The Crawford Group
With so many investment opportunities out there in the world today, if you have the money to invest you have a good chance of making a valuable return. It is easy to get caught up when people say to you "Oh it is easy money" "I'm going to make you a ton of money". When some one tells you what you want to hear, you are most likely going to agree with them, Right? It is the way most people are programmed to think, "Oh you want me to be Rich? That's great... So do I"
Done Right any Investment can make you mounds of wealth. If you continue to read on you will learn the basics of what it means what it all entails when you decide to invest in Real Estate.
First off any potential investor has to first identify the type of investment and/or return they desire. Whether it be a long term Investment or a short term investment, that choice is the primary factor in choosing between the two most popular types of Real estate investing... Renting and Flipping. But how do you choose which form of investing is best for you?
​What does Investing mean to You?
Copyright
Flipping 101
Do you have experience in home Construction/Remodeling? How many extra hours a week of free time do you have? Do you have any contacts in the construction service? Do you have enough money to provide for necessary repairs?
These are all questions you have to ask youself when you have interest in flipping homes. Before you even decide to look at the Comparative Market Analysis of any home, you first need to make a decision whether you are willing to put in the work to make the most out of an investment. How much money for your time would you like to earn? Do you want to make $1,000/day of your time? Or would you prefer $10/day?
Both can happen, both won't be easy... Whether you make $1,000/day or $10/day when you come out at the end you will realize the amount of effort you put into the investment and whether it was deserved. You will either say to yourself "Wow that was tough... on to the next one!" or "Wow that was tough... was it worth it?"
There are many areas of Columbus that are begging for investment buyers to come in and turn around their area. We have recently seen a huge turnover in the Italian Village area, Short North Area, and areas that surround the Downtown Area such as Olde Towne East. With the growth of the desire to be close to downtown Columbus due to work and the atmosphere, there are great returns to be made by those who hop on the wagon.
Planned Correctly, there is little to no chance that you will come out negative on your investment... It all depends on Follow through.
To Learn more about Investments or if you have any interests or questions, Sign up for our FREE Monthly email subscription of "Investing Columbus Real Estate with The Crawford Group"
By emailing Luke.Crawford@HERrealtors.com or Calling Direct @ 614.395.2576
WITH
THE CRAWFORD GROUP
WHY BUY COLUMBUS?
Rental Properties
In every market you can always find areas with High Rental unit percentages, whether it be close to a university, or in a part of town that has what a resident wants but is unattainable for purchase. You have seen these your whole life, driving past large apartment complexes and through College towns. In those areas there are many Properties that investment buyers have put their money in to rent out and make a valuable return on. But where did they start?
If you were to talk to an investor you would most likely get two different answers, and they usually deal with the time in which they started to invest in real estate. One side will tell you their first ever home purchase was an investment. The other side will tell you they waited until they had the money for it, but wish their first purchase was an investment property. Leading to the main point... It is never too Early or too late to think about investing in Real Estate.
There are many opportunities out there in a market to turn a property into a rental unit, it all depends on if the money makes sense, and obviously if the area even allows rentals. You may see areas that look like great possible rental areas but their community association does not allow rentals, this is most common in Condo Developments that has an association clause that denies all rental properties without proof of hardship. Hardships can mean Work Related Departures or the inability to sell a property.
A lot of First time multifamily purchases start off as the main residence for the owner. While they live in one side, they rent out the other which pays close to, all, or even more than their mortgage. These are considered the best type of Investments for first time home buyers, if you don't mind sharing a common wall. This is how a portfolio of real estate investments are started.
A portfolio can be as small as one property or up to 100+ properties owned. The process of building a rental portfolio is learning to balance the amount of money earned from the rentals, the amount of money used to pay off housing fees (Mortgage, taxes, HOA fees), money put away for maintenance, then follows the profit per month. These can be determined a few different ways with the calculation of the Gross Rent Multiplier, and/or developing your desired Cap Rate.
To Learn more about Rental Property Investments or if you have any interests or questions, Sign up for our FREE Monthly email subscription of "Investing Columbus Real Estate with The Crawford Group"
By emailing Luke.Crawford@HERrealtors.com or Calling Direct @ 614.395.2576