I’m always being reached out to by individuals who are interested in getting started in Real Estate. I always tell them that there are three basic keys to beginning your Real Estate investment goals on the right foot.
Number one, is a use change. This is when you come into a property and perhaps flip it or change it from residential to commercial. Or perhaps, you turn the property from a single family into a multi-family. Ultimately, you come in and alter the property in some way, to either sell it or rent it.
The second way to get started, is to buy a property and hold onto it. You can then rent it out as either a passive income, or use that money to pay down the mortgage. This will allow you to gain further equity on the property.
The third way, is an Appreciation play. As the market for seller’s goes up, so to will the value of the home, offering you the investor a greater return on your investment. The market does fluctuate, but generally the value of a property will increase over time.
The ideal situation in a real estate investment, is a “triple play.” This is where one rents out a property to gain passive income, and over a few decades, the value of the home increases having acquired large amounts of equity in the home.
Keep in mind that it’s very important to work with a seasoned investor to help ensure your ideas become profitable. That’s where the Matin Real Estate Team comes in. Please come talk to us. We would love to help you with a plan, even if it’s 6 months or a year out. That way you can get your finances in order to ensure profitability in your ventures.
Begin with a plan, so you can get your finances in order and ensure maximum profit in your venture!