5 Keys Essay

1508 WordsApr 13, 20127 Pages
5 Keys To Increase Your Wealth in 2012 COACHING 5 Keys to Increase Your Wealth in 2012 5 Keys to Increase Your Wealth in 2012 While the pundits may differ on what the future of real estate holds, you can make 2012 one of your best investing years by simply understanding and practicing a few key principles. Whether you are a seasoned investor or just starting out, applying the ideas discussed in this article can give you a distinct advantage this year and in the years to come. Key #1 – Understand Your Market’s Economy The real estate bubble “burst” over five years ago, but we’re still feeling its effects today. While the Nation’s poor economic health has created problems we all share, local areas also have their own economies. Understanding the local economy and how it influences the real estate market is essential to your success. What is the economic climate for the areas in which you are investing? For example, a recent look at the seasonally adjusted unemployment rates for each of the states sees a swing of more than 9%. In other words, while things are tough, they’re not tough all over. What is the job market like in your area? Are people having a hard time making ends meet and needing to find affordable housing? Or, have people weathered the storm and are now ready to get back into home ownership? From unemployment to the amount of foreclosure activity, the circumstances across the country can be as different as night and day. Your job is to understand your market’s economy in detail and conclude why it is what it is. Only by understanding the economy in your market will you be able to understand why things are the way they are and have a plan in place to capitalize on it. Key #2 – Recognize Influencers If Key #1 is looking back at what has happened and what is, then Key #2 is looking forward and predicting what will be.

More about 5 Keys Essay

Open Document