Creating a purchase plan is often the most overwhelming aspect of catering to the right tenants. What exactly does an ideal purchase plan even look like?
The right purchase plan allows you to grow your portfolio so that your property provides you with the income you’re aiming for. It provides you with structure so that you stay on track.
Follow these tips to create the perfect purchase plan:
• Identify your strategy
• List criteria to meet your strategy goals
• Do some research
• Shorten your list, if needed
• Get an appraisal of the property
• Take the time to understand the appraisal, and whether or not you agree with it
• Make an offer and be willing to negotiate for a better deal