Like this:

Many people decide to start investing in real estate without thinking about what their reason for doing so is. “Well, I want to make money!” is a common rationale. Well of course you do. But what kind of money? Do you want to earn a quick lump of cash so you can go on a vacation or pay off some debt? Would you like to grow a monthly income from properties that will exceed your monthly expenses? Or do you want to do both?
You’ll need to do some thinking and decide what the answer to this question is because your next step will be to decide how to best accomplish your goals in the time you have available IN YOUR MARKET. That’s right, I said IN YOUR MARKET. There is no magic formula that is the best strategy for EVERY market. That’s what the dude selling the course for $697 on the late night infomercial wants you to think, and his info IS probably worth the cost, but don’t think you’re going to buy one course and apply what’s in it to your town and become a millionaire overnight. Well actually it might — I would say there’s a .0398755 percent chance that might happen, but that leaves a lot of room for it not to happen.
On the other hand, don’t overanalyze either. At this point, it will be sufficient to decide what your financial goals are and leave it at that…”I want to create a montly cashlflow that exceeds my income,” or “I need a lump sum of cash, ” or my personal favorite, “I want BOTH!!”
Next issue “I know why I want to invest in real estate, now what?”

Advertisement