In this week’s Cash Flow Friday tip I’d like to talk about the topic of allowing emotions to get involved when purchasing an investment property and why this can have disastrous consequences.
Over the years I have seen many investors make bad decisions on real estate purchases because they let their heart do the talking and didn’t focus enough on the numbers. What I mean by this is never fall in love with a building because it’s got great architecture or because it’s in the neighborhood you grew up in or how about a piece of raw dirt that you feel (no know) has a promising redevelopment future without knowing the facts.
Try to resist this so-called “falling in love” with any given investment property because I can promise you one thing – It will never love you back.
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- Yours Truly