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Ever wonder what type of person invests in rental properties?
Just like the person who paints -- it is the one who picks up the brush. There is no profile, there are just those who jump in! Is it hard to grasp? No. Is it only for the “handy with a hammer” type? Definitely not. Perhaps you, too, could add an investment property to your investment portfolio!
It’s as easy as 1-2-3:
1) Educate yourself. Give me a call, and also talk to a lender or mortgage broker. Consult with your tax adviser regarding tax advantages and implications. Understand how it all generally works and see if it sounds like a good idea for you, specifically.
2) Buy! If you have the means (generally 25% cash + good credit, income, etc.), this is the fun part. Truly! We’ll “go shopping” for a property which makes strong financial sense, and one you’ll be excited to own. I will steer you in the right direction and answer your questions along the way.
3) Manage and HOLD! Property management is not for everyone. Daunted by the idea of dealing with renters and caring for a property? It is a perfectly sound strategy to hire a property management company to do the work for you. (Figure 10-12% of rental income will get it done. This expense is tax-deductible.) Then, let it do its thing! Real estate is definitely meant to be a buy-and-hold endeavor. Count on holding for at least five years to maximize your investment.
If you’re considering making a move in real estate this year, give me a call! 541-520-2246
Investment properties are making sense again!
Ideally, an investment property pays for itself. GOOD NEWS: With the downturn in the market, and today's ridiculously low interest rates, finding a property which pays its way is readily doable once again. Want to know how to run the numbers? Want to see examples in your price range? Call Susan!
Want to invest in real estate, but can't afford to buy?
Many investment-minded folk right now are wishing they could take advantage of the deals that abound, and the juicy current interest rates. But alas, many are also low on funds due to the recent recession. My advice? Invest in what you have! If you own investment property, or only own a primary residence — put money into these properties! Maybe now is the BEST time to put that new roof on, remodel an outdated kitchen, or tackle curb appeal. Trust me, you'll be glad you did.
If you need contacts for contractors, call me! I am happy to share my book of quality professionals to help you tackle any job. Start at my Resources page!
Source: Commercial Property News, Gilligan, Eugene (11/25/08)
Investors Lured to Apartment Buildings
One of the leading drivers for the apartment market is job growth, which has been declining for the past nine months. An estimated 2.7 million jobs could be lost in the downturn, similar to the 2001 recession, reported Hessam Nadji, managing director of research services for Marcus & Millichap Real Estate Investment Services, in a recent Webcast.
But over the long term, apartments could become an appealing investment as new apartment development becomes scarcer.
Linwood Thompson, senior vice president & managing director of the multi housing group for Marcus & Millichap, said new apartment development represents only about 1 percent of inventory this year. He predicted that development will be off 30 percent from 2007 and another 50 percent to 70 percent from 2008 to 2009.
Meanwhile, immigration into the United States continues to be strong, and many Echo Boomers, or those born between 1977 and 1994, are entering the apartment rental market.
"Apartments are likely to be worth dramatically more in 2014 than they are in 2009," Thompson forecasted.
At present, however, deal velocity will likely be weak in 2009 due to capital market dislocation and gaps between buyer and seller expectations.