Whether you are just starting out in investing or are looking to add more properties to your portfolio, you want to find the best investment properties. Before you start searching, you want to make a list of your criteria–are you looking for a residential or commercial property?
Do you want a house to use as a rental, or are you hoping to make your money by selling it? Are you planning on living in the home while renovating it, or do want to flip it for a quick profit?
The best investment properties are the ones that best match your situation and goals. When searching for your next investment property, you want to concentrate on finding properties that will be sound investments for your purposes and which will bring in money monthly if you are renting them out , or if buying a business, appreciate while you hold them, and require no more time and money that you have to give.
If you are interested in purchasing an existing business property, find one that is successful. Don’t get distracted by failing businesses with the promise of potential. Look over the books, check existing obligations such as lease agreements or restrictive covenants and ask the owner why they are selling, and ask yourself if you have the ability to run the business. If the success of the business depends on expertise you don’t have, walk away unless you know you can get the right people working for you.
The future landlords will need to choose a building style. A single hire-rise apartment, smaller apartments grouped together, or a single family home. Which one is right for you depends on your circumstances. The high-rise building can house lots of tenants with low maintenance, but are expensive to purchase.
A single family home typically needs to have a high rent to make the investment worthwhile. Groups of small apartment buildings can be inexpensive, but each building will require maintenance. A single large apartment building avoids this problem, but tends to be expensive.
Some of the best investment properties, especially for beginners, are undervalued single family homes that you fix up and resell for a profit. This is commonly known as house flipping. For those with little money to invest, living in a home while fixing it up is a good option.
People looking for a faster payday will spend just a couple of months improving the home before reselling. Avoid taking on more than you can handle, and don’t spend money on improvements that won’t add value to the home price
This article is from BuyInvestmentPropertyInfo.com
Looking for more information on investing in Tallahassee, Florida? Call us at Pro Players Realty to get all the information you may need. We can help you find the investment property that fits all of your needs and get you the most for your dollar!
VISIT WWW.PROPLAYERSREALTY.COM FOR ALL OF YOUR TALLAHASSEE, FLORIDA REAL ESTATE NEEDS!
OR
CALL (850) 942 - SOLD TO SPEAK WITH ME, JOHN, PERSONALLY!
John Stehmeyer Realtor/Broker Buyers Specialist First Time, Move Up and Luxury Consumer Resources Advisor Graduate Realtor Institute Investors Consultant Property Marketing Expert Remodeling Renovations Coordinator Seniors Real Estate Specialist 850-CALL-942-SOLD! ProPlayersRealty.com John will make your best deal buying and selling! Values God, Family, Work At Pro Players Realty you are family and You come before work! This message is not intended as a solicitation to any individual whose property is listed exclusively with another broker.
Comments(0)