<b>What type of property should I invest in! </b>
Determine your investing strategy!
There are different types of real estate, and different ways to invest in them. Which way is best is for you to decide, according to your particular needs. Here are a few avenues to consider when starting your business.
<b>Rental houses</b>
One of the easiest ways to get started and good long term return on investment. At times, being a landlord can mean more hard work but if you are up for the challenge then go for it!
<b>Rent-to-own houses</b>
When you buy, then sell on a rent-to-own arrangement, you get higher rent, and the buyer is usually responsible for maintenance. The bookkeeping cab be tricky, and most tenants don’t complete the purchase (this can be an advantage too, but it does mean more work for you).
<b>Fixer-uppers </b>
Are a quick return on your investment, and it can be more creative work. Keep in mind that fixer uppers can be high risk (many unpredictables) and you can get taxed heavily on the gain.
<b>Buy for cash, sell for terms </b>
You get a high rate of return by paying cash to get a good price, and selling on easy terms to get a high price AND high interest.
<b>Buy land, split it and sell it</b>
It is simpler than most real estate investments, with the possibility of great profits. The down side to this is that it can take a long time, and you have expenses, but no cash flow while you wait.
<b>Boarding houses</b>
You can get a lot more cash flow renting a house by the room, especially in a college town. The downside is that you can get a lot more headaches renting a house by the room, especially in a college town.
<b>Commercial real estate</b>
Long term triple-net leases mean little management and high returns. Commercial Real Estate can be a tough market to break into, and you can lose income on vacant storefronts for a year at a time.
Looking through this list of options should help you decide what avenue of Real Estate you’d like to pursue. Always do your homework! Take your time and figure out what’s best for you. Also, talk to an experienced Real Estate professional to sort out your options. When starting out in Real Estate, making huge decisions will require the help of someone who knows about the business.
Once you own your first property, you will want to add more advisors to your team including: attorney, accountant, and various contractors. Most of them should own investment property or at least have investment property clients. Sometimes the biggest obstacle to becoming a Real Estate Investor is simply taking that first step. If you have found the right advisors, that step can be much easier and less stressful. Now go get started!
To get professional advice and more information call Vision Investment Corporation at 877-799-0820! Feel Free to visit the website at <a href="http://www.visioninvestmentcorp.com" target="_blank">www.visioninvestmentcorp.com</a>.
<i>Annetta Powell</i>
<b>Queen of Real Estate</b>
