Starting Right With Property Investments

You know you want to buy a property for investment purposes. But how do you find the property?

You may focus on that specific location and try to make the deal work there. However, you may be going about it the wrong way.

Instead of starting with a location, you may have to focus somewhere else. You have to look at strategy.

Your strategy can lead you to locations. But your location won’t lead you to a strategy. That’s not saying that research isn’t important. It’s still extremely important to do due diligence before committing.

When you don’t have a strategy in place, though, it’s like going to a grocery store hungry. You really want to fill that need. And you may get emotional about it. Especially if you don’t have a list, or strategy, to guide that need.

The ideal property investment strategy comes from your vision of your end goal. When you can see your goal and the path clearly, it leads you to locations.

Why?

Because you are looking for specific results or opportunities. If you choose a location first, you’re really buying and hoping that you get the results you want. However, if you focus on strategy first you will gravitate towards locations that can give you those results.

Determine your end goal and map out your strategy. Once those essential pieces are in place, you’re ready to look for a property.

— Todd Polke