19 Steps To Grow A Profitable Real Estate Investment Portfolio

canadian real estate wealth magazineI’ve written many times about the high caliber of quality from the Canadian Real Estate Wealth Magazine, which is truly an essential resource for real estate investors in the country. Up until recently, I had no bias saying that but I am very proud to announce my second contribution to the magazine entitled, 19 Steps To Grow A Profitable Real Estate Investment Portfolio.

It’s important that I mention there are no two identical paths to success in the world of real estate investing but, like anything else, there are definitely certain principles that exist to best set you up for success. Mark my words, there are far more steps than just 19 but consider my philosophy as more of a pre-flight checklist to make sure you’re in for as smooth a ride as possible.

Click here to download a PDF version of the article

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19 Steps To A Profitable Real Estate Portfolio

When investing in real estate it is important to plan with the end game in mind because that’s where the real profit comes in, especially in the case of a buy and hold. Your success comes down to a series of careful adjustments and incremental decisions over time in accordance with your strategy.

1. Understand YOUR investment focus

Understand what you want out of your investments. There are so many different areas of real estate to invest in, decide what type you want and focus on that. Do your research and then ensure that your business plan matches that focus.

That doesn’t mean you can’t have more than one type of real estate investment but you’ve got to make sure you have a focus.

2. Ensure your business plan is current

It’s surprising how many investors don’t have a good current business plan for their real estate company. A business plan is often something an investor prepared when first running the numbers while looking at acquiring a particular property, (or when directed by an advisor), only to inevitably put it on the shelf after that first deal closed.

It is really common to hear of a business owner who hasn’t updated their business plan in a long time; however this is a document that needs to be current. Your business plan should be a fluid document rather than a stagnant document because it should always be changing.

Click here to download a PDF version of the entire article

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