I recently read an article written by Darren Heitner on Inc.com. Darren covers 4 tips for investors to be successful and I’ve documented my take for each one to help you grow your business. The 4 tips are:
- Markets perform differently in different places. My take is to know your markets thoroughly where you are going (or even thinking) to invest. You need to know the basic economic indicates such as job growth, population growth, and specific real estate metrics.
- Pay attention to key metrics. My take is to always do your own deal underwriting and be conservative in your numbers.
- Learn what things cost. My take is you must know what things cost to control your expenses and manage to a budget. It’s non negotiable so do your homework or ask for help if needed.
- Build a killer team. This is critical to grow because an individual can only do so many tasks before you need a team to support you.
The entire article can be found here. Good Luck.