Purchasing a property for an investment is very different then for your personal home. If you are planning to become a real estate investor consider sitting down with a real estate agent. We can help you put together an investment plan. Here are 5 real estate investment tips to get started.
Northern California offers multi family properties that still cash flow. Most buyers here need their expenses to be paid by the rent received. However, purchasing in San Francisco, even with the highest rent in the country, purchasing a multi family property will NOT net you a cash flow because the prices are so high. This area would be attractive for an investor who has lots of money they need to put into an investment and are looking for appreciation.
This will be a cushion if something ever leaks, breaks, floods or burns (even insurance has a deductible).
Unless you are paying cash, working with a good mortgage broker will save you. Can you afford the property? How long will the loan take? How long before you can refinance?
Apartments, duplexes, triplex, condos, town houses, single family homes.. Each has their own benefits.
Typically the real estate market is in full swing near Spring and the tapers off around September. As we near the Holidays most people are focused on Holiday issues. A savvy investor is ALWAYS looking. Some of the best deals are put on the market during October- March.