Interested in Investments??

Things to Know

There are many ways to grow your wealth. But none have the kind of stability and return that Real Estate offers. And I’m not saying that just because I’m a real estate agent (I prefer to call myself ADVISOR)! I’m saying it because it’s true and I see it every day. Consider some of the most successful or wealthy people you know. I bet they own some type of property. It may be their own, an investment, or even commercial. Here’s what they know that you do not…

• Passive Income
• Tax Deductions
• Market Stability
• Simple Investment

Before you invest, there is some work to be done. (1) Find a mortgage lender that you are completely comfortable with. Some one that will answer all of your questions and is good at problem solving. Buying an investment property is VERY DIFFERENT than buying your primary residence. (2) Find a tax person! There are tax penalties to pay when you sell an investment property. AND there are tax benefits to be aware of like writing off the maintenance and improvements. Make sure you understand all that before you jump in.

Make Some Decisions

First off, what type of investment are you looking for? In my opinion, there are really 3 different categories that make the most sense for everyday investors…Buy and Hold, Buy and Sell, or Short-term Rental.

Buy and Hold means that you rent the property out. You act as landlord, or you hire a management company to do that for you. The investor has the opportunity to be completely hands on, making all decisions and doing all the work, or the investor can hire out all of those responsibilities like management, maintenance, etc. This is my personal favorite. I want to have a hand in creating affordable housing in areas of Charlotte where that does not exist. If the investment is done well, it is residual income for years to come.

Buy and Sell means that you find a distressed property, make the appropriate fixes and updates, and sell it on the open market for a profit. Again, there is opportunity to do as little or as much on your own as the investor would like. This type of investment can give a large lump sum at the end. I find the most difficult part of this is finding the right property. It takes a lot of digging, looking, and being constantly on the look out for something that will make money.

Short-term rentals are like vacation properties. Did you know that Charlotte is a destination? There are tons of rentals on AirBnB and VRBO for the Charlotte and surrounding areas. But in North Carolina, you have any other options. Mountain or beach rentals can be easily purchased from wherever you live and are equally as easy to maintain. These have an extra benefit of providing your family with a vacation destination. Many owners use the vacant weeks to entertain their own families or even business associates. Some owners even block out weeks from rentals for their personal vacations.

Location, Location, Location

These are the 3 rules of real estate investing…location, location, location! What ever decision you make about the type of real estate that you want to invest in will determine the location you should seek out. But keep a few things in mind…

• Property Taxes – this has to figure into your investment cost
• Goal – if you want to offer affordable houseing find an area in need and be creative…if you want to make tons of money in vacation rental find a popular spot with availability.
• Investigate – what type of things are on the horizon for that area?

Below are THREE (3) of my favorite possible investments:

Your Most Important Tool…ADVISOR

FIND AN AGENT!!!! I don’t care if you are looking for property in the Alaskan Bush…FIND AN AGENT!!! Yes you can find properties on Zillow, but that is not what real estate peeps do.

I’ve recently rebranded myself as a Real Estate ADVISOR, because, though I do represent you as your “agent” during the 30 days between offer and closing, I normally ADVISE people on a best course of action for up to 2 years before the contract is even written. And, no, you don’t pay for that service at the time it’s rendered. I get paid in cash when we close on a sale, or in returns when you refer me to the people in your circle. My advice is not “free”, but it is free-flowing.

If you want more info, set an appointment with me and let me ADVISE!