The committed novice real estate investor will typically take quite a bit more time to analyze a potential property before making the decision to move forward. That’s completely understandable as most every real estate investor anywhere has been in that very same situation.

Yet once the initialdon't get into a rut project closes successfully, the investor gains more confidence through experience, knowing what to expect at each turn. Once the confidence to invest becomes solid, it’s sometimes “turnkey” in nature. Especially if the investor sticks to a particular type of real estate.

Successful investors may find over time that their portfolio looks familiar. In real estate, an investor may become an expert in a particular neighborhood or community and come to a decision more quickly based upon not just past experience but with the type of property being purchased. There are those who specialize in college towns and student housing. Perhaps an investor is doing well with downtown condominiums. Or another buying and renting out duplexes near a shopping mall. Familiarity breeds confidence. But sometimes the well begins to run dry. Sometimes the investment opportunities are few and far between. If this is you, then it might be time to go back being a novice investor—only this time with a different property type than you’re used to.

That’s right. Shake things up a bit. If you own 20 single family homes and renting them out but the neighborhood is now “played out” and you want to continue to add to your portfolio. Change neighborhoods or change strategies. Instead of buying existing homes, think about building your next rental property. Instead of looking for foreclosures to rehab, think about being a private lender and finance the projects of others. Expand your horizons and don’t be afraid to do things a little different. You did it before, right? That means you can certainly do it again.