We're heading into Christmas, we're all tired and scratchy and would really like a break. But is that the best idea if you are a real estate investor? You could use this time to your advantage and capitalise on everyone else taking a break.
Maybe this year consider taking your holiday in the middle of the year and use this time to fortify your position instead and take on the new year with a bang!
Competition
Since everyone else is hitting the beaches and the market slows down until about February, this is a fantastic time to negotiate. Make offers from late December to mid January and you might just swing yourself a good deal because there are no other buyers around.
Another thing to keep in mind: tenants can be more demanding over this period, and might push a landlord over the edge and want to sell off some property, and you will be there ready to take it of his/her hands!
Review, Review, Review
While you have a few minutes to breathe, now is a good time to do a thorough look at all your numbers:
- Rental review
- Your investment portfolio (Loan to Value Ratio, Debt Ratio etc)
- Mortgage and interest rates - a full financial review
Practicing
Keep up those skills (or improve them), get out the calculator and search the market for deals practice analysing numbers and properties. The more you do this, the better and faster you will see which is a deal and which is not. The faster you get at it, the bigger your portfolio!
Educate
Up-skilling yourself is vital in all areas of life and none more so than in real estate. There is always something learn. If you don't know it, then you can't leverage it, so learn! Courses, books, online material - drink it all in and put it to good use! This may be the key to spotting that deal faster than the next investor.
Think about how good it will feel coming out of the summer holidays with all this knowledge under your belt (and maybe even a deal or two)!
What are your investing plans over the summer season?
No comments:
Post a Comment