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5 New Year’s Resolutions for Real Estate Investors

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As a new year begins, it’s a great time for real estate investors to assess their investment objectives and results and set goals for the year ahead.

Setting resolutions can help you stay on track and achieve long-term success as a real estate investor. Here are five smart investor goals for the year to inspire you.

5 Resolutions for a Successful Year in Real Estate

  1. Review & Evaluate Investments: Revisit your investment objectives throughout the year. Real estate scenarios can change in many ways: A house flip may not sell, costly property repairs may pop up, or a rental may be difficult to fill. Experienced investors understand that investment strategies are meant to be fluid and keep their goals flexible.
  2. Set Acquisition Goals: Get specific about the number of properties you will acquire in the next twelve months – and how you will finance them. Remember that real estate comes with risk. Set realistic goals and buy within your budget. Purchasing one or two quality properties within a year can provide more significant long-term ROI than buying multiple properties that may stretch your finances and put your investment goals at risk.
  3. Build a Network: Successful real estate investors benefit from their contacts. The more extensive your network is, the more investment opportunities you’ll learn about – often before they are listed. Follow and connect with other investors on social media, join real estate investor groups, and attend investor events. Talk to local real estate agents and build your network of professional contractors.
  4. Prepare for Taxes: Get a jump on your tax bill now. It will make tax season easier and let you more accurately plan and budget for investment purchases in the year ahead. Hire a CPA to assist in estimating your owed taxes. Tax expenditures up front will free you to invest in real estate opportunities as they arise over the next twelve months.
  5. Expand Knowledge: Spend time researching, reading, and building your real estate and investing knowledge. Seek insights, information, and “hands-on” tips from industry experts and other investors. Learn from their successes as well as their mistakes. By growing your awareness and understanding of the industry, you’ll gain confidence as a real estate investor.

These five resolutions for real estate investors will help ensure a successful year – and beyond.

Finance Real Estate Investments with Our Idaho Hard Money Loans

Making resolutions for the year ahead? Make Gregory M. Russell part of your real estate investment strategy. Our equity-based private money loans take the hassle out of financing. They are a great fit for Idaho fix and flip or rental property investors, and provide fast financing options when purchasing investment properties. If you have adequate collateral, a direct hard money loan can put money in hand in ten days or less with minimal paperwork. Questions? Call us to learn more at 1-888-477-0444. Or complete our online loan request form, and we’ll get back to you shortly. Kick off the New Year with trusted Idaho hard money lender Gregory M. Russell!