How to set 2023 goals for a strong year of real estate investing!

As 2023 begins, it’s a perfect time to take stock of your financial progress over the past year. By assessing what you have achieved financially and identifying areas for growth, you can make strategic investments that will drive even greater gains forward. Now is an opportune moment to refine your goals and kickstart developing a more expansive wealth portfolio in this new year!

An impressive 90% of people who set challenging goals outperformed their peers according to a Locke and Latham study, showing the powerful potential for success found in setting ambitious objectives.

Many High-net-worth individuals seek to secure wealth for generations by creating diversified portfolios, and real estate investments can provide an effective solution. These opportunities offer the potential for growth while still allowing a certain level of flexibility.

Whether you’re an experienced investor or just starting, there are always ways to home in on smarter decision-making and maximize worthwhile risks.

Make this the best investment season yet with some achievable resolutions that can help take your passive real estate portfolio to new heights.

1. Define your financial goals
   
   Before taking the first step into real estate investments, it’s important to identify what your ultimate goal is. Ask yourself “How do I want this investment to benefit my future?” Common goals for investors include creating college savings funds for their children, retirement funding strategies, and diversifying away from stock market volatility — all to attain financial freedom in the longer term. Consider these objectives as you craft your individualized plan of action!
   
   
2. Perform your due diligence
   
   When it comes to passive real estate investing, many are under the illusion that success will simply arrive with minimal effort. Unfortunately, without proper due diligence, even the most experienced REI professionals cannot guarantee a profitable investment outcome! It’s vital for investors – both active and passive alike – to do their research to increase their chances of achieving successful returns on investments.
   
   
3. Consider tax-favorable investment solutions
   
   Did you know that most self-made millionaires made their money through real estate? Yes, believe it or not, this is the reality of being a passive investor. And one of the reasons this is true is the tax code! The IRS understands how vital real estate investing is. It keeps the economy alive, offers quality housing for people to live in, and makes the market a better place for investors.
   
   Thus, the tax code is written in a way that rewards real estate investors for their endeavors. 
   
   
4. Invest in yourself and your education
   
   Real estate investing education is more than an opportunity to simply learn; it’s a powerful force that has enabled many successful investors to achieve success. Knowledge not only unlocks new possibilities but also serves as a foundation for success – allowing investors to approach investments confidently with forward-thinking strategies that yield tangible results.
   
   By taking the initiative and continuing one’s pursuit of knowledge, there are virtually no limits on what can be accomplished in real estate – so make sure you take advantage of every educational resource available!
   
   

With the start of a new year, now is your opportunity to look back on accomplishments and forward toward plans. It’s easy for resolutions to become lost in the shuffle come February, so by getting organized from Day One, you’ll have an advantage over other investors as we venture into 2023.

Make this your best real estate investing year yet: prioritize goals and stay focused with New Year’s Resolutions crafted specifically for success in the coming months.

 

ABOUT ASTOR

Astor Realty Capital provides commercial real estate investors with outstanding opportunities to grow their wealth. Astor’s strategy of investing capital in high-quality ventures is designed to generate and preserve capital for partners by offering higher returns than the industry average.

Currently invested in 3.5 million square feet and $2.1 billion of commercial real estate across 12 sub-markets, Astor continues to prove itself as a reliable and successful investment firm, consistently delivering returns that surpass the industry average.