Rental properties are a popular choice for entrepreneurs looking to create passive income and sustainable wealth. One way to do this is to own a single-family home, duplex, or condo and rent it out on a monthly or yearly basis. Here are some tips for building a profitable rental property portfolio:
Real estate is a great way and really one of the only ways you can create a business and wealth through purchasing and using other people's money. As a Realtor I have purchased and sold 100's and 100's of properties.
Making money in real estate is simple if you do it one property at a time. Sometimes investors get ahead of themselves and think too far ahead.
Myself I have learned to own real estate that I can personally purchase myself. Doing real estate that way has led me to learn a lot in buying, leasing,managing and selling real estate.
Keeping real estate running profitable requires a one stop shop if you are not living in an area. My companies have created a lucrative and easier way for investors to tap into the investment real estate world.
The key is having success pretty much out of the shoot and being comfortable doing it.
Doing as many properties in investment real estate helps me understand what is a better investment and what it will take to make a property work for the investor.
Usually it is the rehab and property management that most investors have many issues with. That is why I have both companies under 1 roof. 95% of all rehabs stay on budget (some need heaters and extra plumbing).
Property management is the next issue for investors. Getting a property ready to lease after a tenant moves out and leased can take 3-6 months with a lot of companies. We almost always have everything done including a paying tenant in 60 days or less.
I recently saw a home we managed and the next management company took from Sept-March to rehab and lease it. They also lowered the amount we had leased it for.
Having a company that cares more for their clients than just the bottom line is what every investor needs!
Need great Investment/income Real Estate to build your future with?
Call me (Brett) 216-703-5740 Fathom Realty or WhatsApp me
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Thank you