A good deal is relative to the goals of the investor.
The first person who should be able to identify a good deal is yourself. Different investors have different goals, a good deal for someone might not be a good deal for you.
Before you look at buying, set some goals and strategies.
Think about what you want to get out of your investment. What is most important to you.
- Will you be getting appreciation?
- Will you be getting some cash flow out of it?
- Are you are going to capture some equity?
- Are you going to get a debt pay down?
- Will there be depreciation?
Which of these 5 things is most important to you? Least important?
Make sure that the deal aligns with the goals you have prioritized.
It is important to have a clear and definite understanding of your own goals so you can identify a deal that is a match. If a seemingly great deal presents itself, see if this great deal will help you reach your goals as an investor. Be patient and avoid buying a property just for the sake of buying.
If you need guidance on achieving your goals or if you need advice or strategies on formulating a business model that suits you, please don’t hesitate and give us a call.