REVIEW – Developing Your Skills
Your Study In Review:
- What is Grid Variance Analysis?
- What is the purpose of a “Rough Feaso”?
- What does Due Diligence consist of with regard to property?
Action Blueprint:
Real Estate Investing is a people activity. You need to be out there talking to people so the following tasks are designed to encourage you to do that!
- Looking at the locations that are suitable to your affordability and with in the distance that you are willing to travel to, Download the Grid Analysis Spreadsheet and start doing Grid Variance Analysis on the suburb of your affordable locations. From the results pick out 3 Suburbs that has potential for the 3 strategies you have chosen earlier.
- Look around your house to see what needs to have slight repairs or even changes of colour such as painting the fence or changing the colour of your tiles. Go to your local Bunnings or hardware store and ask them “How to…”. The main purpose of this exercise is just to get out there to start talking to Trades.
- Go to your local Real Estate Agent and ask them some questions related to the area you are looking as your potential Strategy Site. Ask for the Median House price of the area, what are the types of clients that are buying, what is the most popular type of property that is for sale, what is the usual turn around time from Listing to Settlement? Develop a list of questions and just ask one or two things at each Real Estate Firm.
Now we’ve reviewed your skills, let’s get into,
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