Are you thinking about investing in real estate in 2021? It may be the perfect year to purchase a rental property, a vacation home, or to flip houses. I would be happy to help you find the perfect investment property, and I\u2019ve put together this list of tips to help you get the best return on your investment.<\/p>\n
First, consider what type of investment property is best for you and your family.<\/p>\n
If you are thinking about a rental property, such as a vacation condo or rental home, consider how much time will be needed for things like maintenance, managing a website or rental listings, and vetting potential tenants. For rental homes, make sure the areas you are searching are attractive to tenants in terms of proximity to nearby business centers and transportation hubs, and in good school districts for family tenants.<\/p>\n
Is a family vacation property more to your liking? Make sure you read any and all rules pertaining to owners and guests, as well as rules on renting your property out when you are not using it, if that is something you plan to do. Also be sure that your vacation property is somewhere you foresee your family wanting to travel to often enough to make it worthwhile.<\/p>\n
For new house flippers, you want to find out what return you can expect to get in your market area and talk to contractors and suppliers to get realistic estimates on renovations, both in terms of price and time to completion.<\/p>\n
Here are some additional Do\u2019s and Don\u2019ts for investing in real estate:<\/p>\n
\u2022Do aim for at least a 15% return on investment.<\/p>\n
\u2022Do look for homes priced in the low end of the median price range.<\/p>\n
\u2022Do look for 3-bedroom, 2-bath single family homes for rentals or flipping.<\/p>\n
\u2022Do focus on one neighborhood or area.<\/p>\n
\u2022Do purchase rental properties close to your home if you plan to manage them yourself.<\/p>\n
\u2022Do use one real estate agent to help with all your buying and selling needs.<\/p>\n
<\/p>\n
\u2022Don\u2019t purchase a second property until the first is earning revenue.<\/p>\n
\u2022Don\u2019t buy properties that you wouldn\u2019t want to manage, even if you plan to use a property manager.<\/p>\n
\u2022Don\u2019t buy a home that you cannot afford to carry for several months in case of a slow market.<\/p>\n
\u2022Don\u2019t buy a home or condo without having inspections performed.<\/p>\n
\u2022Don\u2019t buy without title insurance.<\/p>\n
\u2022Don\u2019t buy more properties than you are able to manage.<\/p>\n
As I said, I can help you search for investment properties. Sometimes buyers make the mistake of searching on their own and contacting the sellers or listing agents directly. Working with several different people wastes your time and increases the chances that you will miss out on a deal. Also, working with one agent allows that agent to learn your tastes, needs, and parameters, so I can be out looking for the right property while you are busy living your best life!<\/p>\n","protected":false},"excerpt":{"rendered":"
Are you thinking about investing in real estate in 2021? It may be the perfect year to purchase a rental property, a vacation home, or to flip houses. I would be happy to help you find the perfect investment property, and I\u2019ve put together this list of tips to help you get the best return […]<\/p>\n","protected":false},"author":117254,"featured_media":29,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,44],"tags":[10,49,45,46,48,50,26,47],"class_list":["post-27","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying","category-investing","tag-finance","tag-income","tag-invest","tag-investing","tag-lease","tag-property","tag-real-estate","tag-rental"],"_links":{"self":[{"href":"https:\/\/leiaunaanderson-southerncalifornia.sites.cbmoxi.com\/index.php?rest_route=\/wp\/v2\/posts\/27","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/leiaunaanderson-southerncalifornia.sites.cbmoxi.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/leiaunaanderson-southerncalifornia.sites.cbmoxi.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/leiaunaanderson-southerncalifornia.sites.cbmoxi.com\/index.php?rest_route=\/wp\/v2\/users\/117254"}],"replies":[{"embeddable":true,"href":"https:\/\/leiaunaanderson-southerncalifornia.sites.cbmoxi.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27"}],"version-history":[{"count":1,"href":"https:\/\/leiaunaanderson-southerncalifornia.sites.cbmoxi.com\/index.php?rest_route=\/wp\/v2\/posts\/27\/revisions"}],"predecessor-version":[{"id":28,"href":"https:\/\/leiaunaanderson-southerncalifornia.sites.cbmoxi.com\/index.php?rest_route=\/wp\/v2\/posts\/27\/revisions\/28"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/leiaunaanderson-southerncalifornia.sites.cbmoxi.com\/index.php?rest_route=\/wp\/v2\/media\/29"}],"wp:attachment":[{"href":"https:\/\/leiaunaanderson-southerncalifornia.sites.cbmoxi.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/leiaunaanderson-southerncalifornia.sites.cbmoxi.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/leiaunaanderson-southerncalifornia.sites.cbmoxi.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}