Investment Properties

Are you wanting to invest in Real Estate? Investment properties can provide you with great real estate success if done right. There are several different types of investment properties. From commercial co-working places to small duplex homes there’s a variety to choose from that have their own unique advantages and disadvantages. It’s important to find the one that is best suited to your needs and wants both financially and personally.

Start Investing

What to Expect

What to Expect

  • Property Taxes
  • Paperwork, Contracts, etc.
  • Repairs
  • Unexpected Expenses
  • Property Management
  • Initial Defecit
  • Tenants

Keep in Mind

  • Hiring a Property Manager
  • Establishing Rules
  • Type of Loan
  • Establishing an LLC
  • Renovations
  • Pet Fees
  • Amenities

Diving in to investment properties without preparing yourself for what’s to come can lead to unwanted results and financial hardships. Here are some things to expect and consider during the process of buying and owning an investment property.

Steps to Take

  1. Research – Do research into what type of investment property you’re looking for and what it will take to obtain one. Establish what you are trying to get out of the property and where you would ideally like it to be located. Map out your budget and what you’re willing and able to spend. This will allow you to narrow down your search and begin really looking for your investment property.
  2. Begin Looking – Now that you know your budget, what type of investment property, and what you’re looking to get out of it you can begin looking. Be sure to look at multiple properties so you can weigh your options. This will ensure that you’re making the decision that is best for you.
  3. Select Your Loan/Buy Your Property – Now that you have your property picked out get your loan for the mortgage. It’s important that you get an investment property loan and not a second home loan as a second home loan doesn’t allow you to rent out and make money from the property. After getting approved for your loan, buy your property.
  4. Renovate/Repair – If you’re lucky the property will already be ready to rent. However, most of the time that’s not the case. This is where renovations and repairs come in to play. Fix anything that needs to be fixed (leaky faucets, creaking doors, etc.) and make improvements that will add value and generate more rent.
  5. Find Tenants/Hire a Property Manager – Your property is now ready for rent and to be filled with tenants. Develop a way to list your property or get the word out that has rooms available. Establish any ground rules and expectations of the tenants and the property. You can also hire a property manager. This will allow you to be a little more hands off and stress free. However, you should still be involved and check in on a regular basis.