A "Peg in the Sand"
The way to do that is to put your "peg in the sand" as to what you want to accomplish financially. By doing this you will simplify your decision-making process with regards to your property portfolio.
What kind of peg in the sand am I talking about? Well, when you really cut to the chase, your 'peg in the sand' concerning your portfolio will either be income oriented or growth oriented.
Now, for some it may be a little of both, and truthfully, you should want it to be both. But for right now, while you're building your real estate portfolio, you will need to focus on one or the other.
In my experience working with thousands of people learning to invest in real estate, the vast majority of those begin as income oriented investors. That is, they are seeking to increase their monthly income, and are usually looking to replace the income they get from their current jobs rather than looking to increase the equity and value of their portfolio. Aiming to grow your income is completely logical and the correct place to put your peg in the sand.
However, to actually grow your income, you have to either increase the current income from the property or acquire more income properties, don't you? But to do either, you will likely need capital to do it (unless you obtain seller-financing).
And how do you acquire more capital?
Some of you may be able to get the capital from your family, but that's not the case for most people. You can also build it up slowly with savings from your job. Or, if you already have an income property, you can build it from that as well. But you can also convert any assets that you may have, into capital.
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