Is your investment portfolio lacking in flavor? Have you been doing the same old, same old and your routine is starting to feel a bit bland? Hipster gets that.Real estate investing is half sport, half serious business, half fun – and there are as many types of investment deals to engage in as there are spices.
As you probably already know, we love to add turnkeys to everything! They spice things up. They keep your portfolio focused on an essential: cash-flow. When you’re cooking up your long-term financial picture, we think it never hurts to throw in as many turnkeys as you can.
Two Kinds of Chefs
There are chefs who slave over every detail of their craft. Their reductions take hours, their roasts take weeks of planning and selecting every single perfect ingredient. It’s a fine art – and it’s not something most people can replicate. Then, there’s the rest of us. You know: the ones who need spices to add some great flavor to our dishes. A little salt here, a little pepper there and YUM. In real estate investing, you can invest two ways: you can actively create amazing deals by devoting years of learning the trade and then finding the best ones or you can invest in turnkeys that bring you the cash-flow you want without all that hassle. Both ways work, so it really depends: what kind of cook, and what kind of investor, are you?
Two Kinds of Kitchens
What kind of kitchen do you have? Some of us have what are called “Chef’s” kitchens. These are kitchens that are outfitted with all the details: grills, reach-in refrigerators, double-drawer dishwashers, microwaves, fine chef’s knives, convection ovens, stainless steel everything. Some of us have more basic set-ups – a stove, a refrigerator, a dishwasher and a sink. For the chef who has a world of tools at their fingertips, creating an amazing meal from scratch is easier. For the chef who has a normal kitchen, it doesn’t always make sense to create an 8-course dinner from scratch, does it? In real estate investing, some of us have endless time and resources. Those investors who happen to be contractors, years of experience managing tenants and can make investing a full-time job have more of a chef’s kitchen setup. Those of us who need to use the services of vendors and/or who work a 9-5 have a different set-up. For us, it just makes sense to go spice things up with turnkeys.
Two Kinds of Grocery Markets
There are two kinds of grocery markets: the local farmer’s market where everything is sourced fresh and totally local (and totally pricey). Then, there’s the regular old grocery store that offers products from all over – products we all need to cook and eat good meals. What kind of grocery market do you have access to? In real estate investing, there are two kinds of markets – local and long distance. If your local market isn’t fresh and full of great options, or if it is too expensive – you may want to shop elsewhere! When you buy a product from anywhere in the country, you get more of what you want for a lower price. Sometimes, this just makes sense for live-ability and affordability! Note: Hipster totally loves actual Farmer’s Markets, of course!
What kind of cook are you? What kind of kitchen do you have? Where do you shop – what do you want? What can you afford? If you want to cook up an impressive portfolio, consider spicing things up and adding in some turnkey properties for great flavor!