Investing in Real Estate
Real estate has long been considered a conservative, long-term strategy to growing wealth. While some seasoned real estate investors make it look easy, to be successful, you must follow some basic principles.
Learn all you can. Before committing your cash, you should have a fundamental understanding of real estate. For example be aware that, in general, investment properties are not liquid investments. Real estate does not sell at a moment's notice. Market's can turn and also be very different from one town to the next.
Consider cash flow. You'll need to have enough capital on hand to cover losses due to vacancy. You will also have repairs that will need to happen from time to time.
Start small. Consider purchasing a single-family home or duplex, before jumping into a 20-unit apartment complex. Inquire at the Chamber of Commerce about companies relocating into or out of the area. This is often a good indicator of the demand for commercial space. Investing in real estate can be very rewarding, especially if you stay within your budget. For more information on available investments, please give me a call today.
Develop a strategy. Like all investments, you need to have a plan, and an entrance and exit strategy. Those that just "wing it", usually find themselves upside down in an investment.
If you are looking for some great resources https://www.biggerpockets.com has a lot of tools, articles, podcasts, and best forums for real estate investing.