Almost all successful investors and entrepreneurs have one thing in common, they always set goals and work hard in order to achieve the objectives. When you begin in an investment, whether if you are planning to be an active or passive player, you must clearly understand the mission and vision of your business venture before anything. In other words, set a clear objective regarding what you will want to achieve and then be determined to complete the task.
Having a property portfolio at hand may help generate a considerable amount of cash in monthly terms, where what most investors will do is to buy properties below market price and produce a profit at the end of their transactions. However with the current poor economy condition, this may not be as profitable anymore due to the downfall of property values and will probably sustain for another year or two.
Having said that, let’s take a look at some other alternatives. Since we are now apparently on the buyers market, this is definitely a good time to rip some profit from property rentals. Before that, ask yourself how much you will want to earn from your investments and what level of income will you need in order to sustain your current lifestyle and probably in the near future.