Welcome
If investing is your next move, then we need to talk. There are several ways to invest including but not limited to: investing for rental income, flipping residential homes, flipping multi-family complexes, building new construction, or buying your first home & renting rooms.
The conventional way to invest is to focus on either Rental Income and/or Appreciation.
Simply buying a house means you’re investing in real estate on some level. But there’s a difference between owning your own home and investing in other real estate property. When you own your home, you won’t actively make money or increase your monthly cash flow off of the property.
The fact is, paying off your home is one of the best long-term investments you can make. It’s so important that I recommend you do that before investing in any other type of real estate. Owning your home outright is a huge part of achieving financial peace. As long as you can continue to pay the taxes and insurance on your property, you don’t have to worry about ever losing your home. Eliminating that risk not only gives you peace of mind regardless of the ups and downs of the real estate market, but it also frees up your budget to start saving for other types of investments.
Owning your home outright allows you to have many more financial options—now and down the road.
Owning a property that you rent out is another form of real estate investing.
The benefit to this is that the rental income becomes an additional revenue stream, which can be used for retirement. It could easily add thousands of dollars to your yearly income. Then, if you sell the property, you could also earn a nice profit if it has increased in value. You could rent out anything from a bedroom to a whole house to a commercial property like an apartment building.
I know this sounds great, but listen up: Renting out a property brings its challenges. While you’d think rental income would be consistent month in and month out, there could be seasons someone doesn’t pay rent or you find yourself in between renters. You also have to consider the additional expenses of maintenance, repairs and insurance.
In 2017 alone, over 200,000 single-family homes and condos were flipped! Flipping a house means you purchase it, make updates and improvements, and then sell it—all within a fairly quick amount of time.
When flipping a house, remember that the key is to buy low. In most cases, you can’t expect to make a decent profit unless you’re really getting a great deal on the front end.
House flipping is appealing because it’s a quicker process than renting a property for years. In just months, you could get the house back on the market and (hopefully) turn a nice profit. But just like other investments, there’s a risk you won’t make money on it. You could even lose money.
The downside of house flipping is that updates and renovations have the potential to cost more than you plan, and those costs could eat into your profits. It takes a lot of time and effort, so you need to think about whether or not you want to devote that kind of energy to such a project. And before you jump into house flipping, talk to us about the potential in your local market.
So Again, If investing is your next move, then we need to talk. Lets Get Started!
