(Global) Acknowledge your weaknesses and address them

  

In the overall scheme of real estate investing, many people have their likes and dislikes. Some of the things that I am good at and like are the investment analysis, economics (this should not be a shock based on the majority content on this site) and accounting. 

When it comes to my biggest weakness, it is unquestionably property management. I consider myself to be the worst property manager in the world! If the rent was constantly late, I would probably fall for every story that was given to me. Having discovered this weakness of mine early on, I decided to address this issue by outsourcing all of my property management. This is critical to going forward because the best property in the world can fall apart if the management is lacking. I am completely hands off and have this as one of my strongest sides of real estate rather than my Achille’s heel. 

What is the one (or more) aspect(s) of real estate you dislike. Identify them all and then hand it over to professionals. Many people I know hate accounting and that is why I encourage people to hire an accountant as soon as possible for no other reason than to stop losing money.