Once you buy a property, there are a few things you won’t be able to change (or change easily). You can’t change the location of the property, or improve the school district, or reduce the crime rates. But there are many updates you can make to the property—sometimes exceedingly simple ones—that will attract more tenants and keep them happier over the next several months and years…. [Read More]
It’s doubtful that anyone becomes a real estate investor or rental property manager just for fun. You don’t take on considerable financial risk and spend a lot of time and effort to secure real estate, draw up contracts, and prepare a house to rent just because you don’t have something better to do…. [Read More]
You’re probably well aware that the compounding nature of traditional retirement accounts, such as 401(k)s and IRAs, can make anyone wealthy over time. Even maxing out a Roth IRA each year (and nothing more), can make you pretty comfortable in retirement…. [Read More]
You’re probably already familiar with the classic “snowball” effect. A snowball, rolling downhill, will accumulate snow around its exterior, and grow larger. The effect continues, but the larger total area of the snowball means even more snow is accumulated. The snowball rolls faster and faster, picking up snow at a faster rate, until it reaches massive proportions.
There’s a strategy you can apply to real estate investing that gives you access to the same kind of exponential return; once you build momentum, and choose your direction, you should be able to accumulate more and more revenue, eventually establishing you with independent wealth and a wide portfolio of different properties in your possession…. [Read More]
You’ve likely heard that investing in real estate is one of the most profitable financial endeavors you can undertake; real estate is responsible for many self-made millionaires, and is often found as a component of diversified investment portfolios.
The problem is, “real estate investing” can refer to one or more of several strategies, each of which have advantages and disadvantages, and a different potential level of profitability. So if you’re interested in making the biggest profit, which one should you choose?… [Read More]
If you’re considering investing in rental property, you’ve probably thought about the prospect of managing a multifamily home. In case you aren’t familiar, multifamily homes are exactly what they sound like; houses that are designed or structured to accommodate multiple families in different units within the home. They come in many forms, including duplexes and triplexes, and apartment buildings are considered multifamily properties as well…. [Read More]
If you’re thinking of purchasing a rental property, it’s a good move to weigh all your options. A friend or expert might suggest going one route, but that’s not necessarily going to be the best choice for your situation.
If you have the ability to pay cash for a rental property, you should definitely consider that option. But in order to ascertain whether paying in cash or taking on a mortgage would make more sense, you’ll have to do some analysis…. [Read More]
The most successful investors like to extol the virtues of investing in real estate. This market is usually more stable and easier to predict than other popular options, and it’s easy to get started. Real estate is not exactly a get-rich-quick scheme, but you can generate a satisfying nest egg if you learn the tricks and stick with it…. [Read More]
If you’re thinking about getting your feet wet in property investing, but don’t know where to begin, or if you want to split the responsibilities with someone else, you might consider the options of co-owning (and by extension, co-managing) a property. While there are some advantages to this arrangement, you’ll need to think carefully about the dynamics of the partnership and the potential consequences of going this route…. [Read More]