Make Sure You
Know Where You Want To Be Now AND In The Future Realistically
Darin Garman, CCIM
Copyright 2006 All Rights Reserved
I just finished a transaction that made
the buyer a lot of money. The bottom line is the buyer bought the property
and made tens of thousands of dollars in value at the closing table.
All this sounds good, and it is. Here is the
interesting thing the buyer figured out. He could have purchased more units,
could have borrowed more money at 7%, and could have increased his holdings.
But, he didn't. Why would a guy not increase his
holdings and possibly make even more money at the closing table? He is
realistic in regarding the amount of time he has to devote to his properties
and run them well.
We all know that people who are increasing their
holdings are running ragged trying to keep up with everything. We all tend
to be optimistic and end up underestimating the complexity and time that it
will take to add more units to what we already have.
So, before you add more units take a time inventory,
think about how much more can you really devote to your business. Can you
delegate? Can you leverage your time by adding some staff, etc? Make these
decisions before you buy your next property, not after.
If you have not taken advantage of my special
limited time offer for a 2 month complimentary "test drive" of the CIPOA
Platinum Club Membership, here is another opportunity to see what you have
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