I have quite a bit of money with which to invest, and I am thinking of buying a condo or small home to rent out. What's the best way to select a property? Also, any tips are welcome!
2006-12-27 12:26:47 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
The best way is to find a professional in your area and get that person to mentor you. Other than that, you can look to these boards for advice, but you don't know who is giving it to you. So why not go to the bookstore and start reading up on it? If you notice that the real estate section is huge, well, there is a reason for that. Everyone is into real estate these days. There is a lot of great info out there, but oh so much more bad advice. Best of luck.
2006-12-27 12:35:35 · answer #1 · answered by David 3 · 0⤊ 0⤋
It relies upon on what do you think approximately secure? in my opinion, i think of in case you could make 7% a year. certain, i could take that. i think of that genuine property appreciates around 5% a year over the long haul. that doesn't count extensive form the fact that its no longer a certain investment, calls for upkeep and could fee you cash even as you very own it. So theoretically, i could bypass with the 7% "secure investment". human beings get excited approximately genuine property while they see it double in a pair years. they do no longer think approximately that it develop into flat for 10-twenty years devoid of doing something in any respect. some aspects even longer than that. genuine property isn't a definite element yet once you have the time to commit to it, it does have a raffle of coming up greater money yet i could seem for developments in genuine property in the previous figuring out to purchase. that is purely no longer as secure as another investments and that is definately no longer as liquid.
2016-12-18 20:13:34 · answer #2 · answered by ? 3 · 0⤊ 0⤋
If you have a decent amount of monet I would purchase a multi-family property. I would look at places in which the rental markets are good and the location has good potential in the future. My biggest piece of advice is make sure the numbers make sense and that you don't overpay for the property.
2006-12-27 17:32:36 · answer #3 · answered by tianaramal 4 · 0⤊ 0⤋
buy good property in good area and take a new one so that no expenses on home im provement....and u can get fast returns once the market of real estate get high.....another thing in a consideration should if u can';t sell it for some reason u should be able to use for yourself...ie it should be at place...from where u can commute to your work place etc...
2006-12-27 13:05:26 · answer #4 · answered by peace 1 · 0⤊ 0⤋
If you don't have experience, find a real estate professional who has a good reputation in the area your looking, and advise him/her, what you are trying to acheive. Make sure whatever you choose have plenty of equity and doesn't require major repair. Good Luck!!!
2006-12-27 13:26:16 · answer #5 · answered by Chris P 3 · 0⤊ 0⤋
Buy near a college, or in a growing town/city.
2006-12-27 12:35:39 · answer #6 · answered by artemis prime 1 · 0⤊ 0⤋
Try to find a rent to own situation...much more stable, pride of ownership, much fewer hassels...
2006-12-27 14:20:35 · answer #7 · answered by Patrick C 2 · 0⤊ 0⤋