Ask Yourself a lot of Questions Upfront

Here's some questions to consider asking yourself to start out with:

​

• What kind of property are you looking for?

• Are you looking to use the building for your own business, rent it out, build equity, and/or something else entirely?

• What kind of location do you need?

• Do you need to buy or could you lease the property?

• What's your situation regarding cash, financing, and/or ability to make a down payment?

• Would you be willing to partner with someone else on the property?

• Would you be willing to partner with someone else on the property?

• What's your risk tolerance?

• How much time can you commit to the property?

• How much work are you willing to put into the property?

• What skills/knowledge are you bringing to the table?

• What skills/knowledge will you need to hire experts for or contract out?

• What kind of property manager might you need (or not)?

• Are you willing to do the duties of being a landlord?

• Finally, are you ready/willing to make a investment/purchase of this size?