You can build passive income from rental properties! Making money from real estate is a skill. Like any other skill it can be learned. Open the full mini-guide…
FREE Real Estate Investor Strategy Mini-Guide
The strategies and options available to an investor will range depending on your individual situation and current market conditions.
Think in terms of things you control and things you don’t
The things you control are the goals you set, your ability to get financing, the actual funds you have to invest, the time you have to research and execute your strategy, and your appetite for risk. Your own knowledge and skills will be a driver too, so get educated and keep learning.
The things that you can’t control like the availability of inventory at reasonable prices, low-cost financing and interest rates, rent prices, vacancy rates and other economic factors. What you are looking for are properties undervalued where you can buy and flip, or where the ratio of purchase price relative to rent is favorable in decent neighborhoods to buy and hold. Below is a depiction of some of these influencing factors.
FREE Mini-Guide to Buying Out-of-State Properties
There will always be situations where an investor has the motivation to invest in real estate but for any variety of reasons the local market just doesn’t provide that many opportunities. Perhaps the town has a relatively small population or maybe the investor thinks the market is overheated and wants to sit the local “boom” out. Or maybe the local real estate market is too rich for the novice investor and coming up with a 20 percent down payment on a home is unworkable. So what does the investor do? The investor can look beyond local borders for opportunities.
Investors learn how important knowing the area is, the economy, trends and demographics. Many investors like to invest in a particular area and regularly visit the neighborhood to drive by the properties they own. But what if you live in California and see an opportunity in say, Ohio? The numbers look good and you’re able to pay cash or finance an acquisition, but how can that work? What are the benefits? What is there to look out for? Open full mini-guide…