Questions to Ask Yourself Before Investing in Real Estate
Clarity is power.
Entering your real estate investing adventure with clarity helps ensure YOUR needs are met and YOUR goals are accomplished.
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QUESTIONS TO ASK YOURSELF
What is the big-picture goal I am trying to accomplish with this?
Am I willing to stick with this long enough to accomplish my goal?
How do I want to enter the investment world?
Am I ready to be a landlord?
Am I interested in residential or commercial property?
If residential, am I interested in single family or multi-family, and why?
How much money do I have to invest right now?
What is my personal risk tolerance?
What sort of tenants do I want to attract, manage and be in relationship with?
Where am I interested in investing? Why is that?
How prepared am I for on-going maintenance?
Do I want to manage the property by myself, or hire that out? Why?
What Return on Investment (ROI) am I looking for?
What cash on cash return am I looking for?
How will I know a ‘good deal’ when I see it?
I’m most concerned about:
I’m most excited about:
I need answers to these questions before I’ll feel comfortable:
This will help me keep it fun:
Who do I know that can support me in this, or that I could talk to?
What resources do I have? What resources do I still need?
What am I willing to compromise on?
I anticipate I’ll need help with:
Do I know how to run the numbers? If not, where can I learn & practice?
What other dynamics, unrealted to investing, should I be considering?
