Did you ever think about investing in real estate, but never pulled the trigger?
Now is a good time to get started. Home values are rising, buyers will pay top dollar for nicely remodeled homes, and there’s a severe shortage of affordable rentals.
What’s Your Investment Goal?
Before you invest your hard-earned money, you should define your goals!
You have two options when you invest in real estate:
- Rehab and flip for quick profit
- Buy and hold for long-term gain
Flipping Houses when Inventories are Low
To make money flipping houses you need to search for properties in areas where homeowners (not just landlords) buy.
Often you can find them in gentrifying neighborhoods, such as Southern Orchards (South of Children’s Hospital), Milo Grogan (just north of I-670), Linden, Franklinton, or the Hilltop.
There you can purchase homes for under $100,000 that require $50,000 to $70,000 in rehab and will sell for $250,000 as a flip.
Flipping houses is hard work and takes money. You will have to hire and supervise contractors. You have to be efficient and focus on repairs that substantially increase the value of the home.
Gain Long Term Wealth as a Landlord
Buying homes for rent is an excellent wealth building strategy.
Your tenants pay down your mortgage, while the value of the property slowly increases over time. You will earn passive income from monthly rent and may be able to take advantage of tax benefits.
When you sell your property after 10 or 15 years it may have doubled in value, and a good portion of your mortgage will have been paid off.
How I Can Help You Become an Investor
I have been investing in real estate since 2003. We acquired a number of single-family rentals before the Great Recession of 2008. Last year, we sold several properties for a nice profit.
I’d be happy to share my experience, and the ups and downs of being a real estate investor.
I can help you develop a successful real estate investment strategy, identify properties to buy, and analyze deals for cash flow and profit.
Do You Have Questions about Investing in Real Estate? Call or text me at (614) 975-9650!
Susanne Novak has been a Realtor since 2007. She is the broker and owner of RE/MAX 24/7 in the Dublin Historic District. Susanne typically helps 50-60 families each year with their real estate needs. She's your trusted advisor when you search for your dream home, and a skilled negotiator when she lists your property to get top dollar when you sell.