Soar to Success July 2018

SOAR TO SUCCESS -XO\ &RUH %XVLQHVV 6WUDWHJLHV ćRZLQJ RXW DUH FRPSULVHG RI H[SHQVHV VXFK DV mortgages, insurance, maintenance, repairs, taxes, utilities paid, and other miscellaneous items. Rate of return is the gain or loss generated on an investment compared to the amount of money invested. You can use this to compare the HIĆFLHQFLHV RI GLIIHUHQW LQYHVWPHQW SURSHUWLHV When you invest in real estate you are investing in yourself and your ability to earn more than by just investing in the market. Considering the risk involved it must be at least 10% compared to the S & P investment of around 8.6%. 2QFH \RX KDYH GHĆQHG \RXU EXVLQHVV VWUDWHJ\ and your business plan, your goal is to make your EXVLQHVV VFDODEOH DQG SURĆWDEOH %\ UHYLHZLQJ \RXU ĆQDQFLDOV RQ D UHJXODU EDVLV \RX DUH DEOH WR grade your investments to see how you are doing. Commit to a comprehensive approach to compiling \RXU ĆQDQFLDOV HDFK PRQWK DV LI \RX ZRXOG EH presenting it to your shareholders. Include components such as property management and D YDFDQF\ UDWH HYHQ LI \RX VHOI PDQDJH 2QFH complete, review components to make sure they DUH DFFXUDWH ([SHQVHV DUH ćH[LEOH DQG FDQ EH DGMXVWHG WR LQFUHDVH WKH FDVK ćRZ 0DLQWHQDQFH and repairs are the number one thing that sneak in and eat at your bottom line. Schedule an annual reviewof your property taxes, mortgage payments, and insurance. Successful businesses work not only in their business but on their business. Real Estate Investing is like sailing, we chart a course, leave the safe harbor for exciting adventures and are constantly trimming the sails. Great adventures happen when we leave safe harbor.