Being the early part of the year, we have gotten a rush of clients, trying to achieve their real estate investment goals by JUST investing in real estate. A question that’s often asked is, ‘what’s the best area to invest in?’ This is a highly subjective question that depends on the following:
- The budget
- Reason for investment (buy, rent or invest0
With the above in mind, an individual will find it easier to stream line their real estate goals as it suits them. In order to do this we recommend that you set S.M.A.R.T Goals for this year.
S – SPECIFIC
Be as specific as possible. What exactly do you want to achieve this year?
e.g. I want own an investment property this year worth N30,000,000
M – Measurable
Break your major goal into sub goals by setting yourself weekly or monthly targets to achieve your desired overall goal.
e.g. “I will view 3 properties with Wren Regent in February” OR “I will save N100,000 a month”.
A – Achievable
Is your goal realistic? You must set things that you can actually do. No point leaning towards an apartment in Banana Island worth N150,000,000 when your income is limited to achieving that.
R – Relevant
Where does you goal fit in your life? Is it relevant at this stage? Maybe renting is a better option for you now than buying, to give more wiggle room for expenses.
T – Timed
How long are you giving yourself to make you real estate MOVE?
Streamlining your real estate goals by setting S.M.A.R.T goals, will give you a good idea of the best area suited for your current cash flow and investment desires.