk, solid but over a longer period of time with no one in my business
• 4.
  You can live in any of these homes, which  will you choose?

  • A.
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     beach house
  • B.
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    large and luxurious 
  • C.
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    cozy and modest
  • D.
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    comfortable and spacious
  • E.
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    inexpensive to create more savings
• 5.
  Do you trust others to work in your business?

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  • A.
    It is easy for me to have a big team and rely on many others for my success
  • B.
    I trust others to do the work and don't want to be involved in the details as long as the money is rolling in
  • C.
    I enjoy employing and overseeing lots of people doing various tasks where I may not have as much control at all times
  • D.
    I can handle a moderate amount of people around as long as I can make it fairly easy to manage them and the processes
  • E.
    I like to work alone. I will take less profit potentially as long as I am in charge

Quiz Outcomes

• 1.
  You should be a passive investor

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  You are someone who has a super busy schedule. The last thing you want to do in the evenings or on your time off is to find a Real Estate deal. The great news is that you can earn 7-15% plus annualized by investing in Mobile Home Parks, Storage Units, Multi-Family, or retail opportunities. The most important factor in this equation is to trust the sponsor putting together the deal and managing it. If you want the best questions to ask when vetting a sponsor, e-mail us for a free PDF. Otherwise, we would be happy to share resources and get you connected to opportunities if you reach out to us at hello@wealthwarriorwoman.com. Remember to always do your due diligence by checking numbers and references. Operators for these deals are located across the country. Especially in states where the population is growing such as Texas, Georgia, Arizona, and Florida.
• 2.
  You should invest in large apartments buildings, mobile home parks, retail centers, or storage units

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  You are an ambitious visionary and should aim high because you can!Why settle for one house when you can have 1000? You like to dream big, love a challenge, and are ready t o do the work. You want an empire,be the owner of a large company, and have your name on buildings. You'll dive into a niche like multi-family, storage units, retail. or storage units. You will hire the best coaches that teach you step by step and make the deals happen! You are never afraid to invest in yourself or your vision and are always ready to do the work. Places you will look at to invest will be ripe with opportunity. You go where people are moving so there is a demand for your places. Check out Florida, Texas, Arizona, and Georgia. Because you are innovative, you may look at emmerging markets like North and South Carolina. Nothing is off limits. It is about knowing your numbers and the demographics. If you need more suggestions of direction to get started, feel free to reach out.
• 3.
  You should invest in Airbnb or Furnished rentals. 

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  You love details and hospitality and people are willing to pay you for it.One of the most profitable ways investors are making a bundle these days is through furnished rentals. This model is done through Airbnb or with temporary 30 day plus furnished housing. When you have a tenant stay over 30 days, you also get around the short term rental restrictions in various cities. You need to check the rules as the city can shut down your rental. Austin, Los Angeles, and New York are three cities that require you to live in the homes and only rent out ADU's. (Additional dwelling units) You also need to apply for permits in various counties. If you are in a non restricted area, know that the rules can change, so make sure you can cover the payment with a long term tenant.Now, onto the good stuff! You can make $1000's every month through short term rentals. A friend who owns only seven homes just told me she grossed $100K in one month! You can also be incredibly creative with decor and make a memorable experience for your guests. You can even convert a hotel into short term stay apartments! The possibilites are endless. If you are worried about the communication with tenants, many details can now be automated with apps or you can hire a manager. Once you figure out if it is legal to do an Airbnb in an area you like, think about who would want to rent there and why they would be coming to the area. Is the rental by the beach or mountains for a vacation or is it close to a hospital or university where it would attract nurses or professors? Also, check AirDNA and Airbnb to see what sort of rates you can expect to get. There are many sites for longer term furnished rentals like www.furnishedrentals.com or www.hellolanding.com.If you need support with this strategy or help with management, reach out to us for support!
• 4.
  You should buy 1-4 units and rent for long term and hold them.

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  You want minimum stress while you grow your wealth.You are smart and ambitous, but you are not in a huge rush and you are willing to let time do the work. You want to implement a buy & hold strategy for 1-4 units. This is a simple way to get solid returns where you can easily operate most of the property managment and leg work on your own. You like to keep things simple and don't like the complexities of partners. If you buy ten properties today and get long term renters, you just collect money every month while the mortgage goes down, values appreciate, and rents raise annually. It is a rinse and repeat process that isn't very complex and in almost any economy if you buy at the right price, the numbers work! This is a great strategy if you don't have a ton of money because you can buy properties in areas of Texas, Ohio, Florida, and Georgia that many can still afford. You can implement this strategy and cash flow, menaing have money left over after all the expenses are paid that you can put into your pocket every month. Stay away from over populated cities that are very expensive like Austin, Los Angeles, or Boston. These areas will make you money as prices increase, but they are priced so high it is challenging to cover all the expenses with rent. It can feel overwhelming with so many options and places to buy. We love supporting investors on their journey.Find out more about how we can support you here.
• 5.
  You should be a flipper, wholesaler, or do the BRRR method. (Buy, rehab, renovate, and repeat.)

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  You like the chase and the big win. You like to fast results and you like to mix it up so you never get bored. Every rehab is different and usually lasts no more than six months. You can take your profit and move onto the next project. For wholesaling, you find the deal and then sell if to a flipper for a quick $10-30K profit within days with no money out of pocket. The BRRR Method allows you to buy a distressed property, rehab it, and then take the profit out in a refinance from the bank. You keep the property and rent it out. You are building assets by collecting properties and making money on the rehab. This is more challenging to do these days as inventory is low and prices are high. That will not stop you. Continue to talk to realtors, send lettters out directly to home owners with offers to buy their homes and keep hunting for the deal. These models are scalable! People make millions using one or all of these strategies.You can flip, wholesale, or do the BRRR method in any market as long as the numbers work. If you are starting out with a lower budget, you can look at areas in Ohio, Tenessee, Indianapolis, and Kansas. If you go out of state, you will need to have a team you trust in place. Also, you need to prepare for unforseen variables when you are rehabbing a property or with any real estate investment. Always leave 10-20% for reserves.There are lots of moving parts here, that is why we offer support! To learn more about The Real Deal Formula Mastermind, click below.