Previous Principle

71. Go With Boring

Next Principle

As an investor, you are not investing in your dream home. Instead, within your price range, your goal is to own the best six income-producing properties with the broadest appeal to the widest demographic of potential tenants.

Know your market and your target tenants. Are your primary tenants young professionals, empty nesters, or blue-collar families? Will your tenants have children or will you allow pets? Select your properties accordingly from studio condos to luxury townhouses.

Considering your tenants, your budget, your rental level, your location and your competition can/should/must you offer dishwashers, air conditioning, in-unit laundry, pool, gym, doorman, grill areas, playgrounds, Wi-Fi, high-end appliances, garages or off-street parking? Of course, being frugal yourself, you appreciate that tenants don't want to pay for amenities that they aren't going to use. Absolutely, lower rents are the best competitive tool.

In real estate investing, you may not need the "wow" factor. Boring can be okay. Your goal is to own a small portfolio of money making machines churning out income. Satisfied tenants paying rent.

#!/usr/bin/perl print "Content-type: text/html\n\n"; print << "htmlblock";
Enroll in the American Success Institute
Buy Books

ytldytld YouTube Twitter Facebook The Action Principles (r)