If you’re looking to diversify your investment portfolio, you may want to consider purchasing investment property. Depending on how hands-on you want to be, you may want to purchase real estate as a short-term investment; fixing up the property and then selling it immediately for profit. For a long-term investment, rental property can provide a steady income stream over the longer term.
If you’re considering purchasing real estate as an investment, here are a few things that you should consider:
You’ve finally decided that it’s time to buy a house. Your family looks at area listings and picks out a few homes to view. In the process, you find the house of your dreams, only to watch it slip away as another potential buyer puts a bid on it, backed by their preapproval, whereas you don’t even know what your credit score is.
In order to be taken more seriously as a buyer and avoid disappointment, here are a few things you should do prior to looking at current homes on the market:
Television today is bombarded with a variety of real estate programs. House hunting, home renovation, home flipping, these programs have stimulated the interest of many individuals to start investing in real estate for themselves.
While many first-time investors lean towards purchasing single-family homes, others may not want to become landlords overnight. If you’re looking to invest in real estate but have no desire to screen applicants, handle leaky faucets or broken appliances, or any other emergencies, there are a variety of options available. Here are a few: