According to Richard Branson, “Luck is what happens when preparation meets opportunity.” In other words, if you’re going to become a successful real estate investor; start preparing now and when you find that perfect house, the mythical creature that is “Luck” will arise.
Current updates on the real estate market, private money, hard money, and trust deed investing.
After ten years of steady economic growth and low interest rates, inflation is now beginning to rise in the U.S. Inflation is expected to continue to rise, and it’s vital for real estate investors to understand its effects and how to mitigate it.
Investment property is an excellent way to build personal wealth. The key is, of course, to sell for much more than you purchased and put into it. When you see you can hit that point of cashing in, you’ll need to be ready to take advantage of the opportunity.
As a real estate investor, your main objective is creating a property that has value. That value can be through fixing and flipping or renovating and renting. When you go to list or rent, you’ll want to arrive at a number that makes money for you but also makes sense for the property itself. Once you have obtained a property, it’s all about improving its worth. Many factors determine a property’s worth—some of which can be enhanced through your renovation efforts. Let’s look at what will influence your final price.
In looking at the cities with the most growth, it’s basically looking at where the country wants to live. Many people are flocking to west coast cities, finding them to have stable employment, lots of amenities, good schools, and a housing market that still affords the middle class a chance at homeownership. With the growth in these cities, it’s a good time for investors to consider buying properties there with the opportunity to either have rental income or to flip and resale.
When it comes to commercial and residential mortgages, they have one similarity: they involve property. For the most part, that’s where their similarities end. If you’re new to taking out a commercial mortgage, you’ll probably soon discover that there are some significant differences, especially if you’re more familiar with the residential market. Here are some of them:
Buying a luxury home is quite unlike purchasing a conventional property. From the location to square footage, you’re paying for a premium, high-end asset. However, just because you’re purchasing a luxury property doesn’t mean you want to offer a large down payment—or perhaps you don’t have the free capital to do so.
When you’re on the brink of starting a new business and you want to own a property rather than rent, you may need to take out a commercial mortgage. Regardless of where you’re at in the application process, the chances are you’re feeling a sense of frustration. Commercial mortgages are notoriously difficult to get. They come with a higher degree of risk, which means banks ratchet up their minimal qualifying criteria.
Hard money provides a means of borrowing from someone other than a traditional mortgage lender. It can be a good option when you need a loan fast, but not everyone can get a hard money loan.