The issues of finding balance and deciding on an ultimate goal for real estate each investment, is not an easy one. The question that needs to be asked is: What is the desired outcome? Why should any investor get involved? Having goals - as well as the time to devote to developing a strategy - really shapes how one can move forward.

As each investor searches for the plan that works best for them, they need to remember that some strategies aren't as risky as others and thus will not yield the same kind of profits. Others may take up more time than your have to properly devote to them for success.

Regardless of the strategy, it's necessary to ask the following important questions:

Is the plan something that can be mastered with the right "education"? In the end, the success anyone has with their strategy really depends on what they put into it from the beginning. Will there be enough time to make it work? Does it fit in with their personality? Is it possible to become the expert with this strategy?

Does the investor have the time it will take to do the proper research? Time is a really important factor when it comes to developing a successful strategy. Investors need to know from the start whether they will have the time to make it work. Since some strategies can require a great deal of time, they need to decide what time they have available to devote.

Is the strategy something that enables the investor to achieve their objectives? In other words, can they make the kind of money they want within the boundaries they are willing to explore? Ultimately, they will need to decide if their strategy is really working for them and their lifestyle.

Finally...

Is there sincere passion behind it?

At the end of the day, if the plan that is mapped out doesn't "do it" for the investor, then it's not likely they'll be very successful with it. So they need to think about the aspects they enjoy most: Do they enjoy rehabbing and flipping? Consulting? Buying and holding? These are all things to consider.

More importantly, the "perfect" strategy may not exist - at least not at first. Usually, once there is success, the momentum builds and gives way to the plan that will continue to work in the future. But until then, compromises may need to be made. Things like time and money constraints factor in to some of these compromises. It may be wise in the beginning to keep the expectations lower and build them up once there are initial successes. It may even be a good idea to have short and long term goals in mind.