The Where, What, Why, When, Who, How; Can Power Your Financial Portfolio?
The Where, What, Why, When, Who, How Can Power Your Financial Portfolio?
The Where, What, Why, When, Who, and How Can Power Your Financial Portfolio? Jouralists educated and trained in their profession are taught to report the news. In addition, one of the essential training techniques introduced on the first day is the start of the foundation.
This foundation of journalism challenges the students to practice the 5 Ws: where, why, when, What, Who, and how.
Recently, I asked to be a guest on one of Canada’s favourite investment real estate podcast shows.
Where Should I Invest? host Sarah Larbi https://sarahlarbi.com/episode187
Above all, Sarah uses “Where” in the title of her podcast show. In addition, when you listen to the show, you find Sarah covers all the 5 Ws and the How. Sarah’s podcast is about investment real estate’s ins and outs.
Therefore, if you wonder how to power your financial portfolio, listen to the podcast above. Investment real estate might be your next opportunity.
Above all, think about the principles shared in the show. Be an investigative journalist and develop a plan to drive your financial foundation forward using the 5 Ws and How method.
The 5Ws and How
To help you get started, let’s do a quick recap:
Where?
The Place? If you are into Project Management, “where” is usually the last thing you consider. With investment real estate, we start with The Where. In the podcast episode above, we talk about investing areas.
As Sarah mentioned in the podcast, there are many factors to consider.
I have invested in three different markets, and each market differs from the others.
In my book, 31 Days to Purchasing and Renting Your First Investment Real Estate Property Day 8, chapter title “Home May Not Be Where The Investment Heart Is,” we discuss the Sweet Spots that help determine “where.”
What?
Determining your requirements in purchasing your first investment real estate property is critical.
I flush out the “what” in the first four chapters of my book. What are the four essential factors? What is investment real estate? Is this investment vehicle right for you, getting ready, understanding your finances, and having the finances to purchase investment real estate? What is the last factor, an entrepreneurial and small business mindset?
Why?
The where and what is priming your investment pump and bringing clarity to your midway point in powering your financial portfolio. However, before filling your investment bucket, you must review your why again.
Before you have made any financial commitment, you can delve into the drivers and benefits of purchasing investment real estate and your satisfaction.
When?
It can be your actual stumbling block. You may trip over all the information and numbers, leading to Analysis Paralysis, and never set a “When.”
On Day 18 in my book, we discussed SMART goal setting. The last element of SMART goal setting is the “T,” time-bound. By setting your “When,” you can make a date feel real and look more confident to your stakeholders.
Setting a date and completing a little early or later is okay because you are working around a completion date you have shared with all stakeholders, your “When.”
Who?
Who are your stakeholders, joint venture partners, resources team, and tenants? Who will ultimately benefit from purchasing and renting your first investment real estate property?
In my book, on Days 5, 19, 20, 21, and 26, we discuss all your stakeholders and the benefits.
How?
Purchasing and renting your first investment real estate property is your “How.”
How did it happen?
Using the 5Ws method, implement the 5W method with determination and persistence, let your ability to learn something new shine through, and power your financial portfolio.
About the author, W. Rick
Dynamic entrepreneur and sales management strategist; with over 20 years of experience in his field. Rick has achieved multimillion-dollar sales growth while providing award-winning sales leadership and coaching in highly competitive markets.
An active real estate investor since 2002, Rick has developed his purchasing strategies and processes specializing in vacation and recreational properties, single-family homes and condo rentals.
In 2005, Rick re-financed his first rental property to fund the purchase of more positive cash flowing rental properties.
Rick sits on the Board of Directors for several condominium associations and is an active President and Treasurer. Sitting on these boards has given him a wealth of experience and insight into working with property management companies.
Rick has partnered with several joint venture associates and is committed to creating a positive investing experience for his associates by finding the properties, developing the investment, securing the financing and executing a proven positive cash flow system.
Why should you choose Rick as your Online Vault to Investment Real Estate Success Advisor?
An outstanding mentor and coach, Rick will work with you to build your investment real estate business starting from the foundation. From guiding you through the market research and critical drivers, building your team of trades, realtors, and lenders to attracting the investment real estate properties right for your portfolio and the joint venture partners to help you grow.
Through direction and training, Rick will help you develop your investment real estate goals and be a catalyst for you to purchase your first investment real estate property so you can build a strong financial foundation unlocking sustainable wealth and a living legacy for you and many generations to come.
Thank you for taking the only asset that gives us so much through life, but we can never get back our time.
Please join Rick on living his mantra:
” Prosperity for all aspects of your life forever.” W. Rick Harris