We've all heard the real estate axiom: location, location, location. In the real estate investing biz it's really situation, situation, situation. Situation is the combination of:the right timing the right location the right capabilities There's an example in every town: a decent commercial building on a busy street corner with easy access and good parking. It's a decent building but it's usually vacant. If a new business moves in, it's gone within a year. Down the street from my last house was a property that held several businesses, including a specialty bakery. The bakery didn't last because it wasn't an upscale location. Next, a neighborhood diner moved in. It's doing great business because the owner had the resources to rehab the building and run a restaurant - and he chose an appropriate location. That's the right situation. In multifamily investing, situation is the combination of: the right location: Are you investing in the path of progress or declining neighborhoods?

the right timing: Are you investing in markets in: recovery & expansion or contr

the right capabilities: Do you have: strong skills & knowledge; a professional team; financial reserves or insufficient skills & experience; a go-it-alone plan; no financial reserves