How to Align your Investments with your Personality
Shanaka Ubeysekara, the founder and CEO of Empire Wealth Buyer’s Advocates, has over a decade of experience in guiding clients through the intricate world of property investment. His firm specializes in helping clients who want to get into real estate investing. Shanaka’s deep understanding of the market and his commitment to personalized strategies have earned him a reputation as a trusted advisor. His approach emphasizes the importance of aligning investment strategies with individual personalities, a concept that can significantly impact investment success.
The Importance of Personality-Aligned Investment
“Investing is not a one-size-fits-all endeavor,” Shanaka explains. “Understanding your own risk tolerance, lifestyle preferences, and long-term goals is crucial to making sound investment decisions.” He highlights that mismatched investment strategies can lead to stress and financial loss, as evidenced by several of his clients’ experiences.
Hands-Off Investors: The Importance of Low-Maintenance Properties
Shanaka remembers the story of a young couple who preferred a hands-off investment approach. They purchased a property but soon found themselves overwhelmed by the responsibilities of being landlords. “For this couple, even the smallest repairs were stressful,” Shanaka notes. “They weren’t ready for the demands of maintaining an older property.”
The couple’s experience made evident the need for investments that align with their personalities. Shanaka advises hands-off investors to consider new, low-maintenance properties that attract reliable tenants. “A brand-new townhouse or a low-maintenance house is ideal for those who prefer minimal involvement,” he suggests.
Long-Term Investors: Embracing the Challenges
In contrast, Shanaka describes another client profile: long-term investors who are willing to work and can withstand periods without tenants. “These investors might look at older properties that need repairs,” he says. “The renter’s profile in these areas is different, often someone with a lesser income looking to get into a less developed area.”
Shanaka emphasizes the importance of thorough planning and risk management for long-term investors. He shares the story of an elderly couple who attempted to subdivide a large piece of land without proper analysis. “They spent over a million dollars and ran out of money because they didn’t plan their exit strategies or account for risks and contingencies,” Shanaka explains. “Having an end goal in sight is not enough. You need a robust, fail-proof game plan.”
Data-Driven Decision Making
Shanaka’s approach is deeply rooted in data-driven decision-making. “You have to plan your exit strategies and be ready for risks and contingencies,” he advises. “Just having an end goal in sight and an objective wouldn’t really help. Sometimes you need to have a good, robust, foolproof game plan.”
He shares another example where he helped a couple assess their investment options through detailed scenario analysis. “I did a thorough market analysis and provided three clear exit strategies based on realistic assessments,” Shanaka says. “By looking at worst-case scenarios and having contingency plans, they could make informed decisions.”
Real-World Success Stories
One of Shanaka’s success stories involves a couple sitting on a large piece of land. Initially, they were unaware of the land’s potential due to poor initial assessments. “I found that their land, if developed properly, could be worth about 12 million dollars,” Shanaka reveals. “We laid out a financing plan and realistic selling prices, which turned out to be much higher than their initial estimates.”
By providing clear and transparent options, Shanaka helped the couple see the true value of their property. “They were very happy, and the mortgage broker who brought them to me was ecstatic,” he recalls. “This transparent exercise allowed them to make clear decisions based on real facts.”
Tailoring Investments to Your Personality
Shanaka Ubeysekara’s insights highlight the critical importance of aligning investment strategies with individual personalities. Whether you are a hands-off investor seeking low-maintenance properties or a long-term investor willing to take on more significant challenges, understanding your own preferences and risk tolerance is key to investment success.
“Investing is not about following a generic formula,” Shanaka concludes. “It’s about knowing yourself and making informed decisions that suit your lifestyle and goals.”
For more personalized investment advice, follow Shanaka Ubeysekara and Empire Wealth to stay informed and make smarter investment choices.v
