Putting It All Together

In our series, Finding the Right Property for Your Goals and Budget, you’ll learn how to find a property that is the right fit for your portfolio. We take you through every single step and show you how to avoid a bad deal. 

The last few weeks we have been exploring the ins and outs of setting a budget, weighing the location vs. the property, and your options for financing your purchase. This week is as straightforward as they come – putting it all together to create your buying plan.

Your goal should be to arrive at your destination (an excellent new property in your portfolio) with as little hassle and as much speed as possible. Your plan will be the catalyst to do just that.

Go back over the decisions you have made regarding your budget, your location and property type criteria, as well as how you will finance your purchase. Get these areas “in alignment”. Know that the weights of these topics will not always be the same, you’ll likely have one factor that out weighs the others – for many its budget or financing limits.

Approaching your property search with parameters in place to guide your decision will save you time and money. Don’t rush this process.

Ready, Set, Plan!

You’ve learned how to put it all together by aligning your criteria for your search.  Now you can start searching for the property that fits perfectly into your portfolio.

We’re not done yet with this series though. Next up, What You Need to Know About Schools, Crime Rates & Demographics — this is something every investor should take into account and be aware of, whether you will be buying to hold & rent, flipping, or another strategy.

Understanding financing is a lot like collecting tools in a toolbox. The more tools you have, the more (and bigger) projects you’ll be able to tackle, and the more successful you’ll be.