When investing in real estate, the goal is to put your money to work today so you have more money in the future.
As a real estate investor myself, I’ve experienced all that it takes to make an investment property work for me. I welcome any opportunity to share what I’ve learned and what I know about making great choices. If you’ve thought about investing but still haven’t taken the plunge, let’s talk!
Below are some helpful tips to consider when investing…
Make RATIONAL Decisions, NOT Emotional Decisions
Don’t let your emotions affect your decision when buying investment properties. You might find great houses at bad prices, or great prices with bad houses. While the deal MUST make sense to be a good investment, there are two considerations I want to point out:
- A good part of your Return On Investment (ROI) is based on the purchase price itself. Even if you love a property, the price needs to make sense. I will always negotiate to get the best possible price for you.
- Be reasonable in your expectations or you may never make a move. While we want a GREAT price, it is often best to have a good price that still does the trick! Get your money & assets working for you as soon as you can – time is of the essence. Getting started will help you most in the long run versus waiting too long for a perfect deal.
Appealing & Affordable Upgrades
One of the best ways to make money out of a property is to add value to it. Renovating bathrooms and kitchens, for instance, will ensure you get a better return when renting the property out and make you more money when you’re ready to sell. Just be sure you don’t overdo it, or underdo it. Find the balance between your numbers and the rental market in your area.
Designing with a harmony of modern and classic elements has attracted renters nicely for me. Be smart in your design choices.