While some choose their investments based on instinct or intuition, others fashion elaborate strategies and look to the genius of those who work with/near them. Even with those differences, there are traits that these individuals share, such as tenacity, charisma, flexibility, vision, wealth management skills, networking skills, planning, adaptability, and, most importantly, risk-taking.
A recent article published in Forbes titled, “Traits Of A Successful Real Estate Investor,” highlights a frontrunner in the high-end luxury real estate sector, Fortune International Group, owned by Edgardo Defortuna. Defortuna is an Argentine-born entrepreneur with degrees in mechanical and electrical engineering, and his thriving business does dealings South Florida, Latin America, and Europe.
The firm, because of its success, could help to shape the landscape of Miami. Fortune boasts a healthy portfolio including developments, such as the Ritz-Carlton Sunny Isles Beach, Jade Residences at Brickell Bay, and many others. Ultimately, what has enabled the firm’s success is a decision to take risks and confront economic difficulty where it stands.
Defortuna confirmed the idea that risks are essential when discussing the Jade Residences at Brickell Bay with Forbes, stating,” I decided it was the building that would position us as top of line Miami luxury developers, then 9/11 happened. Rather than lying down seeing what would happen economically we built a sales center so buyers who had reservations could see were moving ahead and sign sales contracts… We took some risk, and it paid off.”
Venture investments, because of its ‘high risk and high reward’ nature can facilitate success for investors and developers. With that said, it’s essential that you have good judgment. Many successful investors begin with a vision, which becomes an action plan, and then action. For some, this translates into billion-dollar developments, as well commercial and residential victory.
Today, many real estate investors dip their ink in several inkwells. They’re not only interested in real estate, but the business that will live within the developments. In many cases, they invest in restaurants. There’s a peek industry in franchises and high-end establishments.
Real Estate investors prove their dedication to their mission by negotiating with others, combatting structural issues, and being persistent. They’re also scrutinizing, analytical, and they have a vested interest in securing achievement.