Writing down your real estate investment criteria means writing down your needs and wants in a real estate deal. It means outlining what you are looking for in a real estate opportunity. Having written criteria can help you grow as an investor and can make it easier for you to land the best real estate deals.
If you to join the ranks of real estate investors, you might want to have formal written investment criteria set out for yourself. Putting your investment criteria in writing allows you to see at once whether possible investment opportunities do or do not fit your future plans. This allows you to quickly sort through potential opportunities to pinpoint the right ones.
Writing down your investment criteria also hones your focus and ensures that you have an easier time finding the best possible deals. Having written criteria also allows you to share your criteria with other real estate investors, so that you can learn from them. If you haven't yet outlined exactly what your criteria are for selecting an investment property, now's the time to put pen to paper.
When developing your written criteria, consider when you do not want to make an investment. What is the bottom line? Do you not want to make an investment at any time if you don't understand it? Do you want to never make investments that you cannot pay for if everything goes wrong? Do you never want to make an investment where you cannot handle the worst-case scenario? Determine your comfort boundaries and the level of risk you are willing to accept or not accept, and put this in writing.
Next, when developing your written investment criteria, consider what your ideal investment would be like. What do you do to make sure that your investments are the best possible deals for you? Do you do a certain amount of research using specific sources? If so, write this down. Outline on paper the best real estate deal you ever put together. What were the steps you to that in to be an outstanding investor in that situation? What if you applied the same steps to every real estate deal you made? Would you generate more success from other opportunities? If so, outline exactly what you do when you are at your investment best, and add this to your written criteria. This will help ensure that every deal will at least have the opportunity of becoming as successful as your best deal ever.
Write down your money criteria. Where are you willing to go for financing? How much capital are you willing to put at risk? How comfortable do you feel taking risks with your money? What levels of risk are you willing to take? How are you going to secure your deals? Knowing how you will handle money is very important to you as an investor.
Finally, and maybe most importantly, outline the standards by which you wish to live as an investor. What are the ethical boundaries you're not willing to cross? What you want to stand for as an investor and what sort of person do you want to be as an investor? This may seem abstract and very much up in the air, but it will help you outline exactly the sort of investment opportunities you want to capitalize on. The best real estate investors have a code of conduct, so you should, too.
Related Articles
Curb Appeal is Key to Real Estate Investing
By: Brad Wozny – INSTANTRealEstateSolutions.com | 12/05/2008 | Business
To sell a property for profit, you need to ensure that your property is attractive, and a large part of that is making a first great impression. Make sure that your property makes a great impression from the curb by cleaning, repairing, and using good color contrast.
What's the Value of a Real Estate Blog for Investors?
By: Brad Wozny – INSTANTRealEstateSolutions.com | 16/05/2008 | Real Estate
Developing a real estate blog allows you to build your business by building up a regular readership of investors and potential buyers. Unlike a website, a blog can bring you more business because people are more interested in the casual tone of blogs and are more likely to read blogs regularly.
Selling Your Investment Property in a Slow Market
By: Brad Wozny – INSTANTRealEstateSolutions.com | 20/05/2008 | Real Estate
If the market is slow, you can still sell your property if you make your listings and signs professional and appealing. Make sure that your flyer is intriguing and well put together as well.
Finding Buyers for Investment Properties
By: Brad Wozny – INSTANTRealEstateSolutions.com | 12/05/2008 | Business
To find buyers for your properties, get to know other investors who would be interested in buying from you. Do this by developing an identity, looking through title records to find other investors, developing a marketing strategy and contacting investors who advertise via street signs.
Make Money in Real Estate
By: Brad Wozny | 16/06/2008 | Real Estate
real estate is looking up and those who have invested wisely in real estate a long while ago, are getting good returns on their investments.
Jobs in Real Estate in India
By: Matinez | 14/05/2008 | Real Estate
Profession of real estate has expanded and provides one of the widest career selections in the business world today. The employer always looks for candidates with excellent academic background and offers preferences to those with a professional degree and diploma in the field, good interpersonal and communication skills.
Real Estate Investing
By: Brad Wozny | 18/06/2008 | Real Estate
Real estate investing is not about getting rich overnight. It works out profitable in the long run provided you understand the nuances of the business. Time, patience and hard work are the three pillars you need for real estate investing.
Today's Real Estate Market: Gold at Silver Prices
By: Don Conrad | 18/11/2007 | Real Estate
If you want to get into real estate investing, now is the time to buy. The downward spiral of real estate values bought on by the crash of the sub-prime lending industry and the number of foreclosures hitting the market is providing great opportunities to real estate. Experts are predicting this to be the second worst fall of values since the depression.
Got a Question? Ask.
Ask the community a question about this article:
Frequently Asked Questions
I need to calculate the value of the land
By: Melanie Daye | 09-07-2008
how to read a land survey?qt=q If the land is 80 width and 120 long is it 9600 sq feet?
RV lot on Osage River, Missouri
By: Bill | 09-07-2008
I am looking for a lot to rent or buy with full utilities on the Osage River in Missouri for my motorhome.
Required documentation for a construction project-apartment complex
By: Kwhb. Llc | 09-07-2008
I am interested in starting in the construction industry building apartment complexes for "low income" level apartment renters. That is, renters who can't afford the "higher" down payments/secuirty deposits, but nonetheless must pay rent to someone somewhere. I feel that this is a greatly neglected market, with has been virtually untapped in areas I'vd lived in. I need information concerning the documentation processes to get started.
