Being flourished in property investment is always started with a best investment strategy. If you are looking for the excellent ways on how to be succeed in property investing, then the following article is a great place to commence. Continue reading for proficient steps on designing a best investment strategy for yourself so that you can finding your success in property investment field.
Step ➊: Find out your strengths and weaknesses
The first step you need to do is find out what are your strengths and weaknesses. Think about all the previous activities you have ever done. Try to thing of examples where the work seemed fun and easy for you, where people frequently complimented you on how good you were at doing tasks or jobs, where your ex-manager complaints about your works and duties, where you think that you couldn’t handle such duties or tasks due to over your limitation of ability, and etc. Doing this exercises will help you to find out your strengths as well as weaknesses.
Step ➋: How much returns you expect to make and how much money you have now to get started
There are some interesting investment strategies that to get started with no money down. While, on the another side, there are strategies that are impossible without any startup capital. Decide whether you want to spend money to get started or you want to do as much as possible but without spending any of your pocket money. Regardless of which investment strategies that you choose, remember to study its risks to see if you can afford of it.
Step ➌: How much involvement you want to have with your strategy (passive or active)
The term of “passive income” is residual income which is a strategy that require very little involvement to running your investment. On the flip side, there is a investment strategy that will require your constant involvement in order to be successful, it’s called as “active income”.
Let’s take stock option as an example. An active strategy would be buying a stock option where its lose value over time or even a minute, so with this strategy, time is working against you. While, the passive strategy to options investing would be the time you “sell” stock options. With this strategy, time is in your favor and once you sold the option you usually no need to do anything.
Step ➍: Search on different types of investing strategies
Googling “investment strategies” and you will get millions of results. The goal here is to get a list of the different investment strategies that are suitable for you. Gather as many strategies as you can find from internet and write down the strategies that you think its suit you. With this step, you will find out some interesting investment strategies. They are out there, just waiting to be discovered by you.
Step ➎: Further research on each strategy in your list
Once you got your list of different investment strategies, you’ll need to further research on each of them. Some of the strategies that you may already heard about and some didn’t. Either way do some research into these strategies to figure out have theses strategies meet the requirements from steps 1-3 above and close to your personality, then decide which one maintain in your list and which one should be eliminated.
Step ➏: Narrow your list down to 5, filter again then pick the top one
Once your list has finally come out with the 5 investment strategies, you’ll need to get even more information on these 5 strategies, figure out the pros and cons of each strategy, figure out the risks of each strategy, removed the strategies that fail at your final match. To determine the most suitable investment strategy for yourself, choose the investment strategy that most closely matches up with your personality and requirements from steps 1 to 3 above.
Step ➐: Take action on your investment strategy
Once you get the final strategy in hand, the one more step you need to do is to take action! Take action on your selected investment strategy and start making money on your property investment journey. Good Luck!
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