Real estate investment planning is almost always centered around money – and for good reason! But there are other things to consider. And failing to do so, will make your investment goals harder to reach. As you set out on your 2016 investment path, here are a few things to consider that will help you keep your investment career moving in a positive direction:
1) What are your best talents professionally? Maximize this and incorporate it while executing your investment plan. Are you a great information organizer? Then organize every part of your investment searches flawlessly. It will save you time! Are you an excellent analyst? Then collect as much information on as many homes as possible and start crunching the numbers and weighing the risks. It will keep you focused on your objective.
2) What is your favorite way to invest? If you like fixing and flipping, find a stable of bird-dogs to find you homes. If you like the hustle of wholesaling, then time block two hours of your day looking for off market real estate to get to investors. Whatever you prefer, focus on it so you constantly enjoy utilizing your time.
3) Who are your strategic partners? Do you have a team who can help you? Do you have the boots on the ground to handle elements of the transaction that aren’t easy for you to do? Find your team. The contractors, title attorneys, money-men, and start organizing your deals around them.
Consider this while getting started in 2016, and you’ll have a leg up on the obstacles that interfere with your real estate investment game plan.