- The real estate environment over the past year has been filled with challenges for everyone in the real estate industry. Most investors are finding ways to navigate successfully through the unfamiliar waters of changes in values, financing options and real estate values. This new climate has encouraged people to take a closer look at their real estate investment strategies and the need to make adjustments. As we re-evaluate our investments and how to proceed we may discover that we still have some dead leaves on our real estate investing tree.
- I enjoy living on my farm and being surrounded by nature. One of the most striking features there are the giant twin oak trees that surround my home. They offer plenty of shade in the hot summer months…and tons of giant oak leaves and acorns in the fall.This winter we experienced something fairly rare in my area…snow. The trees were beautifully encased with crystal white snow and the landscape resembled a winter wonderland.As I was enjoying the serenity of the moment, I noticed that some of the trees were totally barren of leaves, while a few others still had many dead leaves on their branches.
Real estate investors can be like these trees. Some have shed the old dead leaves that no longer serve them and are ready for the new buds to appear and spring forth beautiful leaves. Others are still clinging to the old dead leaves.
So …do you have dead leaves on your real estate tree that is holding you back from reaching your investment goals?
Unlike the trees, we have the ability to adjust our strategies and make smart choices that will work in this market.
1 Consider alternative financing options. Owner financing, using a self directed IRA, securing private lenders seeking to make higher interest than currently being paid in their investment accounts ( not hard money).
2. Educate yourself on the values in your current market and what is selling in your area.
3. Stay focused on your geographical area where you can become the expert.
4. Partner with other investors on projects.
5. Create a new investment plan and stick to it. Determine the types of properties that will offer you the best return in the current market.
6. Discover areas that are not producing the outcome you desire and make the necessary changes.
Investors who shed the dead leaves on their real estate tree will find that reassessing their real estate investing plan and making the needed adjustments will result in more successful projects.