Let's start out with what bad investors don't do. They don't research their market. They don't plan ahead. They don't build a credible and reliable team before they analyze a property to purchase. They don't do at least three interviews with people before they count on that person as a team member. They don't pay their team members enough. They usually start out by driving around their neighborhood and calling on a few signs or asking their Realtor sister-in-law if they can get a list of Investment Properties in their area. They fail to consider they could get three to four times more money in cash flow by looking in other, better, safer markets. They never ever ask themselves
white nike heels , "how long can I hold on to this Investment property if I lose a tenant for 2-4 months while I have to repair replace or re-market it? They never ask
authentic nike heels , "What am I doing to make sure my tenant never wants to leave", or seriously reconsiders if they do have the opportunity? They don't send gift cards or any other "thank you" type note to say I appreciate you keeping the place clean and paying rent on time.
They don't consider competitive advantages of one house over another, they don't consider the neighborhoods they invest in before they buy, they don't consider the market and what its doing which may affect their investment property in years to come. They don't consider jobs
jordan and nike heels , they don't consider floor plans. And most of all, they don't buy properties they know they should even when all the details are considered. They get cold feet and consciously choose to do nothing rather than choose actions which will make them huge amounts of money. That's what bad investors do.
Now that you know what not to do, let's take a look at what you should focus on. Focus on Cash flow and risk reduction. Make sure the homes on that street and the surrounding ones look good. You don't want the one good house on a good block. Make sure you can spend $200 bucks to fly out once a year and take a look at it and meet with your team. Make darn sure your Insurance policy covers damage while the property is vacant. If a tenant leaves and someone breaks in and vandalizes your house you need to be sure you can get funds to repair.Jason Gray is a Real Estate Entrepreneur started out with humble beginnings. As a college student he noticed the trends of the rich getting richer and the poor getting poorer and set off to learn what it takes to be both financially secure. To find out more about buying Investment Property or to buy 25%+ ROI cash flow property click Buy Investment Property.
