Not all city denizens would leave the comfort of their homes though. Some of my friends just stay at home and enjoy their own private, quiet bubble there. I really can’t blame them. Beaches may be filled to the brim with people, and some of us are not cut out to squeeze themselves into that crowd. (Disclaimer: I love the beach!)
It’s the perfect opportunity to do just that. The city is quiet and you’ll be away from the usual hustle and bustle of all the people around you. You’ll be free to focus your mind and do something worthwhile. So let’s talk about what those worthwhile things could be:
1. Review First Quarter Performance
Any investor worth their salt should be tracking deal metrics (like purchase price, rental income, and capitalization rates) over different periods. March just ended, and for a small to medium operation, the primary investor would be able to do a quick review of Q1 performance.
The reviews like this would help you find out where you are and compare it to your budget for that period. Should you find the results lacking, that only means you have to ramp up performance after the holidays are over.
The best, new ideas could come out from unforeseen relationships between two different fields. Even if you consider yourself a focused real estate investor, you could still do well by exploring other fields for your next, investment idea.
It’s just the start of the week, so you could still go to the newsstands and purchase for yourself a couple of trade magazines … even pop magazines may serve as the spark for your next investment idea.
If you missed the stores being open, I recommend going through reddit.com or digg.com. Or, if you have a smartphone, try going through Flippa. Each of these contain a lot of articles that could potentially reignite your imagination for investment ideas.
In the last article, we talked about the using investment checklists to go through deals with a fine-tooth comb. Or at least, as thoroughly as possible.
That list is in no way comprehensive. It might have missed certain areas where you should look into if you start looking for different investments. Now that you have some quiet time to really think things through, why not develop your own checklist, based on your experience and what you can glean from other real estate brokers.
The final, and possibly the most important tip, is to meditate.
Studies have repeatedly shown that correct meditation leads to significant improvements in the brain. The changes that occur can lead to better decision making and emotional control, two of the most crucial elements in getting successful deals.
All of these tips are designed to give you at least up to 4 days of holiday work. But, you could use them on any holidays or practically anytime you are free. Doing all of these will surely kick-start your 2nd quarter, 2016, in a way brighter note.
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