Investing in real estate is simple in concept. There have been millions made and millions lost.
So, how do you end up being the one who makes the money?
It comes down to a few things:
- Have a clear strategy (timeframe, location, type of property, expected return, plan for a few bumps in the road)
- Surround yourself with knowledge (lenders, real estate agents, appraisers, maintenance/repair crew, local zoning officials, politicians) and learn from the investors before you. There is no substitute for doing your homework.
- Stick to the plan
- Always know how and when you plan to sell your investment (Exit Strategy)
You are welcome to call or e-mail me to set up a time for us to discuss your situation and real estate needs. 770-354-8950 or robbyrobinson10@bellsouth.net.
For my purposes, I break things down in the following categories:
Residential Rental Property: (Property purchased with the intent to receive income for leasing the property for someone to use as their primary or secondary residence). Most property on the market is priced for someone to buy as their primary residence, so the numbers do not work out for rental property in most cases. It usually takes finding the property before it goes on the market, a homeowner that has to sell for some reason or a situation where the home needs significant work to get a deal that will make sense financially. There is a lot of homework to be performed, such as: cost of any repairs, determine fair market value of property, possible rent amount, past and expected maintenance, possible vacancy time, taxes, insurance, type of financing available to purchase investment property, trends in the area and trends in the specific complex/neighborhood. You will need to understand your ROI or return on investment (10%, 8%, 6%, ??) to determine what the sales price needs to be for you to get your expected return. I have tools that I use to input this information and help you see a clear picture of your potential investment.
Residential for Appreciation: (some call it flipping). This really comes down to understanding where to buy, what the potential for appreciation might be and weighing the risk and reward. This also is a good game to play with buying homes that need repairs. Areas that are being re-zoned, foreclosures, places that are being converted from low-income housing into new neighborhoods, cities that have large growth expectations can all be types of solid investments. A solid real estate agent and access to construction/repair crews are a must when playing this game. I am happy to talk with you about finding the right properties and I have construction/repair crews that do work for investors every week.
Beach Property/Gulf Coast Investments: The property in Florida and along most of the Gulf coast is going through rebuilding, major tax increases and a tall mountain of insurance issues to resolve. With tough times for some comes great opportunities for others. CNN put this article out in late October: Best Cities to Buy that showed several Florida cities to have the most appreciation in the U.S. over the next five years. I have spent considerable time along the Gulf Coast and would be happy to connect you with a solid agent that meets your residential or commercial needs.
Mountain/Lake Property or Investments: As the taxes keep going up for people up North and Florida, there has been an increased demand for mountain/lake properties. There is no threat of hurricanes and the seasons are generally mild with great summers, mild winters and beautiful scenery year round. Not to mention the lakes are plentiful. Most of these properties are in the North Georgia, Eastern Tennessee and Western Carolinas, but there are also many great lake properties around the South.
As I have mentioned before, there is only so much you can learn from surfing web sites. It would be my pleasure to assist you with your real estate investment questions and needs.
Call me at 770-354-8950 to discuss or e-mail me at robbyrobinson10@bellsouth.net with questions.
