F is for Forecasting
F is for Forecasting and Long-Range Planning
The difference between real estate and penny stocks is that real estate is a long-term play. Unlike a day-trader in the stock market, it rarely makes sense for a real estate owner to buy and sell and buy and sell quickly, thus decisions should be made with a longer-term investment picture in mind.
Forecasting thus become crucial. Taking into consideration the owner’s personal financial needs and goals, their cash, debt, liquidity and 1031 positions, the national, regional and local real estate markets, the national, regional and local economies, trends in different asset types and classes, new construction being proposed, the list goes on, develop a forecast or long-range plan to best meet those goals while considering all of the various market conditions.
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