{"id":4717,"date":"2016-12-20T01:56:44","date_gmt":"2016-12-19T14:56:44","guid":{"rendered":"http:\/\/www.trc-gorod.ru\/?p=4717"},"modified":"2020-05-25T11:23:24","modified_gmt":"2020-05-25T01:23:24","slug":"do-these-7-money-management-tasks-before-investing-in-houses","status":"publish","type":"post","link":"https:\/\/trc-gorod.ru\/do-these-7-money-management-tasks-before-investing-in-houses\/","title":{"rendered":"Do These 7 Money Management Tasks Before Investing in Houses"},"content":{"rendered":"

[et_pb_section bb_built=”1″ admin_label=”Section_2_Text Left:” transparent_background=”off” background_color=”#f7f7f7″ allow_player_pause=”off” inner_shadow=”off” parallax=”off” parallax_method=”off” padding_mobile=”off” make_fullwidth=”off” use_custom_width=”off” width_unit=”on” custom_width_px=”1080px” custom_width_percent=”80%” make_equal=”off” use_custom_gutter=”off” fullwidth=”off” specialty=”off” disabled=”off” custom_padding_tablet=”50px|0|50px|0″ custom_padding_last_edited=”on|desktop” inner_width=”auto” inner_max_width=”none”][et_pb_row make_fullwidth=”off” use_custom_width=”on” width_unit=”on” custom_width_px=”768px” custom_width_percent=”80%” use_custom_gutter=”off” gutter_width=”3″ custom_padding=”60px|60px|60px|60px” custom_padding_phone=”40px|20px|40px|20px” padding_mobile=”on” background_color=”#ffffff” allow_player_pause=”off” parallax=”off” parallax_method=”off” make_equal=”off” column_padding_mobile=”off” parallax_1=”off” parallax_method_1=”off” parallax_2=”off” parallax_method_2=”off” parallax_3=”off” parallax_method_3=”on” parallax_4=”off” parallax_method_4=”on” custom_padding_last_edited=”on|phone” disabled=”off” background_position=”top_left” background_repeat=”repeat” background_size=”initial” width=”80%” max_width=”768px”][et_pb_column type=”4_4″][et_pb_post_title admin_label=”Do These 7 Money Management Tasks Before Investing in Houses” title=”on” meta=”on” author=”on” date=”on” date_format=”M j, Y” categories=”off” comments=”off” featured_image=”on” featured_placement=”below” parallax_effect=”on” parallax_method=”on” text_orientation=”left” text_color=”dark” text_background=”off” text_bg_color=”rgba(255,255,255,0.9)” disabled_on=”off|off|off” title_font_size=”36px” title_font_size_phone=”28px” title_font_size_last_edited=”on|phone” title_text_color=”#00afff” title_all_caps=”off” meta_text_color=”#95989a” use_border_color=”off” border_color=”#ffffff” border_width=”1px” border_style=”solid” custom_margin=”||40px|” disabled=”off” parallax=”on” \/][et_pb_text admin_label=”Text_B:” use_border_color=”off” disabled=”off” background_position=”top_left” background_repeat=”repeat” background_size=”initial” _builder_version=”3.22.2″ text_text_shadow_horizontal_length=”text_text_shadow_style,%91object Object%93″ text_text_shadow_vertical_length=”text_text_shadow_style,%91object Object%93″ text_text_shadow_blur_strength=”text_text_shadow_style,%91object Object%93″ link_text_shadow_horizontal_length=”link_text_shadow_style,%91object Object%93″ link_text_shadow_vertical_length=”link_text_shadow_style,%91object Object%93″ link_text_shadow_blur_strength=”link_text_shadow_style,%91object Object%93″ ul_text_shadow_horizontal_length=”ul_text_shadow_style,%91object Object%93″ ul_text_shadow_vertical_length=”ul_text_shadow_style,%91object Object%93″ ul_text_shadow_blur_strength=”ul_text_shadow_style,%91object Object%93″ ol_text_shadow_horizontal_length=”ol_text_shadow_style,%91object Object%93″ ol_text_shadow_vertical_length=”ol_text_shadow_style,%91object Object%93″ ol_text_shadow_blur_strength=”ol_text_shadow_style,%91object Object%93″ quote_text_shadow_horizontal_length=”quote_text_shadow_style,%91object Object%93″ quote_text_shadow_vertical_length=”quote_text_shadow_style,%91object Object%93″ quote_text_shadow_blur_strength=”quote_text_shadow_style,%91object Object%93″ header_text_shadow_horizontal_length=”header_text_shadow_style,%91object Object%93″ header_text_shadow_vertical_length=”header_text_shadow_style,%91object Object%93″ header_text_shadow_blur_strength=”header_text_shadow_style,%91object Object%93″ header_2_text_shadow_horizontal_length=”header_2_text_shadow_style,%91object Object%93″ header_2_text_shadow_vertical_length=”header_2_text_shadow_style,%91object Object%93″ header_2_text_shadow_blur_strength=”header_2_text_shadow_style,%91object Object%93″ header_3_text_shadow_horizontal_length=”header_3_text_shadow_style,%91object Object%93″ header_3_text_shadow_vertical_length=”header_3_text_shadow_style,%91object Object%93″ header_3_text_shadow_blur_strength=”header_3_text_shadow_style,%91object Object%93″ header_4_text_shadow_horizontal_length=”header_4_text_shadow_style,%91object Object%93″ header_4_text_shadow_vertical_length=”header_4_text_shadow_style,%91object Object%93″ header_4_text_shadow_blur_strength=”header_4_text_shadow_style,%91object Object%93″ header_5_text_shadow_horizontal_length=”header_5_text_shadow_style,%91object Object%93″ header_5_text_shadow_vertical_length=”header_5_text_shadow_style,%91object Object%93″ header_5_text_shadow_blur_strength=”header_5_text_shadow_style,%91object Object%93″ header_6_text_shadow_horizontal_length=”header_6_text_shadow_style,%91object Object%93″ header_6_text_shadow_vertical_length=”header_6_text_shadow_style,%91object Object%93″ header_6_text_shadow_blur_strength=”header_6_text_shadow_style,%91object Object%93″ z_index_tablet=”500″]<\/p>\n

