“Risk comes from not knowing what you’re doing.”

- Warren Buffet


Welcome to the Managing Risks stage in the co-buying process.

Description

Managing risks starts at the beginning of the co-buying process and continues over the entire co-ownership journey. To maximize our return on investment—of money, time, energy, and social capital (relationships)—we must proactively minimize our risk exposure.

Why It’s Important

We all look for some return on our investment from co-buying, whether that means financial reward, social fulfillment, housing stability, or feeling good about our situation at home.

In co-buying and co-ownership, our actions and decisions all affect risk. Every move we make either adds risk, is risk-neutral, or decreases risk. Most co-buyers don’t think this way. They don’t know, don’t care, or are caught up in the present.

To get the desired results and avoid problems, you must adopt a risk-management mindset.

How can we manage risks?

1. Recognize
2. Avoid
3. Protect

‍We manage risks to safeguard our home, relationship(s), and investment.

What You’ll Learn

This section focuses on risks during co-buying.

You’ll learn which actions—and failures to act—add risk at each stage in the co-buying process, and how to get ahead of these.

You will see how seemingly disparate aspects of co-buying are intertwined. A misstep or an oversight in one part of the process can cause problems elsewhere.

Outcomes

You’ve built a formidable knowledge base over the past sections of this course.

By the end of this section, you’ll have a solid basis for seeing and managing major risk factors. You will:

✅ Save time / close on a home faster

✅ Save money / limit unnecessary spending and secure the best purchase terms possible

✅ Reduce stress / remove friction by targeting it at the source

Let's dive in!