This discussion is for all newbies and experienced investors to give their input and share about how they are going to make 2015 the year of success and begin purchasing real estate? What is your business plan in a nut shell to start purchasing? Maybe we can all give some ideas and learn from each other's experiences. When you have a business plan in writing then you are more likely to follow through with it! Let's check back throughout the year to see who is having success, with their plan!
I have noticed that looking at real estate is a little like dating in college: At any time, you usually have several options. Like a relationship. they come with various degrees of risk / reward.
It obviously depends on your strategy. I am on the money end, and largely finance others to do work or management for my properties. As a result, it's a simple timeline to decide when I need to be ready to put money on the table. Right now, my next date is March 15th. I am actively nurturing three opportunities. By March 15th, I will know and be ready to move on the best of the three.
There are two struggles I have found in this approach: One, is the distraction of 'new shiny things' that come into my eco-system. The other is being genuine with people. I want to make realtors, managers, turnkey providers, and even localities understand that they are essentially competing for my business. In return, I keep up the communication and honesty. Even people who didn't win my business this year can attain it at a future date.
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