Think long term strategy. Many people want to invest, but in reality only want to look at investment properties. They have no real clue as to what they should do. In fact they have no plan. Like any business you need a plan.
Think long term strategy. Many people want to invest, but in reality only want to look at investment properties. They have no real clue as to what they should do. In fact they have no plan. Like any business you need a plan.
Holding rental homes over the long term is a proven investment strategy that works. While you provide proper housing at fair rates the renters themselves are paying off your mortgage. You can avoid the hassle of day to day duties by using a property management company.
Long term rental properties are a good way to provide a stream of income in later years. A professional agent can be a power boost to your investment career. Their knowledge of subdivisions, homes and values can help you buy great homes that will appreciate as your renters pay off your mortgage. Owning several of these free and clear when you retire is a no brainer in my book.
Re-habbing properties is another great property investment approach. I didn't learn this until I was older after I had become a real estate agent. We bought run down properties and repaired them ourselves. Once we got them into great shape we sold them off again, using the profits to fund another deal.
There are many ways to sell properties. Today they call it flipping. Like in flip that house. This is one way to get investment capital without taking money away from your household income. Plus you could turn it into a rental if the NOI (net operating income) works for you.
When you don't have money up front you can use this third investing approach. You buy from a motivated seller and wholesale the property to another investor or retail buyer. When they close you pull out you fee for the deal. This gives you some cash to do another deal without pulling from your family funds.
With this approach your not really in the deal and have no risk, other than losing your fee, if the deal falls through. It is a great technique to build up your investing capital so you can use one of the other techniques. There are many investors who simply do wholesale.
While some people will tell you to stay laser focused on one technique. I say stay laser focused on real estate investing but use at least three techniques to fund your investments and increase your long term wealth. Remember it is not a race and what others do is important. Its what you do on a steady week to week basis that will make the difference.
Think long term strategy. Many people want to invest, but in reality only want to look at investment properties. They have no real clue as to what they should do. In fact they have no plan. Like any business you need a plan.
Holding rental homes over the long term is a proven investment strategy that works. While you provide proper housing at fair rates the renters themselves are paying off your mortgage. You can avoid the hassle of day to day duties by using a property management company.
Long term rental properties are a good way to provide a stream of income in later years. A professional agent can be a power boost to your investment career. Their knowledge of subdivisions, homes and values can help you buy great homes that will appreciate as your renters pay off your mortgage. Owning several of these free and clear when you retire is a no brainer in my book.
Re-habbing properties is another great property investment approach. I didn't learn this until I was older after I had become a real estate agent. We bought run down properties and repaired them ourselves. Once we got them into great shape we sold them off again, using the profits to fund another deal.
There are many ways to sell properties. Today they call it flipping. Like in flip that house. This is one way to get investment capital without taking money away from your household income. Plus you could turn it into a rental if the NOI (net operating income) works for you.
When you don't have money up front you can use this third investing approach. You buy from a motivated seller and wholesale the property to another investor or retail buyer. When they close you pull out you fee for the deal. This gives you some cash to do another deal without pulling from your family funds.
With this approach your not really in the deal and have no risk, other than losing your fee, if the deal falls through. It is a great technique to build up your investing capital so you can use one of the other techniques. There are many investors who simply do wholesale.
While some people will tell you to stay laser focused on one technique. I say stay laser focused on real estate investing but use at least three techniques to fund your investments and increase your long term wealth. Remember it is not a race and what others do is important. Its what you do on a steady week to week basis that will make the difference.
About the Author:
Thinking about property investing, then definately read Tommy's interesting no cost report 7 steps to property investing,and buying a home
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