Real estate is often marketed as passive income, but anyone who has owned rental property knows the reality is more complex. This article reframes real estate investing as what it truly is: a competitive business.
The article introduces a clear and powerful framework based on activities, competences, core competences, and outsourcing. It explains why some investors consistently achieve better results than others — even in the same market — and why many disappointments in real estate are not caused by bad luck, but by misunderstanding the nature of the business.
This piece is ideal for readers who want a solid intellectual foundation before investing — or for those already investing who want to understand where value is really created and lost in real estate.







