If you’re thinking about investing in real estate, here are the steps you need to take to get started.
First, find the right person to help guide you through the process. Our team, for example, has a lot of experience with rental properties—we’ve bought 53 of them in the last three years, and having that kind of experience by your side can save you a lot of money in the long run.
Your next step should be to know your investment goals. Are you looking for a certain return on investment? Some people might be looking for an 8% to 10% return without having to be involved with the process of maintaining their property. Others might want to have a 15% to 20% return and be heavily involved in the process.
Finally, make sure you work with a team. Working with a team means you can have different people handling different parts of the process, whether it be acquiring the property, arranging financing, renovating the property, etc. When you choose who you want to work with, there are also certain questions you need to consider. For example, is this going to be a buy-and-hold property or a buy-and-sell property? Will there be more than one partner in this deal?
We’ve helped a lot of people in different situations invest in real estate and produce a great return on their investment. For us, your goals are our goals, so if you want to get started investing in real estate, give us a call.
If you have any other real estate questions, don’t hesitate to reach out to us as well. We’d love to help you.