You have been more than ready to invest in Real Estate, you have researched the market/area and also created the financial means to do it. So now what???
There are several ways to invest in real estate and you have to be sure you want to do it in such a way that it will provide you with a good return. There are a myriad of ways to get started and so many more to also break down the bank so before you make the commitment be sure that it is something you can actually stomach because it is very likely you will be stuck with it for a while.
Lets keep it simple this time and assume you have researched the market and the area (specially if you are new to the city/town. Now what are your options? At this point you either hold or fix and sell, simple.
Both are good choices :
1. Fix and Sell implies work and knowledge of the market in order to sell the property quickly and with a return also either the help of a good project managet or the availability to organize and check multiple people doing different types of work.
2. Hold. Depending on the property and the condition, you will fix it to a tenant standard in order to maximize the rent received plus the longevity of the lease (tenants tend to stay longer if the property is in good condition and in good areas). Your choice here can be single family or multiple as in the property located in 1839 Horseshoe Columbia SC, this is a triplex so you will have three rents which will minimize your risk because if one unit is empty, two others should not be and you could cover the mortgage payment with those two. There are several advantages in multifamily property one being that all the tenants are in one place and you or your handy man would not be running all over town with repairs or what not. Selecting the right one depends on where you want to be, the type of tenants you want to have and the neighboring areas. As in our example of 1839 Horseshoe, this property is close to Fort Jackson, easy access to interstates and also short drive to USC but there are plenty of propertie sin Columbia to check out just have to find the appropiate one for your personality and interest.