Tips for First Time Investors
When starting out as a real estate investor, you can choose either the conservative approach of holding a property until it increases in value or the riskier approach of "flipping" - reselling very soon after making some improvements that add value. If you plan on taking the safer approach, keep the following factors in mind when searching for the right investment property.
Look for a house or apartment unit that is close to where you live, so inspecting the property and overseeing maintenance will be easier. Choose an area where there is clear potential for future development, and you will benefit from the inevitable increase in property values. If you have the choice of either buying a newly built or recently remodeled home or a less expensive house in the same neighborhood that needs a cosmetic makeover, buy the bargain property and upgrade it for a better long-term return on your investment.
Contact The Romanski Group with Keller Williams Realty today to learn more about investing in the Lafayette and West Lafayette area markets. We also suggest reading the Millionaire Real Estate Investor book and FLIP - both written by Gary Keller to get acquainted with real estate investments.
Visit us at www.RomanskiGroup or contact us direct at 765-807-7121
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