Vesting title
By: patrick | 09-07-2008
how do I change title from joint tenants to tenants in common on real property located in Los Angeles county, Ca.?
Fnma listings
By: delcogw | 09-07-2008
how does a real estate broker register for repossed home listings owned by the federal nat*l mort. assoc.
For anyone living at vistazo town homes in boca ...
By: Pravin | 08-07-2008
For anyone living at vistazo town homes in boca raton fl, how well are the homes build. Can one hear your neihbours through the walls since homes share walls. I am mainly concernes about noise level from the neighbours
Q&A Powered by:
Latest Business Articles
The Basics of Creating a Filing System That You Can Benefit From Starting Today
By: Tracey Lawton | 19/07/2008
In my brand-new article, I'm going to share with you 7 easy steps for getting your filing system in place. The summertime is generally a quieter time with a more slower pace of business, so use this time to get one of your core office systems in place.
The 9 Things You Will Want to Include in Your Email Newsletters
By: Katrina Sawa | 19/07/2008
You probably get numerous newsletters across your desk each month. How many of those do you really read? I am sure that you scan certain newsletters for valuable information, while you just toss others. Then, of course, there those like mine (chuckle), which you read every last word of.
How to Establish yourself as an Expert
By: Katrina Sawa | 18/07/2008
Establishing yourself as an Expert in your field is a great way to get added exposure, publicity and credibility for you and your business which will ultimately bring you more sales and more money!!
Women Owning the Workplace: Tips to Guide Female Entrepreneurs
By: Melissa Mashtonio | 18/07/2008
Women are taking the business world by storm, and it doesn't look like they're backing down. According the Womenentrepreneur.com, women-owned firms are the fastest growing in the country. Women are looking beyond the traditional roles and moving ahead to a new role: entrepreneur. This does not necessarily mean women are...
Getting Ahead in the Construction Industry
By: Duncan Freer | 18/07/2008
With new regeneration and Government housing targets, the construction industry is facing the toughest challenges yet. With new projects in commercial and residential developments, growing pressures for sustainable and low impact development and the need for low cost housing, better and faster results are being expected from everyone involved in...
Getting Ahead In The Rail Industry
By: Duncan Freer | 18/07/2008
The rail industry is a greener alternative for travel than any other method at the moment, and as a result is beginning to see an increase in investment and public interest. With the Government and business regulators placing such a huge emphasis on offsetting personal and private carbon emissions it...
Getting Ahead in the Utilities Industry
By: Duncan Freer | 18/07/2008
The Utilities industry is currently facing rapid change and is having to adapt to the many new demands made on it by existing and potential customers. Once dominated by state-run monopolies, the utilities sector of the twenty first century is shifting to respond to emerging competitors who are increasingly savvy...
Recessions Require Leadership From the Core!
By: Axel Meierhoefer | 18/07/2008
When things are going tough, leaders need to step up and deliver more than every. LEading fomr the core is what we need to succeed
More from Brad Wozny – INSTANTRealEstateSolutions.com
Selling Your Investment Property in a Slow Market
By: Brad Wozny – INSTANTRealEstateSolutions.com | 20/05/2008 | Real Estate
If the market is slow, you can still sell your property if you make your listings and signs professional and appealing. Make sure that your flyer is intriguing and well put together as well.
Stay Safe With Contractors When Flipping Houses for Profit
By: Brad Wozny – INSTANTRealEstateSolutions.com | 16/05/2008 | Real Estate
Investors interested in refurbishing and reselling distressed properties often want inexpensive repair work, but it is important to avoid a contractor scam. Any contractor who offers significant discounts, makes large promises, asks for a lot of money up front, or wants to work without a contract should be avoided.
What's the Value of a Real Estate Blog for Investors?
By: Brad Wozny – INSTANTRealEstateSolutions.com | 16/05/2008 | Real Estate
Developing a real estate blog allows you to build your business by building up a regular readership of investors and potential buyers. Unlike a website, a blog can bring you more business because people are more interested in the casual tone of blogs and are more likely to read blogs regularly.
Curb Appeal is Key to Real Estate Investing
By: Brad Wozny – INSTANTRealEstateSolutions.com | 12/05/2008 | Business
To sell a property for profit, you need to ensure that your property is attractive, and a large part of that is making a first great impression. Make sure that your property makes a great impression from the curb by cleaning, repairing, and using good color contrast.
Finding Buyers When House Flipping
By: Brad Wozny – INSTANTRealEstateSolutions.com | 12/05/2008 | Real Estate
If you are flipping a property, you need to find buyers fast in order to make money. You can find buyers quickly by meeting investors and other potential customers at local business events and auctions and by building online mailing lists that you can send to potential buyers.
Finding Buyers for Investment Properties
By: Brad Wozny – INSTANTRealEstateSolutions.com | 12/05/2008 | Business
To find buyers for your properties, get to know other investors who would be interested in buying from you. Do this by developing an identity, looking through title records to find other investors, developing a marketing strategy and contacting investors who advertise via street signs.
Business 
| Posted: 12-05-2008 | Comments: 0 | Views: 3 | Rating: (152) 
(?) 
