Real Estate Investing
Secondly, it’s also good to pay attention to the area. Which neighbourhoods are in an area of decline? Are there any developments, or road projects that would directly effect the value of the property? Is there an area of improvement that might be worth getting into? I also think that it is important to plan to spend 1% of the value of the property for maintenance and upgrades. We want your investment always looking good. It is a terrible thing when you let your rental go, which affects your neighbourhood and it starts declining, which in turn effects the overall value of your investment.
Finally, what’s stopping you? If you wait a year, you’ve already missed the 5% increase you would have gained. Have your knowledgeable real estate expert get you started.
Check out The Real Estate Renegades for more insight into investing.