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Personalizing Your Strategy

Getting Personal with Your Plan of Attack

Your goals may not be like anyone else’s but they’re still your goals. Whatever it is that you’ve set for yourself by investing in real estate is a path that you direct--and everything you do with regard to real estate should help you move along your path, not divert from it. Investors can be young, old, rich, not-so-rich, in retirement or soon will be, a risk taker or risk adverse. Whoever you are determines how you will achieve your real estate investment goals. The strategy you select can change and evolve. You may start with a simple buy and hold strategy and move onto flipping as your knowledge and confidence grows. Alternatively you may start in wholesaling to gain some purchasing power to move toward a buy and hold path creating constant cash flow and financial independence. Let’s look at a bunch of simple scenarios as to who bought what, where and why.

The Primary Conversion:

Bob buys a second home and keeps his old house

The Vacation Rental:

Julie buys her dream beach house

The Low Maintenance First Investment:

Sara buys an out of state Florida condo

Multi-family with Cash Flow Goals:

Jennifer and Jim buy a Vegas duplex

Highest Cash on Cash Return:

Matt bridges his retirement gap with out-of-state single family homes

Wholesaling for Beginners:

John's first wholesale deal in Jacksonville, Florida
  1. People reach their goals by personalizing their strategies based upon a variety of individual circumstances including their financial resources, skills, appetite for risk and family situation
  2. Achieving short term goals will get you to your long term goal
  3. Your level of involvement will be you next consideration in achieving your goals
NEXT: Making it Happen