By Roger W. Bowlin, Founder & Owner of Real Estate Transition Solutions
With the new year comes both new challenges and new opportunities for your investment properties. The one thing we know for sure is that nothing ever stays the same. While we never know what the new year will bring, we do know it will be different from the last. Over the past few years, the changes felt by investment property owners in Western Washington have been significant – from a rapidly appreciating market, unprecedented levels of new development and relentless regulatory pressure, just to name a few. Meanwhile, owners’ objectives also change as they progress through life’s chapters. Focus often shifts toward preservation of capital (i.e. not weathering another major market correction), freeing up more time and enhancing current income. Whatever chapter you find yourself in, we encourage you to use the start of 2019 to consider what your real estate investment objectives are going forward.
Determining objectives is a process we walk through with our clients regularly. It requires taking a “big picture” approach and considering not only your specific properties, but larger considerations such as estate planning, financial planning, and risk tolerance. Once objectives are determined, strategies can be proposed to best position investment property owners to accomplish their goals and realize their objectives.
If you find there is a gap between the current properties you own and your objectives, bridging the gap becomes key. This is where Real Estate Transition Solutions can help - we develop Transition Plans designed to align owner’s properties with their objectives. These plans can either take a holistic approach or a property specific approach and serve as a roadmap to navigating the years ahead as it relates to your real estate assets. We invite you to schedule a complimentary consultation to discuss your specific situation and objectives.
Here’s to a prosperous, strategic, and successful 2019!