5 Ways To Thrive In Real Estate

1
5 Ways To Thrive In Real Estate
2
Your
Real estate is quickly becoming the most popular
form of investment, with purchases rising over
25 in the last five years. It makes sense, since
more savvy investors are looking to thrive in the
property market, diversify their holdings, and
protect themselves from increasingly destructive
financial swings. Maybe youve decided its time
for you to join this group of savvy investors and
enter the real estate market too, but youre not
sure how to reduce the amount of risk youre
potentially exposed to. Well, there are ways to
thrive in a real estate market, and these five
steps will help you make the right decision for
your financial future.
Drawings
http//michaelputnam.com
3
1. Determine Your Investment Strategy
Your

• Before you dive in and buy an investment
  property, its important to assess what
  investment strategy will work best for your
  future goals. Sure, property investing can be a
  powerful wealth-building tool, but it can also be
  a difficult burden to liquidate if not done
  right. If you havent done so already, you need
  to get a clear picture of your personal finances,
  and have an overall idea of what your personal
  and financial future will look like. Some
  questions to help you gain clarity might be
• Where do you want to be in two, five, or ten
  years?
• Where is your ideal location to live?
• Do you want to start a family?
• Do you want to travel? Do you want to have a
  solid base for a family?
• Are you satisfied with your career(s), or do you
  see a sea-change in the future?
• Are you comfortable with the idea of commitment
  and the responsibility of maintaining another
  asset?

Drawings
http//michaelputnam.com
4

• Some other relevant questions to determine what
  investment strategy might work for you are
• What investments do I currently have, and what do
  I want to acquire in the future?
• Do I have retirement savings?
• Will liquidity be an issue for me? Do I need fast
  access to cash?
• Will I be able to be in this long-term, and be
  comfortable with an unpredictable cash flow?
• Do I expect my investment property to supplement
  my retirement?
• Do I expect the property to provide income, or do
  I want long-term capital gains?
• Once youve painted a clear picture of your
  financial goals, its best to seek the guidance
  of a property investing specialist or, in some
  cases, a financial advisor. These professionals
  can offer strategic real estate investment advice
  to put you on the winning foot.

http//michaelputnam.com
5
2. Look for Affordable Real Estate 
Its very easy to over-commit when entering the
real estate market as an investor. So its
important to maintain a level head to avoid
overspending when it comes time to buy a real
estate investment. Using the newfound
understanding of your financial standpoint, be
sure to buy a home you can easily afford so you
dont make things more difficult for yourself
than they need to be. To assist in keeping within
your budget, consider older existing homes as
well as the new. While you might not like a
previous homeowners decorations, these are
superficial and can be changed both easily and
for a far cheaper price than a new home!
http//michaelputnam.com
6
3. Buy in a Prosperous Location
Your
As every good listing agent will tell you, its
all about your investments location. Buying
profitable real estate is largely about doing
your due diligence and knowing where the good
locations are. A house thats located on a busy,
noisy street may be less enjoyable to a future
homeowner than one situated on a quiet, secluded
cul-de-sac. Be sure to take a good look around
and see if the neighborhood is suitable, well
maintained, neat and tidy, and has other houses
that display a sense of prosperity. Avoid simply
falling in love with a property. In many cases,
the investment potential will be quickly
diminished by the loud neighbors next door or the
school across the street.
Drawings
http//michaelputnam.com
7
4. Consider Nearby Services
Your
If youre going into investment property, then
remember that your main reason for buying is to
make money. Educate yourself as much as possible
on a property and its neighborhood or suburb, and
consider services and desirables that, in many
cases, you yourself would look for in a piece of
real estate. Consider the availability and
distance to the following when looking at a
property
http//michaelputnam.com
8

• Services What services are close by that may
  increase the desirability of your property for
  renters or future buyers? Health, shopping,
  employment, etc.?
• Schools Many renters and buyers look for the
  availability of schooling for their future
  family. What does your potential investment offer
  in terms of schooling?
• Transport Access to transport is becoming more
  of a consideration, as populations swell and
  drive more cars off the road. Is parking
  available? Are there buses or trains close-by?
  How easy is it to get to an airport? Is the
  airport domestic or international?
• Desirability How desirable is the location? Are
  the streets lined with trees? Are the yards
  well-kept? Is it a newer or older neighborhood?
  Is it busy or peaceful?
• Services such as these add value to an investment
  property and will make it easier to sell at a
  profit later on.

Your
http//michaelputnam.com
9
5. Look for Inherent Investment Potential
Your
As an investor, you want to enter into a real
estate venture with the mindset of profit over
pickiness. This means that its best to leave
the idea that this could be your dream home
behind, and instead treat it like the investment
that it really is. Keeping this in mind will help
you avoid making rash decisions to extend
yourself beyond your financial means for the sake
of a property you love. Looking beyond the face
value of a property and keeping your budget in
mind will have you acting more on the side of
logic, avoiding the mistake of purchasing a
white elephant which could leave you deep
out-of-pocket. Consider how your purchase will
look from a buyers perspective, and assess if it
will be easy or difficult to sell again later.
Drawings
http//michaelputnam.com
10
Time to Watch Your Investment Grow
Your
Following these five tips for entering the real
estate market will help you thrive and avoid
making costly emotional decisions for your
future. Preparing yourself for success requires
thoughtful planning and diligence, and the effort
you make now will pay itself back tenfold in
future. If youre in the real estate game to
thrive, then make sure you tend to your roots by
preparing for your success.
Drawings
http//michaelputnam.com
11
Your
Following these five tips for entering the real
estate market will help you thrive and avoid
making costly emotional decisions for your
future. Preparing yourself for success requires
thoughtful planning and diligence, and the effort
you make now will pay itself back tenfold in
future. If youre in the real estate game to
thrive, then make sure you tend to your roots by
preparing for your success.
Drawings
http//michaelputnam.com
12
Your
Website http//michaelputnam.com Michael Putnam
info_at_michaelputnam.com 703-928-6514   Sources
http//michaelputnam.com/5-ways-to-thrive-in-real
-estate/
Drawings