Day 22: Optimize Property Valuations Ensure your non-owner-occupied properties are accurately valued. Regularly update valuations to reflect changes in the market. The more data the better. Good resources can include places like Zillow or Redfin. You can also send Ridge Lending Group an address and we can pull a property profile with data direct from the county. But remember, if the property has recently undergone any renovation or rehab, cosmetic or something more substantial the comparisons you are looking at will not have any of that data so you won’t be comparing apples to apples in current baseline valuation.
Day 23: Stay Informed on Tax Deductions Stay informed about tax deductions applicable to non-owner-occupied properties. Maximize savings by taking advantage of eligible deductions.
Day 24: Celebrate Your Financing Achievements Celebrate the progress you’ve made in optimizing your financing strategy. Acknowledge your achievements and prepare for continued success in the coming year. This one sounds a little touchy feel but it’s important if for nothing else you acknowledge just to yourself some of your ‘wins’. This is NOT a hands off investment strategy, especially in the early stages. You should occasionally look up and say ‘Yeah! I did that!”
Day 25: Set Financial Goals for the New Year Establish financing-related resolutions for the upcoming year. Define clear goals to guide your investment strategy. Consider lessons learned and areas for further improvement in your non-owner-occupied real estate ventures. Caeli Ridge keeps a list on a 8×10 yellow note pad. Cross off, remove and add at least weekly what’s completed, changed or new.
