Go Ahead, Make Your Move

Go ahead, make your move
Seizing opportunity is a crucial aspect of effective entrepreneurship. In real estate, you have to be able to quickly assess your opportunities in order to make the deal before it’s too late. We hear it all; if it isn’t a missed opportunity or an un-informed choice then it’s usually a success story. The question is: How do you know when it’s the right time to make a move?

How to get a delicious deal…MMMM:

Market Specific: Do your market research
Math: Check the numbers
Meeting: Confer with a mentor/expert and your power team

First, please don’t misunderstand and think we are condoning uninformed business practices. Far from it, we personally always do our homework and make sure we know the market in the area and any relevant regulations. Market specific research should be the first order of business when you are considering buying property – and it shouldn’t take more than a few minutes.

Second, check your numbers. You need to check the numbers to make sure you are actually getting a good deal. This means considering all the aspects involved, such as legal fees, construction, taxation, etc. You can use an accountant or a secure algorithm to check your investment. Again, only a few minutes to determine whether it’s worthwhile.

Third step is to check with your power team. Obviously, the numbers and market research are favorable if you are bringing it to the table so the conversation should be a relatively short one – unless there are additional considerations. The point is to get out of your head, get off the internet and have a conversation to facilitate forward motion.

Lastly, and our personal favorite, make your move!

Timing is everything. One trait we’ve noticed with some individuals is they spend far too much time preparing. It’s crucial to do research but yes, you can overdo it. One of the reasons we use algorithms in business is to detach from any apprehension and emotional anxiety. Beyond the numbers, it always helps to have a mentor to turn to for advice, even if it is to confirm your choice before you make your move.

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