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Updated almost 8 years ago, 02/16/2017
What's the ONE most effective daily action?
For a newb who is looking to:
- Partner with 1-2 other people with whom we can assemble the 4 necessary elements for a successful RE investment (1 - money; 2 - knowledge/skills; 3 - opportunity; 4 - time)
- Offer 3 of the 4 elements (except #1)
I am analyzing at least 1 property a day from the worst possible sources - MLS and FBSO sites; with no respectable way of getting comps. But it's a start and is giving me good practice at running the numbers.
I'm new to my local area; know very few people in person outside of my typical work circle and a few friends, none of whom are involved at all in REI.
My focus right now is on finding a property local to me (Denver metro area or Colorado Springs) that is a good prospect for a rehab with exit strategy of first selling as a flip and second, if that does not work out, selling as a solid buy-hold rental property. Second priority is how to find a good partner who is at or near my level with whom an opportunity can be shared. (Yes, I know, keep talking and meeting etc etc, it will happen. I'm not worried about that.) When I do find an opportunity, I know I can reach out for help with analysis, and if it is indeed a good opportunity, then the funding will be available.
What would you say is the one most important action to take on a daily basis? I am committed to taking small steps every day in a consistent habit; I believe this is the way to build a foundation for success. But I'm struggling to identify what is the best use of my time right now to build the most effective habit for a noob to be able to bring something valuable to the table.
If you had 1/2 hour every day to do ONE TASK or action what would it be?