It’s funny, every year you layout a plan, hopefully in-sync with your strategic plan…Start the year, monitor the plan through out the year, reach December and celebrate the wins/review the losses. Then it’s January and you start out at zero again…with the blessing of a clean slate as well as the mountain of a new year to scale!
This year, people are confused about where the economy is going, concerned about Europe, pretty certain that Congress and White House are not going to work together. Man, sounds like deja vu all over again!!!
Bright spot is the Apartment Buildings especially if you are a Canadian buying the US. At all time lows we have: (1) building permits for new construction (2) Interest rates are at an all time low ensuring most well chosen buildings will Cash Flow! (3) The $USD vs $CDN
Then you have Cap Rates are as much as three times what you can find in good Canadian markets. Plenty of product, though more good buildings are going into a kind of auction process. Which means you have to have good credentials (ie. Proof of funds, experience in this industry, a track record of closing…)
Next month will cover how to find partner to guide you thru the maze!
A wiseman once said “Opportunity is every where…it’s what you do with it that counts.”