This episode is brought to you by Presario Ventures, a private equity real estate firm based in the booming Austin, Texas, market. To learn how to invest in the future of Texas with Presario Ventures, visit info.presarioventures.com/bestever.
Passive Investor Tips is a weekly series hosted by full-time passive investor and Best Ever Show host, Travis Watts. In each bite-sized episode, Travis breaks down passive investor topics, simplifying the philosophy and mindset while providing tactical, valuable information on how to be a passive investor.
In the episode, Travis Watts discuss the value of consistency in investing. They highlight the importance of a repeatable success strategy, advocating for choosing proven business models and emphasizing specialization. The central idea is that while one-time success might be luck, repeated success signifies skill.
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Transcript
Travis Watts:
Too many people find success in one area or another, and then they make a pivot into something completely different and they try to find success there. What that's doing is adding unnecessary risk to your chances of success.
Narrator:
Welcome to the best ever show, the world's longest running daily commercial real estate podcast. Our hosts interview commercial real estate experts every day to get you the best advice ever with none of the fluffy stuff.
Hey, best ever listeners. Welcome to another episode of the best real estate investing advice ever show. Travis Watts is back today with another edition of passive investor tips, but first, I want to let you know that today's show is brought to you by Presario Ventures, a private equity real estate firm based in the booming Austin, Texas market. To learn more about how you can invest in the future of Texas with Presario Ventures, visit info.presarioventures.com forward slash best ever, or click the link in the show notes. Now I'm going to kick it over to Travis for another episode of Passive Investor Tips.
Travis Watts:
Welcome back best ever listeners to another episode of Passive Investor Tips. I'm your host, Travis Watts.
In today's episode, what we're talking about is once is luck and twice is skill. Disclaimers is always never financial advice, not telling you or anyone what to do with your money, please seek licensed financial advice when it comes to your own investing with that top of mind. I'm going to start by just saying that the game of investing is a parallel to the game of golf. If you've ever played a round of golf, then you've probably had some successful shots and some unsuccessful shots. But what sets professional golfers apart from the rest is their consistency. The ability to have success after success. And sure, investors make mistakes and things don't always go as planned, but generally speaking, they have a repeatable success strategy. And in terms of investing it's really the same. Any professional investor is consistent over time. Just look at the track record of people like Warren Buffett or any of the top investors worldwide. They have sustained consistency. They're always stacking the odds in their favor. Now again, that doesn't mean they never lose money or that they never make mistakes because they do. So let's quickly discuss how you can gain consistency. And step number one starts with identifying a business plan that you're going to invest in. Business plans and business models are critically important to consider. So as we think about this, there's a lot of businesses that generally work decade over decade. A few that come to mind real quick would be selling food and drinks at a sports event or mowing yards in a state like Florida, which is pretty much a year round business, or a paid parking lot at an airport.
So while risk is still a factor, the key is to select a business model that has a high chance of success, has a long track record of working decade over decade, and is in high demand. And this will stack the odds in your favor.
And step number two is to double down on what's working. Too many people find success in one area or another and then they make a pivot into something completely different and they try to find success there. What that's doing is adding unnecessary risk to your chances of success. And here's a simple exercise to consider. Number one, what has worked for you already in terms of investing or what's working best? Number two, what other businesses or business models have a long track record of success? And number three, simply, double down on what's working. And step number three is to specialize. The majority of people are always gonna go after the low barrier of entry or chase the low hanging fruit, but professionals on the other hand, always specialize. So consider getting good at maybe one or two specialties and just becoming the best that you can be in those areas. And remember that once is luck and twice is skill. Anybody can get lucky once, but is what you're doing repeatedly successful?
You're listening to Passive Investor Tips. I'm your host, Travis Watts. I know this was a shorter episode, but if you ever have questions, feel free to reach out on social media platforms. Don't forget to like, subscribe, and comment. Share these episodes with anyone you think could find value. Until the next episode, have a best ever week, everyone.
