Are you a novice planning to make real estate investment? If the answer resounds yes, then you should consider significant areas before locking on a particular property. Although the real estate market has plenty of opportunities for making big gains but it is a bit more complicated than investing in stocks and bonds. One wrong move and you end up losing your hard earned money.
Let us have a detailed look at some of the beginners’ basics which you should know from the get-go of your investment careers.
Location
Location of the property is a chief parameter. It determines the rental amount you shall receive from your tenants. Look at the proximity to transportation, universities and colleges, major business centers and local restaurants. Remember, the more central the location, the greater is the demand.
Property taxes
These costs tend to increase your budget. Make a proper assessment of the taxes and the market value to determine if they are high and find out the reasons thereon.
Know the market trend
If you want to evaluate any property, you need to be well versed with the current economic trends to estimate future income. You need to know how other properties in the similar area are performing.
Make use of the “1% rule”
When you plan to buy a property that you wish to rent out to one or more tenants make use of the “1% rule”. It will produce 1% of the price that you pay for it every month.
Look for wholesale properties
Real estate wholesaling is a lucrative option for first time investors. If you want to make quick profits in real estate investing, then opting for wholesale properties is perfect for you.
Seek professional advice
Seeking advice from a professional realtor will help you sail through the investment hassles quite easily. Also real estate investment involves large amount of funds, so consulting an expert should be the top priority.
Looking for a reliable real estate company to seek investment advice? Get in touch with us at Southern Utah Realty. We are a team of real estate experts who will assist you to crack lucrative investment deals. We will provide you all the requisite information and leave no stone unturned in fetching you profitable avenues. To know more, give us a call at 435-229-8297. You can even email us your queries at info@southernutahrealty.com. We are always there to help you.
Let us have a detailed look at some of the beginners’ basics which you should know from the get-go of your investment careers.
Location
Location of the property is a chief parameter. It determines the rental amount you shall receive from your tenants. Look at the proximity to transportation, universities and colleges, major business centers and local restaurants. Remember, the more central the location, the greater is the demand.
Property taxes
These costs tend to increase your budget. Make a proper assessment of the taxes and the market value to determine if they are high and find out the reasons thereon.
Know the market trend
If you want to evaluate any property, you need to be well versed with the current economic trends to estimate future income. You need to know how other properties in the similar area are performing.
Make use of the “1% rule”
When you plan to buy a property that you wish to rent out to one or more tenants make use of the “1% rule”. It will produce 1% of the price that you pay for it every month.
Look for wholesale properties
Real estate wholesaling is a lucrative option for first time investors. If you want to make quick profits in real estate investing, then opting for wholesale properties is perfect for you.
Seek professional advice
Seeking advice from a professional realtor will help you sail through the investment hassles quite easily. Also real estate investment involves large amount of funds, so consulting an expert should be the top priority.
Looking for a reliable real estate company to seek investment advice? Get in touch with us at Southern Utah Realty. We are a team of real estate experts who will assist you to crack lucrative investment deals. We will provide you all the requisite information and leave no stone unturned in fetching you profitable avenues. To know more, give us a call at 435-229-8297. You can even email us your queries at info@southernutahrealty.com. We are always there to help you.
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