REAL ESTATE INVESTING IS FOR YOUR FUTURE
Want to invest, but not sure in what you should invest? Real Estate can be a high-stakes industry, but the profit potential is high, and that is what attracts people year after year. Many people have become wealthy from investing, and some have become wealthy from investing in Real Estate specifically. Real Estate investing has been part of a trend, mainly due to the popularity of home-buying and home-improvement shows. If you want a real look at what’s available for you to create your own stream of income, you have more options than you may realize.
FLIPPING HOUSES FOR SALE
The television show, ‘Flip or Flop,’ a husband and wife team purchase properties in which they can see potential, and transform the homes into something new and magical. Many people have taken this show to heart, and have looked into, or already begun, purchasing homes to flip, and sell at a profit later. Flipping a home, however, is not quite as simple as a show may make it seem. Homes must first be purchased, and any homeowner can tell you what a long and drawn-out process the purchase of a home can be! Before you’re even ready to buy a home, it is strongly advised that you do not do this in your name – even if you are an LP or LLC, this will protect you and your loved ones from a financial decision that could result in a lawsuit. Once you’ve established a company, or a partnership, you’re ready to purchase a home. Auctions are a good place to start, but homes there are sold as they come, and you won’t have a chance to see. Banks may list homes for sale themselves, but they, too, come as they are. Buying a house that has been on the market is another strategy, but they could be more expensive than your budget allows. After you’ve made your purchase, you’ve got to find a construction company that is willing and able to take on your project at an affordable rate. After that, your house is on the market. This is a process that can take months, so get ready, if this is what you decide to do.
Apartment buildings were once called, ‘tenements,’ are are a hallmark of city life. Apartment buildings are an investment that require a large amount of upfront capital, but are known as a stable and steady source of investment income. Once you own an apartment building, you may feel less like managing the building yourself, and hire a management company, or a landlord. You can save that money by managing the building yourself, but that can be taxing on your personal life.
RENTING OUT OFFICE SPACE
Some people call office space the ‘flagship’ of real estate investing. Office space is a low-maintenance investment that is usually steady and reliable. Businesses will usually stay in one place for years at a time, and there is low turnover of tenants in business leases. If you’re lucky enough to get to purchase an entire building, you’ve got a building full of possibilities.