One of the first questions I ask my clients before they go ahead and start the investing process with us is “What is your strategy”?
This is a very important subject to discuss with investors in order to determine exactly what they are looking to achieve…
Are they looking to flip a property? Are they looking for a rental property? Are they looking to create a portfolio of properties? Are they focusing more on cash flow or on appreciation or both?
Only after understanding the strategy behind the investment we will discuss the tactics.
Example for tactics would be the following: Property type (commercial, residential, apartment complex, land development), Location (nearby college, airports, main roads, shopping centers etc.) Property condition (Brand new home, fixer upper, empty lot etc.)
Planning ahead is essential to get the results you’re looking for even if you have to make some adjustments along the process. But not planning at all is just like getting into your car without planning your destination…
Once all of these questions and others are answered we could go ahead and look for the desired property in order to get the best possible profit margin and ROI (Return On Investment).
Have you already made up your mind about your strategy and tactics?