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: 522 About Kate: ...
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"My husband and I recently purchased our first home with Chris and Stacy and we could not have asked for a better experience. Their combined skills and experience in the field became apparent from the outset. Chris's negotiating ability is truly outstanding! He and Stacy demonstrate a keen understanding of, and an obvious constant vigilance over, the local market. In addition, their customer service and general responsiveness was second to none. They were essentially at our beck and call, day or night, which really made us feel important, especially since we're not exactly high rollers! Best of all, they were incredibly honest and attentive to our wants and needs. There was never any attempt to commandeer the process and steer us in a particular direction, only sage advice and gentle nudging when it was needed. Hindsight being 20/20 it's clear that we got exactly what we wanted in a home solely due to the Erdmann team's dedication and expertise. If you are buying or selling a home in this area you would be remiss not to contact Chris!"