So, I’ve been in real estate investing for almost a decade. I made it through the crash in 2008 and have seen it all. So as you could imagine, I get asked all the time, knowing what you know now, what I would do if I had to start all over tomorrow?
Well, here goes.
1. I’d assess my cashflow:
The first thing you do when starting off in real estate investing is take stock of how much cash you have. Are you sitting on a fat bank account that allows you and your family to survive while you learn how to do this?
- What will your personal and business expenses be over the next 6 months?
- What’s your cost of living going to be?
- Are you like 31 and living with your ex girlfriend for free in her apartment?
- Do you have money to support yourself and your family? You’ll need it.