Tuesday, February 12, 2019 / by Michelle Genardini
Hi everyone! Today I’ve got some smart tips to consider when investing in Real Estate. Whether you are a seasoned investor or a newbie, I trust these tips with bring some value to you in some way!
1. Define your goals as a Real Estate Investor
Have in mind what kind of investor you would like to be going in. What type of investments are you looking for? Fix and flips, rental properties, multi=family, commercial? All of these factors are going to affect what plan you put in place to begin a successful real estate portfolio.
While you don’t need to know every laws & not all laws will apply to you, it is important to research and know how investing will affect you and your goals. Meeting with a CPA will be an important step prior to investing.
Hiring a professional and certified home inspector before finalizing the sale is integral to avoiding big mishaps & unexpected surprises. You don’t what to solely rely on the seller’s disclosure for information pertaining to the property. Research, verify, and re-verify! Rely on your REALTOR for recommendations and resources to assist you with this process.
The safety, reliability and high profitability of “getting your money back” are paramount to this process. Do the numbers make sense? Is the margin large enough? Depending on what you are looking to accomplish, an experienced REALTOR will be able to help you decipher if this is going to make sense.
Whether you are buying a single family home or multi-family buildings, having good property management can make all the difference in the success and protection of your investment.
There are many benefits hidden in these two line items. Those benefits can potentially add to an investor’s bottom line in many ways. Always consult with your CPA to find out what your benefits are.
Good tenants can mean you won’t end up with a damaged asset, minimize potential for lawsuits, and you won’t have to wrestle with the headaches that come from poor tenants.
Location: It’s the factor that makes any type of real estate a good investment! You may want to take into account the trajectory of the neighborhood such as development and future projects. Just because an area may be less than ideal now doesn’t mean you should rule it out.
For more information on building wealth through real estate, contact Michelle at 520-477-9530 or firstname.lastname@example.org