Walking on thin ice is dangerous because you don’t take 3 steps – (1) prepare, (2) look under the surface & (3) have an exit strategy if you slip or fall.
To walk on “THICK ICE,” a solid foundation, take the 3 steps, Suzanne Hollander,Professor Real Estate® took when she hiked the thick ice of this Glacier in Patagonia, Argentina.
Step 1 – Suzanne prepared. She’s wearing crampons (special shoes to hike ice) and 3 layers of clothes. (Brrrr! she’s from Miami!).
Step 2 – Suzanne Looked Under the Surface. She confirmed the foundation was solid– its one of the world’s largest glaciers. (See photo below!)
Step 3 – Suzanne had an Exit Strategy ready if she Slipped or Fell. When she slipped, she used it to get up and keep going!
Suzanne recommends you take these 3 steps to walk on THICK ICE for your next real estate deal, whether it’s your 1st purchase of a home or condo, your 100th purchase of a commercial property or investment with friends.
Your Step 2 – Look Under the Surface – Dig into the numbers, does the purchase price make sense? Can you afford your monthly mortgage payments? If it’s a rental property, can you raise the rents or are you locked into long term leases?
Your Step 3 – Have an Exit Strategy – If you need to, can you sell tomorrow? At what price? Could you reposition the property to add value?
Remember, taking these 3 steps will help you make sure you are walk on “THICK ICE,” a solid foundation, for your next real estate deal!
Professor Real Estate® Suzanne Hollander provides real estate education to the nation to help everyone make smarter real estate decisions. Suzanne is a real estate attorney, broker, educator and commentator. Suzanne Hollander is a voice for real estate, housing and property rights, frequently quoted in the media, including Wall St. Journal Money Watch, YahooFinance!, Miami Herald, El Nuevo Herald, Wallethub, The Real Deal, Mercado De Dinero USA & Scotsman Guide Commercial Real Estate edition.
Contact Professor Real Estate® Suzanne Hollander for real estate coaching and training! She motivated and empowered 1,000s of clients, students and followers and she can help you meet your real estate goals!
To buy or lease property in Florida or Maryland contact Suzanne Hollander. She is a licensed Real Estate Broker in Miami, Florida with Hollander Realty LLC and a licensed Real Estate Sales Associate in Annapolis, Maryland with EKB Realty
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Disclaimer: Professor Real Estate® written materials apply generally to real estate subjects and are not intended to apply to specific legal issues. Copyright 2016. Professor Real Estate® Suzanne Hollander