How Financial Discipline Will Help You Get the Most Out of Your Investment Property

At some point, you just have to commit and get going. I offer guidance as part of my course and personal services to help make this process less daunting. I always recommend clients start to practice analyzing properties, just to get a general feel of what properties have potential. Gauging the potential with the work needed and the overall value of the property is a great skill to have, and I recommend practicing daily even for properties you don’t plan on buying.

You want to do your due diligence and make sure the property has good bones at the very least. You can look at the property itself, as well as vetting any current tenants. If the property has long-term tenants with good rental histories, this is a good sign. Also, if the space is decent, or at the very least has the potential to be decent without too much in the way of renovations, this is a smart property to nab. No matter what, you want to make sure the space is a good fit for you and your experience as a landlord. It’s also important to not get intimidated by possible renovations since a space you can fix-up yourself will give you the most bang for your buck long-term. Again, if you’re truly intimidated, I am a licensed contractor, and I am happy to help you come up with a plan.