Don’t hesitate to do your own research. Rather than read about what is happening in the marketplace, pound the pavement for the information. A firsthand look can be a real eye-opener. Suppose that you’re planning to purchase an apartment building. You may want to play the role of a prospective renter before ever offering to become an owner of the entire building. Walk through the neighborhood, visiting other apartment buildings. In an hour, you can become the world’s leading expert on the price and availability of apartments in that block or two. Talk with tenants in the building you’re planning to buy. That approach always produces more reliable information than talking with the owner or the owner’s representative.
Whether you are buying or selling, a shopping trip is one of the best ways to educate yourself about price, availability, and quality considerations. I’m not talking about buying — just shopping. Frankly, this is the only kind of shopping I really enjoy. The more we know, the better we feel. Don’t forget to make notes during your shopping expedition. You’ll be gathering a great deal of new information. You may remember most of it; but without good notes, you won’t remember where you got the different pieces of information.
Whether you are buying or selling, a shopping trip is one of the best ways to educate yourself about price, availability, and quality considerations. I’m not talking about buying — just shopping. Frankly, this is the only kind of shopping I really enjoy. The more we know, the better we feel. Don’t forget to make notes during your shopping expedition. You’ll be gathering a great deal of new information. You may remember most of it; but without good notes, you won’t remember where you got the different pieces of information.