Many turn to flipping houses and investing in real estate each year, not just for the big paychecks but freedom to work from home. Freedom is great but there are 4 very powerful reasons real estate investors should never work from home…
1. Focus
This may not be an issue for some and if you do fine staying in your zone with the TV blaring, kids jumping on your lap and your partner nagging you to get up and help with the housework or to “get a real job” then stick to the pajamas and surfing between the couch and dining room table. If you find those distractions challenging and frustration then you might want to get out; at least part of the time.
2. Credibility
Of course you should never give out your home address and telephone number to anyone as you never know when a deal will go south or an angry contractor will decide to show up at the door. A virtual office or mailbox can solve this but there will certainly be times when you want or need to meet up with others. Starbucks might have great coffee but it also puts you shoulder to shoulder with the Avon lady and next generation of MLM geniuses pitching their work from home systems. Maybe that isn’t the best impression to give potential partners and lenders, not to mention the privacy issues.
3. Networking
Your success as a real estate investor is directly tied to the number of new people you meet and connect with every day. Social media can be a great way to pick up the slack here when you are locked in your cave all day but is rarely a true substitute for face time. This makes even just getting out working at the library, a coffee shop or happy hour on a regular basis essential.
4. Staying in Tune with Trends
The internet may a fantastic tool for staying wired into all types of news and trends but it is too easy for home bound real estate investors to stop taking a look at what is really going on in the street. If you are determined to work from home at least schedule more free time to get out and watch others shop, how their habits and tastes are changing and the role of technology in sales.
However, just because staying glued in front of your computer screen for 12 hours a day and relying on the pizza delivery guy as your only physical connection without the outside world is a bad idea doesn’t mean taking on a full time office and lots of overhead is a smart solution either. Perhaps considering shared co-working spaces or executives suites at least on a part time basis is a good move and if there are none close to you, you could always buy or lease the space and launch your own.
