Advantages Of Investing Where You Reside

Advantages Of Investing Where You Reside

Advantages Of Investing Where You Reside

As real estate investors, you have the option to invest in properties around the world. After trial and error, you may have learned what type of properties produce the best ROI. We have learned that some of the most successful real estate investment properties are located near the investor.

Real estate markets can be very different in as little as 10 miles depending on the MSA. Understanding the market in which you invest is important as to create realistic expectations and have an understanding of the potential ROI.

There are many advantages to investing where you reside, including being able to manage the property and the rehab. If you live near the property, you may not need to hire a property management group, which usually costs investors 15% of the property’s monthly rent. Living near the investment property gives you the ability to check in on contractors, track the project, sort out any issues and fix certain things around the investment property including lawn maintenance. Seeing the project and not relying on the contracts word of mouth, creates a better investment and a higher success rate. The contractors have no obligation to the lenders, the borrower does.

Another great advantage of investing near where you reside includes the ability to get involved with various groups in the area, including real estate groups, to network, find resources, and build a professional team.

What advantages can you add for living near your investment property?

Kate Fadden Headshot
Phone: 360-483-6483
Dated: August 11th 2015
Views: 522
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