oversaturated market and end up with debt-to-income ratios that are beyond your comfort level. NO. 3 STREAMLINE YOUR FINANCING PROCESS. The housing supply has fluctuated dramatically over the past three years. When supply is low and homes are moving fast, it’s important to be agile. Have your finances ready to go, so once you decide a property is right for you, the time needed to complete the deal is relatively short. It also helps to build relationships with your lenders as much as you are able to expedite the closing process. COMMUNICATION IS KEY. Make your network work for you. Investing in real estate is NO. 4 about communication and building relationships with the right people. Partner with people and organiza- tions who have your best interest at
heart. This doesn’t happen overnight, and it also requires you to be the kind of person others can depend on. You’re a busy person, and you can’t answer calls or emails as soon as you receive them. Remember, however, that people have options, and they just might prefer to work with someone they feel appreciates their time and urgency. With the right strategy, you can set yourself up to succeed regardless of market fluctuations. Don’t be afraid to look outside the box. Your next great investment might be closer than you think. •
NO. 1 KNOW YOUR GOALS. Understanding your goals and the steps it takes to achieve them will keep you on your path and reduce the chance of missteps along the way. Knowing your goals also keeps you more focused and motivated. NO. 2 KNOW YOUR LIMITS. Be clear on your limits and where you are willing to compromise. As supply dwindled and housing prices rose to unprecedented levels during the pandemic, many investors were so eager to get into deals they often overpaid. Now many are sitting on assets that have likely reached their appreciation ceiling, trying to sell to buyers who are facing substantially higher mortgage rates. As an investor, you know it’s critical to do your due diligence. But make sure to analyze the numbers objectively. That way you won’t get caught up in the emotion of an
Kurt Coleman is the lead copywriter for RALAcademy, a company that corners the market in the residential assisted living niche. A graduate of Arizona State
University with years of experience as a team lead- er, systems developer, and writer, Coleman loves writing and sharing with investors how to translate their skills, know-how, and expertise in the real estate industry to the senior housing market.
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