A Good Time To Get Back Into Real Estate Investing
When is a good time to get back into the real estate game? I feel its a great year to buy and become a bull at real estate again. After a very normal start and a weak finish in 2016, I contribute this to the election and drama surrounding such an emotional upheaval for all who care to follow current events.
Most people do want to buy a second home and invest in something they can use and enjoy during their lifetime. Wanting to invest at just the right time. Wondering when is the best time to get into the market?
They really can't see the very best time until it's in the rear view mirror.
29 TOP PICKS LAKE TAHOE AREA Currently Available Christmas 2016
LITTLE KEEPERS OR FLIPS
Hello curious buyer, the time now is excellent!
Financial advisers and accountants will never encourage doing anything fun having to do with "life style" Your going to have to be the one to make the decision and know its an investment that can additionally provide memories and times together with loved ones during your lifetime. As opposed to setting in a bank account somewhere. You may not even open the envelope each month.
No matter where you live, or your ultimate intentions there's always a diamond in the rough!
- Timing is everything!
- Flipping is no joke. Everything that takes longer than anticipated and ends up costing more than you budgeted (imagine that!)
- Estates are a great way to find homes to flip if you don't mind more rehab due to deferred maintenance
- Owner Builder is definitely the way to go, but only when your skills are up to par and you pull appropriate permits to avoid hassles later in the transaction
- A live-in flip is a fantastic way to reduce/eliminate costs
- Get an insurance policy that's in effect on Day 1. I took the gamble of waiting until the house was renovated to insure, and I'd never do that again unless its unavoidable
- Make friends with the neighbors. They're an invaluable resource for referrals if you get in a jam, they'll help you haul that insanely heavy cast iron tub upstairs, and they won't mind the renovation noise as much if they know who you are and see you're committed to improving their neighborhood
- Unless I know without a shadow of a doubt that I'll yield at least a five-figure profit, I will never finance a flip
- There are ways to avoid capital gains taxes, which I certainly do for projects.
- When staged properly, you can sell the house for more money (duh), but you can also make a profit by selling the things you use to stage. I amassed everything by shopping at thrift stores, estate/garage sales, and picking things up off of the curb and refinishing them. You can make money off the staging materials!
- Care a lot about curb appeal- It matters to buyers and is the best dollar for dollar investment you can make. That first impression, quaint and cared for. Life and colors you can present create a desire to enter along with ease of accessibility.