Asreal 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 potentialROI.
There are many advantages to investing where you reside, including being able to manage the property and therehab. 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?
Author:Kate Fadden Phone: 360-483-6483 Dated: August 11th 2015 Views: 512 About Kate: ...
View our latest blog posts in your RSS reader. Click here to access.
Bellwether Real Estate is an innovative marketing company that happens to be amazing at making real estate dreams come true. At Bellwether Real Estate, we provide the highest level of customer service with our team approach, proactive marketing, cutting edge technology and innovative mindset.
South side Bellingham neighborhoodsSouth side Bellingham neighborhoods
"I wanted to take a moment to commend Heather Williams for the help she provided us in our search for our new home in Lynden. We were from out of state (New Mexico) and quite frankly were at a loss on how to proceed. We provided input as to where in general we would like to locate, the size of house and property, costs and other considerations. Heather worked diligently, scouring the list of many properties in the area, showing us numerous houses until we were able to locate the one we thought suited us best. There were a lot of things that needed to be fixed before we could close and Heather worked with the seller's broker to address those issues. I have always maintained that to be successful in professional life, one has to have good interpersonal and communication skills and Heather is exceptional. I also maintain that one has to be "on top of their game", know their business well (in this case the marketplace - average prices, what's trending, safe neighborhoods, environmental conditions/concerns, etc) and again Heather was great. She provided us with excellent feedback as we winnowed our list and ultimately found the home we were looking for. I highly recommend Heather."