Just like buying a primary home, investing in a rental property requires a lot of consideration, research, and decision-making to guarantee a positive return of investment. Though these tasks may seem daunting to a first-time real estate investor, they are essential to making sure your property will generate the revenue you desire.
If you are a golf pro, outdoor enthusiast, beachgoer or theme park lover, at least one of these vacation spots will appeal to you. Even more appealing, the home prices! According to Zillow’s “Best Places to Buy a Vacation Home” list, these are the top four spots based on location, price and investment potential.
Real estate investment is just like any other business; it requires a plan to measure success. Whether you are an amateur real estate investor beginning with your first rental home or in the works of developing multiple properties to flip, setting goals is an essential part of becoming a successful real estate investor. Determine the who, what, when, where, why and how for each property.
\When it comes to building your investment portfolio, it’s a good idea to have a diversified amount of income-generators. According to a 2014 Gallup survey, 30 percent of Americans said real estate is the best type of long-term investment over gold, stocks, and mutual funds.
Looking for a long-term, stable income generator with a large return on your investment? With home affordability at record highs, a booming rental market, and appreciating home values, investing in residential real estate could be a great opportunity for you to earn extra revenue and expand your mortgage goals.
According to TIME Magazine, “In a new pole, 38% of Millennials say travel is part of the American Dream.” They also say that millennials consider owning a home much less part of the American Dream than the generations before them, i.e. Baby Boomers and Gen X. So it brings up an interesting concept, what if maybe you should buy your 2nd home, or vacation home, before buying your first primary residence?