With so many Real Estate Investment Strategies, how do you choose the right one?
Kamesha Keesee One of the most known ways to build wealth and widen your investment portfolio is through real estate investment. As a matter of fact, for most popular wealthy millionaires, real estate investment takes up a significant part of their wealth. As we move forward, real estate is developing into a more diverse industry that features limitless opportunities to anyone willing to invest in it to make some good returns. This basically means that anyone can make money in real estate investment.
H
owever, for anyone to make money out of real estate investment, you have to deploy the right strategies. The choice of the right real estate investment strategy will result in a fast and huge ROI and vice versa. Not all investment strategies are going to be suitable for everyone. Also, the industry comprises of numerous types of investment strategies that one can choose from. This makes it even more difficult to choose the right strategy to utilize in your investment plans. So, how do you choose the best real estate investment strategy that works for you? Here is how you can do that: 1. Answer your “Why” question. To determine the investment strategy that is best suitable for you, you first have to come up with clearly defined goals. This means that you should determine what exactly you want the investment to help you attain. You
34
l
should clearly figure out whether you’re looking to establish passive income for your retirement, or whether you want to make money to fund a family trip or vacation, or you’re just looking to gain more flexibility and be your own boss. Avoid vague general objectives such as “to make more money” when defining your goals. Ensure your goals are precise enough. With clearly determined goals, you can choose the strategy that fits you the best. 2. Get some knowledge. Once you’re clear on your specific goals for the investment, it’s time to learn what you’re getting yourself into. Take your time to learn the basics of real estate investing and ensure you can distinguish between the different real estate investment strategies. Like all other investment businesses, each investment strategy in real estate features its own levels of risks and rewards. However, The Power Is Now Magazine | OCTOBER 2020
