Maybe you’ve thought about them for the past few weeks or maybe you’re doing like many and waiting until today, New Year’s Eve, to write out your resolutions for the coming year. For real estate investors looking forward to 2016, here are a few suggestions for real estate resolutions.

 Strengthen and Broaden Current Relationships  It’s time to reflect and to look forward and that means it’s time to look at your current team. Are there any weak spots that need to be improved upon? Are some team members needing a little boost? Maybe add or replace existing ones? Take a hard look at your supporting cast and resolve to improve your current team and add more experienced players that can help you succeed in 2016.

Find Private Funding  If you don’t have a reliable private lender, resolve to find one early in 2016. Even if you have the best of relationships with your local bank, you’ve obviously ran into some situations where your bank declines to help due to the condition of the property. Private lenders in this circumstance are a godsend and open up more opportunities than you would have just relying on your bank.

Explore Additional Property Types  Experienced real estate investors get better and better with each closed transaction. It’s common for an investor to begin to shift toward a specific property type, becoming an expert. A real estate investor may find success buying apartment buildings near a college campus for example. Take a look at your existing portfolio and see if you’re too heavily weighted in one particular sector and seek out opportunities in different property types that might compliment what you currently own.

Pay Down Debt  There’s nothing better than increasing monthly cash flow and paying off an existing mortgage is the best way to do so. Yes, leveraging is king but carrying excess debt is not. Consider pulling equity out of other properties to pay off existing, higher interest rate loans. Take a look at an accelerated payment method to pay off loans sooner rather than later.