Real estate investing requires a clear strategy, not hope. Define your numbers first: understand the financial metrics and how a property fits your portfolio before buying, or you're just gambling.
Here are some things that we need to be thinking about when it comes to getting ourselves prepared to get— make sure we get the right deal and make sure it is actually going to be working in the portfolio as hard as it possibly can. First and foremost, all comes down to strategy. Like, without a strategy, you're just wandering around in the dark and hoping for the best. And for most people, when it comes to real estate, their strategy is simply this: they just buy and hope. You know, they walk into a property and they go, oh yeah, this looks good, I could live here, let's just buy this one. And then they literally hope like hell it goes up. And that's just gambling in my eyes, right? So, in order to be able to understand what your strategy is, you have to get clear on your numbers.
