Develop and instinct so that you can make quick, accurate real estate investment decisions. Sounds simple doesn’t, but really it is more complicated than that.
What is an instinct? It is a feel you have about a certain situation.
How do you develop your instinct? You develop it by knowledge and experience.
Buying a first investment property can take a new investor quite a long time to come to a decision and it can be quite a nerve -racking decision.
As mentioned, knowledge and experience are the key but at this stage there is not the experience so it will come down to the knowledge.
Property investment education is essential to making quality decisions in real estate. You need to have an understanding of finance in general and more importantly your state of finance, you need to have an overall knowledge about real estate.
The key to developing your instinct
You can go to many seminars and attend courses, but at the end of the day you need to write your very own property investment business plan.
By the time you have written your business plan you will have researched all aspects of real estate investing, have short listed your requirements and know exactly what it is that you want to buy, where you want to buy it, what the make-up of the property consists of and what you want to do with it.
Once you have done that all you have to do is search for your ideal property.
Writing your plan will focus your decision making.
That is how you develop your property investment decision instinct.