))
How Should You Approach Real Estate Investing?
Manage episode 177536385 series 1063437
Innhold levert av Mike Gray. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Mike Gray eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.
Real estate investing isn’t for everyone. However, it can help you build incredible wealth if you have patience.
Selling in the Houston area? Get a market analysis report
Purchasing in the Houston area? Get full MLS access
I’m asked by clients on almost a weekly basis about real estate investing. The questions usually boil down to, “Does buying an investment property make sense for me?”
As you may know, I invest in real estate myself and am a huge proponent of owning property. Whether it makes sense for you or not as someone who isn’t in the real estate business depends on your goal.
When buying real estate as an investment, you have to realize that you are buying a business and need to treat it as such. What are the costs involved? What will your return be? Can you get a better return by investing your money in some other way? These are all questions to consider.
Real estate is a great long-term play.
One positive that real estate investing has is the ability to use leverage. If you put $100,000 toward a piece of property, you can own an asset worth $500,000. The tax advantages are numerous as well. You can write off capital gains, property taxes, and private mortgage insurance. Properties also tend to double in value every 20 years or so.
An investment property needs to meet the standards of the area you are buying in, not your personal standards. It’s important to do your due diligence up front when it comes to anything that is wrong with the home. The same goes for finding tenants. You need to look closely for any red flags. You can hire a property management company to handle all of this if you choose.
I look at real estate investing as a great long-term play that is as close to a safe bet as you can get. Most people regret not investing in real estate sooner once they start seeing those big returns down the line.
If you have any questions for us or want to know more about investing in real estate, give me a call or send me an email. I look forward to hearing from you soon.
16 episoder
Del
