It Is A Great Time To Buy Investment Properties!

Have you given any thought to investing in Real Estate as a business? 

If So It Is A Great Time To Buy Investment Properties! 

Being a landlord is not for everyone just like the stock market is not for everyone, but for those who understand the risk and the benefits it can be lucrative.  The main focus for you as the consumer is to decide if you are ready to be a landlord.  Once you have resolved to yourself that you are willing and capable of being a landlord then and only then begin the process of doing additional research.

This is the time to get in touch with a full-time professional REALTOR.

Your REALTOR will be able to help you find the right property to fit your budget and other search criteria.  They will help you determine if the home is in a good location with the potential for a steady stream of qualified renters. Some important items to consider are:

Location - are you going to be close to the location so you can handle any problems that may arise or will you employ a management company. If you are considering a management company be sure to factor in that cost into your monthly expenses.
Expenses - will the monthly rental amount cover your expenses.  Be sure to consider your mortgage, taxes, insurance, any home owner association dues. Another consideration is what your goal is for the investment - will you be holding the property as a pure investment or will you be looking for a positive cash flow.  Your bottom line should increase over time as rental amounts tend to increase with time if you control the other expenses and maintain the home.
Insurance - talk with your insurance provider prior to making an offer and prior to actually obligating yourself to purchase.  The cost of landlord (non-owner occupied properties) will be higher than your typical homeowners insurance.
Call a REALTOR - use the services of a full-time professional REALTOR that is familiar with investment properties.  They will understand that buying a home as an investment is very different than purchasing a primary residence or a vacation home. The REALTOR will do research on the neighborhood, provide past information for the home itself and can usually provide you with a good idea of cost for needed repairs. 
Repairs - if you don't have the time or if you are not a good painter, carpenter, plumber etc. do you have contractors or professionals that you can rely on?  If not this is another item where your REALTOR can assist you. Be sure to factor in these cost and the amount of time to complete them when do your analysis of cost.

As I mentioned before, being a landlord is not for everyone and certainly there are pros and cons. However, if you have what it takes and you have the financial resources it is an excellent way to accumulate wealth.

For more details concerning real estate investments please give me a call, it would be a pleasure to hear from you.

Pamela Efferson
713-822-8555