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Why You Need to Have Financial Goals When Investing in Real Estate

Savvy investing in real estate requires setting goals. That is because the destination has to be known before the road to get there becomes clear. First, it will force the investor to know their current financial status. It will also shape decisions about how long to hold onto a property, and will keep the investor from making emotional decisions that leads them to an over-extension of debt. Without those goals, the investors will just wander around making purchases without objective facts to guide them.
Know the Big Picture
One of the best benefits of setting goals for investing in real estate is that it forces the investor to do a complete analysis of their current financial status. There is just no way to know how long it will take you to reach a goal, or how much initially to invest, if the starting point is not known. This involves tracking …