The Basics of Real Estate Investing
Now that you have an idea of some of the ways to invest in real estate. Let’s look at the fundamental aspects that revolve around your investment decisions:
What exactly are your investment goals? What are you looking to accomplish? Looking for that home run flip that will help you retire early? Building a rental portfolio that will bring you consistent passive income straight to your mailbox? Whatever your plan is, have a clear vision and set your actions on those sights.
This is probably the biggest limiting belief when choosing to invest in real estate. “Where do I get the money from?” I’ll admit, getting a mortgage for the secondary property is a bit tougher than your experience when you purchased your primary residence. 20% down as required by many loans can require a lot of upfront cash. The good thing is, you don’t always have to use your money to invest in great real estate deals. I’ll show you how to do that later!
Just as important as money and financing, timing will be crucial to your success in your real estate investment decisions. Buying when market prices are sky high my cause you to have a tough time reselling if prices drop. Are you flipping? Timing is especially critical here, especially when it comes to the rehab schedule. Delayed contractors can put a serious dent in your profit potential and could even be the reason why your flip turns into a nightmare.
How Austin can help you invest in Real Estate
Whether a seasoned investor or a newbie, there’s a lot of things to consider before investing in NJ. If you would like to learn more about investing in real estate or if you would like to partner with an Investor-Agent specialist, text, call, or send me an email!