Investing properties: awareness and habit formation to verify with your own eyes, ears, and feet

The job of a real estate appraiser involves about half of the week doing on-site inspections, so there are many opportunities to actually visit properties. I’d like to share what I keep in mind during those times! I hope it’s helpful as it can also connect to general real estate investment.

This is something my senior taught me when I first joined as a company employee“Mindset for Property Evaluation”which I still keep close to my heart today.

Be mindful of your surroundings in your daily life.

“Is there a store like this nearby?” “Is a building like this starting to be built nearby?”

If you do that, you’ll become interested in the surrounding environment even while you’re moving for on-site inspections.

Rather than visiting points intermittently,make the route continuous (meaningful).

 

Don’t rely on other people’s reputations found on the internet,develop the habit of verifying things with your own eyes, ears, and feet.

 

Being able to discern the good from the bad of things is connected to real estate appraisal evaluation.

Even when looking for an investment property, simply viewing the property as a “point” won’t reveal everything about it.

Nowadays, competition for acquiring properties on the internet is fierce, and some people even buy without actually seeing the property… But that’s scary!

There are many factors that shape a property's price. You may notice things you wouldn’t expect, so take your time tonot only inspect the target property but also walk around the surrounding neighborhood with your own eyes to confirm it “linearly.”

It isn’t anything difficult.

For example, when you go out to eat, don’t just choose restaurants you’ve been to or places with good reviews online; instead, trust your own instinct about why you want to go to that restaurant.

If your hunch is off, that’s fine too.You just need to avoid making mistakes when actually buying a property.

Then expand your sense of the land to broader areas, and as much as possiblewant to buy properties within areas you’re familiar with.

If you live with that awareness, your understanding of the market and ability to pick properties will improve through that accumulation!

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