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Are you ready to become a real estate investor? Creating financial wealth begins with an understanding of the best time-tested principles for making and managing money. Creating wealth is about recognizing that wealth and riches are not the same, that the gap between a good deal and a great deal is a vast chasm created by a lack of wisdom. Learning the difference can change the way you look at the world, and eventually it can change the shape of your life. Building financial wealth through real estate is possible... building financial wealth through real estate is possible for you.
criteria | what to buy
There are three forces that are at the core of all investing: criteria (what you buy), terms (how you buy it) and network (who helps you).
The first of the three, criteria, describes what you buy. They're the standards that define what type of property you're looking for. Your criteria are the things you ultimately list on your all properties bulletin when you're hunting for the next opportunity. What type of property? Who is the developer? Does it have the right features and amenities that make it attractive for resale or lease? MOST IMPORTANT, WHERE IS IT LOCATED? Your criteria are the aspects of the property that are immutable facts, the things that can't be negotiated away. They are the foundational piece of your investment strategy.
In practice criteria narrow an investor's choices to the properties that represent the greatest opportunity and the least risk. When the property you find matches your criteria, what you get in return is something with predictable value. Think of your criteria as an opportunity filter that keeps out the bad and lets in the good. And just as good criteria are the backbone of successful real estate investing, bad criteria (or no criteria at all) have been the downfall of many wood-be investor. Criteria are ultimately about identifying predictable value, and this is why they are the first area of focus.
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