A timeline is something we set ourselves to achieve an outcome other than the current status quo. When we apply this to property there are a lot of factors that come in to play especially in development or renovation. We may see a property and think after talking to one person that the job can be done within six months. The person sharing this information is, most likely, being honest with you but what you and they may not know is the timelines of those who you are going be working with on the project. This is where a time line on an investment property can start to waver. If the consequences of the timeline are starting to stretch your budget or if you’re sweating on the people, who are seemingly working against your timeline, then it’s time to stop and look at what’s not working. The timeline, budgets, expectations, and pressures are a part of life, even Barack Obama sweats it out sometimes. What we don’t realise is the flexibility that exists with constraints of a timeline. Though things may not be traveling so well with a property development, purchase, sale, or renovation there is the flexibility to change the status quo. This then turns your timeline into your friend rather than foe. Here a five Wise Unlimited tips that can work on real estate investments timelines in Toowoomba or elsewhere in Australia:
#Conjunct your time lines with the team of trades and professionals your working with.
#Keep a diary of dates and if someone tells you verbally they will have it done by Monday be sure to send written confirmation through via text or email to clarify with them that they or it is coming this Monday not Monday in a months time.
#Be flexible we are working with people with lives and challenges just like yourself. Most people will work extra hard to make up the delay or do something to balance the scales. Those that don’t, you will learn, that they are not the trade or service you are looking to work with anyway.
#Where is your focus? On the cost or the investment? By all means keep a check on your cash flow and budget. What you want to be working on is, the end result which in property is providing a property people will love for the lifestyle you provide, the business space you’ve created or the prosperity to be gained.
#Look for where you can gain time, prior preparation saves oodles of time. As does rolling you sleeves up and grabbing a shovel, hammer or extra trade if you are so inclined.
May time be your friend today !