Once you\u2019ve decided to create financial freedom through investing in houses it\u2019s time to take action.<\/span><\/p>\n

But before you start to scan through house listings looking for the right opportunity, take a good look at your personal money management skills.<\/span><\/p>\n

Are you really ready to become a property investor?<\/span><\/p>\n

Do you…<\/span><\/p>\n

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1.<\/span> Watch your spending?<\/span><\/h3>\n

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One thing you\u2019ll quickly learn when you start investing in houses is how to prioritise your spending.<\/span><\/p>\n

What you had in terms of surplus cash will need to be managed more judiciously than you may have done in the past.<\/span><\/p>\n

[\/et_pb_text][et_pb_image admin_label=”Image_384px” src=”https:\/\/www.trc-gorod.ru\/wp-content\/uploads\/2016\/12\/shutterstock_455165836.jpg” alt=”Have a budget” show_in_lightbox=”off” url_new_window=”off” use_overlay=”off” sticky=”off” align=”left” force_fullwidth=”off” always_center_on_mobile=”on” use_border_color=”off” border_color=”#ffffff” border_width=”1px” border_style=”solid” custom_css_main_element=”max-width: 384px;” disabled=”off” animation_style=”slide” animation_duration=”500ms” animation_intensity_slide=”10%” animation_direction=”left” show_bottom_space=”on” \/][et_pb_text admin_label=”Text_H3: ” background_layout=”light” text_orientation=”left” header_font=”Open Sans||||” use_border_color=”off” border_style=”solid” disabled=”off” saved_tabs=”all” background_position=”top_left” background_repeat=”repeat” background_size=”initial”]<\/p>\n

2. <\/span> Have a budget?<\/span><\/h3>\n

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You don\u2019t have to track every last cent…unless you want to…but you should have a budget that can be easily adjusted once you begin investing in houses.<\/span><\/p>\n

In fact, it\u2019s a good idea to consult with a property mentor or financial planner before buying an investment property. He can help you come up with a projected budget to try out for size.<\/span><\/p>\n

This can give you a good indicator of what your lifestyle will look like once you\u2019ve started investing in houses.<\/span><\/p>\n

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3.<\/span> Have emergency money set aside?<\/span><\/h3>\n

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Whether you\u2019re investing in houses or not, building up an emergency fund should be at the top of your money management list.<\/span><\/p>\n

Many experts recommend setting aside anywhere from six months to a year\u2019s worth of money to cover unexpected financial loss.<\/span><\/p>\n

[\/et_pb_text][et_pb_image admin_label=”Image_384px” src=”https:\/\/www.trc-gorod.ru\/wp-content\/uploads\/2016\/12\/shutterstock_535571644.jpg” alt=”emergency money” show_in_lightbox=”off” url_new_window=”off” use_overlay=”off” sticky=”off” align=”left” force_fullwidth=”off” always_center_on_mobile=”on” use_border_color=”off” border_color=”#ffffff” border_width=”1px” border_style=”solid” custom_css_main_element=”max-width: 384px;” disabled=”off” animation_style=”slide” animation_duration=”500ms” animation_intensity_slide=”10%” animation_direction=”left” show_bottom_space=”on” \/][et_pb_text admin_label=”Text_H3: ” background_layout=”light” text_orientation=”left” header_font=”Open Sans||||” use_border_color=”off” border_style=”solid” disabled=”off” saved_tabs=”all” background_position=”top_left” background_repeat=”repeat” background_size=”initial”]<\/p>\n

4.<\/span> Know your capacity for risk?<\/span><\/h3>\n

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What is your capacity for risk?<\/span><\/p>\n

What makes you most fearful about investing in houses?<\/span><\/p>\n

Is it the buying or maintenance costs? Dealing with tenant issues or losing money on your investment?<\/span><\/p>\n

Work out what risks let you sleep at night and you\u2019ll have a good barometer of your individual emotional and psychological ability to take on risk.<\/span><\/p>\n

Then, sit down and work out your investing strategy using your own personal boundaries as a guideline. <\/span><\/p>\n

[\/et_pb_text][et_pb_text admin_label=”Text_H3: ” background_layout=”light” text_orientation=”left” header_font=”Open Sans||||” use_border_color=”off” border_style=”solid” disabled=”off” saved_tabs=”all” background_position=”top_left” background_repeat=”repeat” background_size=”initial”]<\/p>\n

5.<\/span> Know your borrowing capacity?<\/span><\/h3>\n

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A very important number to know, your borrowing capacity is simply how much you can afford to borrow.<\/span><\/p>\n

Factors a lender will look at include.:<\/span><\/p>\n