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Breakthrough 3 Excuses That Block Investor Success
Excuses are unlimited of why you can’t do something. Instead of making excuses, as an investor you need to consider how you will get the deal done. Do you really want to invest in real estate? Why is it not happening now? It may take time to get your next property under contract, but enjoy the journey and keep in mind, there’s not a short term way to success.
Make the numbers work on a bad deal When analyzing properties, make sure you understand your numbers forwards and backwards. Do not lower your expenses so you can make a bad deal look good. Make sure to include repairs, capex, vacancy, and property management. If you plan on self managing, you should also include property management since you may not want to manage the building forever. The key is to remain objective when looking at a deal. It would be smart to have other investors to look at your deal analysis so you don’t make a bad purchase.Don’t have the money This is very common. For an owner occupied property, you can use a FHA loan or in Massachusetts, Masshousing. These are 3.5% and 5% down. These work for small multifamily 2-4 ... more
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