Home sellers have lots of options when is time to sell their properties, however there is no magic formula that will guarantee in achieving the best and highest price possible for their homes. This is why I like to partner with my clients to guide them through the complexities of selling their homes. I assembled a team of true professionals with experience, dedication and strong communication skills to help ensure a successful and profitable sale of your home.
Today, we'll talk about “7 Things to Look for In An Investment Property For the First Time”
The best time to start investing in real estate is when you are young.
The second the best time is now!
Investing in real estate is an option that should be considered at all stages of your life. You do not need to wait until you are in a certain financial position before you start investing.
On this post, I want to encourage you to study the world of investing in real estate. Specifically, investing money to buy properties for cash flow. Meaning that you could purchase a property, rent it to someone, have enough money to pay the mortgage, taxes and insurance with the rent…PLUS have some monthly cash flow as additional income, coming to you month after month!
Why Rental Properties?
Rental homes have many advantages to help you grow financially
The benefits come from the potential for higher returns and appreciation growth.
Searching for cash flow properties means that it will make the investment more profitable and attractive.
The most common purchase for someone staring out with their first property, is to look for potential properties in the surrounding areas where you live.
“7 Things to Look for In An Investment Property For the First Time”
1. An Enticing Location that is easy to access from where you live.
2. Analyzing the property with a real estate agent who understand the numbers that will make sense if a property is the right purchase for you or not.
3. Low Maintenance is a must. You do not want a fixer upper for a first property. The time that it takes to complete these types of projects will be detrimental to your investment strategy as a first-time investor
4. The potential of appreciation should always be considered into your analysis whether a property if a good investment or not?
5. Vacancy rates is another area where your real estate agent should be able to help you. You want to know if your property has a high demand in the local area.
6. Who will handle basic repairs? Another question to ask and prepare for.
7. Should you seek finance or invest your own money? There is a saying in the real estate world. “The best way to buy real estate is with OPM” (Other People’s Money)
Many people have a vague idea about stocks, bonds, mutual funds and other investments and risk their money anyway. They go ahead and pour their 401k’s into investments that have no tangible assets.
Real estate is a completely different approach. You invest and have and have possession of a physical asset that you can see, touch and in some cases live in it!
If you are interested in investing in rental properties, you can get help from your real estate professional. That should be a first step.
The real estate market has changed in the last few years. Many people have opinions based on history and experiences.…is it time to start looking at investing in real estate from a fresh perspective?
Having an active and profitable investment portfolio starts with this first step
I’m looking forward to talking to you and looking at the present opportunities that exist in our local area.
Give me a call, there is no obligation from your part
I love to help!
Always consult with your real estate agent about your home inspection results and the options you have inside the sales contract that you've signed.
To purchase your dream home or a great foreclosure property, is about being educated, thorough and patient with the process. The most important aspect of finding the perfect home is working with a real estate agent who is highly skilled in negotiation and understanding of your expectations!
For more information or assistance to help you find a home in the Las Vegas and Henderson area please call us at 702–845–8540