Have you been seeking a new opportunity that is equal parts lucrative and enriching? If you are one of the many people looking for the American dream, it’s time to make a plan to become someone who obtains it! One of the best ways to do so is by learning from someone who has already done it! That person is Jacques Poujade.
For over thirty years, Jacques Poujade has worked to achieve a long term, lucrative career. With experience in real estate, investment, and lending, Poujade has dedicated his professional life to expanding and communicating his knowledge in the financial fields.
Holding a belief in the power of communicating his three decades of experience, Poujade wants to share his knowledge. If you’re looking to take the next step into a booming industry with endless opportunity, he’s ready to share his insight.
Whether you’re a real estate novice or a seasoned professional seeking for new opportunities, purchasing a rental property is a great next step in this lucrative field full of opportunities!
If you’ve made it this far, you’re already a step ahead! By taking the step to research and prepare for your new endeavor, you’ve already demonstrated the first tip to being successful. With Jacques Poujade’s list of what you need to know before buying your first rental property, you can go into the field with the confidence of having learned from an expert.
As a leader in the field, Jacques Poujade is here to share 4 things you need to know before buying your first rental property.
Prepare
Investing in your first rental property isn’t a small feat and proper preparations should be made. Whether it’s ensuring all of your personal finances are lined up in a manner that allows your new enterprise or simply having done the appropriate amount of research into the process and property, allowing yourself the time to properly prepare is crucial.
Return on Investment
When chosen thoughtfully, the correct rental property can offer a lot in return. However, understanding the risks and possibilities is important. When researching potential return on investment, or ROI, you should ensure that you’re factoring in the base finances, unexpected circumstances, and time. If you’re currently working on several projects, you should also ensure that you’re able to manage your time wisely. The more passionate you are for your property, the more return you’ll receive. By doing the proper research, you can find and purchase the perfect property!
Communicate
While it may sound like an old adage, communication is the key to success. Whether taking the time to chat with fellow investors or meeting with residents of potential neighborhoods, you’re gaining knowledge that can’t be acquired from a book or article. This gift of gab can provide insight into projects that only conversation can give. Is the neighborhood good for families? Are they building a new shopping center? The answers to these questions could allow you to better understand the extent that you can market your property.
Keep Learning
There is one key difference between those who experience short term success versus long term success: new knowledge. You will never know enough to stop learning. With this mentality, you will always acquire new knowledge and, in turn, new success. While the field is competitive, by staying on top of trends and changes, you can be at the forefront before you know it!
Now, it’s time to take these tips and prepare to take the next step into your bright future!