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What Does It Mean to Build Equity?

 

Building equity in a property is easy if you know what you are looking at and purchasing. Buying the 100's and 100's of properties I purchase has taught me. Let me give you some examples.

Buying a home is usually going to be your best bet as an investor. I know that there are other types of investments that have a company doing it with a lot of investors, but I'm talking mainly about single investors. 

The key is getting a property in an area where the prices are trending up. You can get a report from your Realtor that shows you any area's pricing trends.

I also look at the amenities that are close by. For example you need to know why certain companies open stores in an area. Heinen's, a local grocery store caters to higher income families so I know if there is one of their stores in the area there are high income individuals in that area. 

So when you are looking in any area say to yourself would I live here? Keep in mind your situation and just say to yourself if the amenities are places you might shop at if you lived there.

Lastly I go and sit at a Starbucks or any other coffee hub and study the population in the area and what they are driving. That also lets me know the general income in an area and if I want to purchase real estate in that area for me or my clients. 

There you have it, get the information on the area's pricing trends and look at the amenities in and around that area.  Look at the vehicles and if you can hang out at a coffee house in the area do it. 

Need information on Real Estate in Cleveland or Phoenix 
call me (Brett) 216-703-5740 Fathom Realty or text "info" to +12164555264

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