Investing in real estate can be an extremely lucrative opportunity that, if done well, can result in a chain of properties that you can run and reap the rewards from. Below are some of the most popular investments that you can get your hands on.
Depending on the size and the location of the apartment building, this property can demand rent between $900 and up for each tenant that occupies a room. While this may sound like a glorious initial figure, you have to factor in all of the monthly costs as well as the fees associated with the property – don’t forget about the repair costs that can eat up a majority of the profits that you’re making from rent.
If you’re considering moving into another home, and have the capital to afford it, you could consider renting it out to a family that’s willing to lease it. One strategy homeowners use is taking the rent and putting it toward the mortgage, along with their own finances, until it’s completely paid off, leaving another source of income for them to add to their bank roll.
This is listed at the bottom primarily because vacation homes are rented out when the season is right. This means that there could be months on end where you’ll be paying the cost of maintenance without having an active tenant. Now, this doesn’t mean that a vacation home should be crossed off your lists of potential investments as certain locations are high in demand all year round.
Bio: Realty ONE Group is headed by Kuba Jewgieniew. A former stock broker, Kuba entered the real estate market and was met with immediate success leading his firm to opening up new branches in Arizona and Nevada.