Remember the board game Monopoly? Roll the dice and then move your token (e.g. race car, thimble, etc.) around the board. If you land on open property, then you have the opportunity to buy it. Otherwise, pay the rent if someone owns it. And don’t forget to collect $200 as you pass GO. Looking back, Monopoly resembles the real estate world quite well. The board game has 4 sides with properties that increase in value as you travel around. Properties range from the very cheap to the high end luxury. 1 house on Baltic … continue reading.
Investing in real estate can be a risky business. Some risks are to be expected. When owning a rental, there’s going to be periods of vacancy. Heck, I just experienced over a 2 month vacancy. There’s also going to be maintenance and repairs that as the owner, you’ll need to budget for. While all rental properties are susceptible to these risks, other risks can be disastrous. Some homes are located in very high risk areas just waiting for a calamity to strike. Take what happened this past summer for example. The massive Blue Cut wildfire … continue reading.
In this post, I want to share 8 signs for identifying an out-of-state real estate market to invest in. Truthfully, these are positive signs to identify a good market anywhere, whether local or not. By market, I’m talking about a large metropolitan area like Atlanta, Denver, or Memphis. So the tips in this post will focus on higher level macro factors to help you evaluate a large city. Factors such as school ratings, crime statistics, and other demographics won’t be covered here since they are more relevant to identifying sub-markets (i.e. neighborhoods) within the … continue reading.
When you’ve committed yourself to something, it can be so tempting to just jump right in before you know everything there is to know. The advice one often hears is to just get started, learn as you go, and if you fail, fail quickly so that you can pick right up again. Problem is that with real estate, you may not have the luxury to fail quickly if you signed a contract to buy a house. You might be stuck with a property that ends up under-rented, vacant, or unsaleable if you … continue reading.
“Live where you want to live, but invest where the numbers make sense.” I wholly agree with Robert Helms at The Real Estate Guys Radio Show who often says, “live where you want to live, but invest where the numbers make sense.” So technically, you don’t have to invest out of state, but you do need to find a market where you can achieve your real estate goals. Whether your goals are for cash flow, appreciation, or something else. I invest for cash flow. While I like appreciation, my criteria for … continue reading.