Recently, my wife and I got together with some relatives on my side of the family that we haven’t seen in years. During the visit I got to talking with my Grandfather (my Dad’s father). His name is Milton and he is 77 years old, and literally he is a certified genius. Anyway, we got to talking about politics and real estate and the economy and small businesses and entrepreneurship, etc and it was a very enjoyable conversation. It is almost refreshing in a way to listen to someone speak their mind when they have such knowledge about life and history and everyday facts.

During this conversation Milton mentioned a word and then described it to me. The word was “Savvy” and he then described it as, “to have a clear understanding of something, and a knowledge and a confident level of common sense.” He was clearly very intent on getting his point across to me about the importance of having savvy in life and business. After concluding the conversation with my Grandfather, shortly thereafter I continued to think about the true power and relevance of the word “savvy” and I knew that it was going to be my topic of conversation for this Business Tip Article.

If you look up the word Savvy in the dictionary it pretty much gives you the exact definition that my grandfather gives – to have an understanding and a mental grasp, as well as common sense of what it is that you do. So as I relate this article to real estate investing I want to ask you, do you consider yourself a savvy real estate investor/entrepreneur? If someone asked me that I would confidently be able to say, YES. I wouldn’t have always been able to say this but, as my experiences in real estate and business grew and continues to grow my “savvy” has grown with it.

So what’s the point of all this “savvy” talk? The point is, “savvy” is a vital and essential ingredient in your recipe to achieve success as a real estate investor. Without “savvy” you will always be just mediocre at best. The good news, is that “savvy” can be acquired and built upon. The more you know, the more experiences you have, the more you get out and do things that others aren’t willing to do, the more savvy you will become as a real estate investor. Anyone in the world, past or present, who has made a name for themselves in business, exemplified a high level of “savvy.” They have a strong understanding of their business and a mental grasp about what needs to be done to achieve success.

So I ask you again, do you consider yourself savvy?