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Homes For Sale By Owner

Major Factors Behind the Residential Real Estate Investment Principal’s Success

If you have had the opportunity to read “Good to Great” you are familiar with the hedgehog concept. This is the idea that the most successful companies select and manage to a set of self enforcing values and driving principles. In so doing their success becomes something of a self fulfilling practice. Principals and their investments are much the same. Although because of the narrowness of the subject areas these self fulfilling concepts are perhaps more easily identified.
Successful principals are narrowly focused on a set of characteristics that define successful projects for them. Characteristics could include age of the property, construction type, amenities or lack thereof, location factors, traffic factors, number of units, required or potential improvements.
Successful principals have a management approach that parallels and supports the project plan. For example, the management could be heavily sales focused with larger than normal advertising budgets, additional sales training, and …