If you are an investor who fixes up properties to sell them, should you hire an inspector before you list a home for sale? This guide explains. Should You Hire an Inspector if You’re Selling a Fixed-Up Property? As an investor, you know how important it is to ensure that a property meets your needs before you purchase. It's the same with standard real estate buyers; they need to make sure there's nothing majorly wrong with a home before they pull the trigger on a purchase. Related: 3 huge mistakes many new REIs make Usually, buyers will send a home
If you're like many investors, you're wondering whether investing in a multifamily property is worth it. This guide gives you some pros and cons so you can make the right decision. Should You Invest in a Multifamily Property? For many investors, multifamily properties are where it's at. However, these types of properties aren't right for everyone. If you're considering investing in a multifamily property, there are a couple of approaches you can take to this situation. You may choose to fix and flip the property to another investor, or you may choose to rent out one or more units in
If you are a new real estate investor, these are the three huge mistakes you need to avoid to keep your business profitable. 3 Big Mistakes New Real Estate Investors Make (and How to Avoid Them) Check out the three biggest mistakes new investors make: Paying too much Failing to have a great team in place Buying in the wrong location Here’s a closer look at each. New REI Mistake #1: Paying Too Much Overpaying for an investment property is the single biggest mistake you can make because it cuts into your profits. When you purchase an investment property, you
As a real estate investor, it's in your best interest to keep your eyes open for distressed properties. Here are three ways to spot one. 3 Surefire Ways to Spot a Distressed Property If you are like most investors, you're always on the lookout for a great opportunity. Check out these three surefire ways to spot a distressed property: Check property tax records Network with probate lawyers Cruise around town Here's a closer look at each. Tip #1 for Spotting Distressed Properties: Check Property Tax Records Property tax records are generally public information, and you can usually find them on
If you're a real estate investor who's having a tough time filling a property, should you look at the short term rental market? here's what you need to know. Are Short-Term Rentals Profitable? Short term rentals can be profitable, but they're not a permanent solution for many investors. However, in some areas, it does make sense to use a property for short term rentals only. For example, if the property is in an exciting vacation destination, a metropolitan area, or near a big attraction, it may make sense to rent it out one week (or one weekend) at a time.
If you're getting into real estate investing, you know that you need a dream team. But who should be on it? This guide explains. Who Do You Need on Your Investment Dream Team? As a new real estate investor, you'll probably read multiple sources that say you need a “dream team.” these are the members you need to get a good start: Lender Real estate agent Property manager General contractor Accountant Here’s a closer look at each. Dream Team Member #1: A Reliable Lender Every investor needs a good source of funding, so it's a good idea to get to
If you're like many investors, you've considered purchasing a multifamily property. But is it right for you? Should You Invest in a Multifamily Property? Many investors wonder whether they should invest in a multifamily property or a single-family home. Although there's no one size fits all answer, a multifamily property may be the right choice for you. These types of properties often carry several advantages, including: More income Scalability Lower risk Here’s a closer look at each. Benefit #1 of Owning a Multifamily Property: More Income A multifamily property has the potential to let you bring in two, three, four
If you are an investor who needs to borrow hard money, and you've never done it before, you're most likely wondering what the requirements are to take out this type of a loan. This guide explains the requirements for a hard money loan so you understand the basics before you get in touch with the lender. What Are the Requirements for a Hard Money Loan? First things first: a hard money loan is a short term loan that typically offers a higher interest rate than a conventional mortgage would. Many investors use these types of loans to purchase properties at
If you are a real estate investor considering taking out a hard money loan to purchase a property, you need to know that it may be a great choice for you. This guide explains the pros to hard money loans in clear, easy to understand terms so you can make the right decision. What Are the Pros to Hard Money Loans? Many investors feel that hard money loans are the perfect solution. That's because they offer: Flexible terms Convenience Built-in collateral Here’s a closer look at each. Hard Money Pro #1: Flexible Terms Hard money loans have very flexible terms.
If you are like many people, you've heard of hard money loans before – but what are they, and are there any downsides to using one? This guide explains whether there are downsides to hard money loans and what you should be aware of if you're considering borrowing with one. Are There Downsides to Hard Money Loans? Generally, the downsides to hard money loans are only downsides for people who aren't real estate investors. They include the costs associated with borrowing hard money, as well as the shorter repayment period. Here is a closer look at each. Costs of Hard