Some cool condominium images:
Terrace Row Condominiums
Image by davereid2
Terrace Row Condominiums Construction Nears Completion
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Question by Richard: What is the best way to invest 0k in real estate now?
Do not like REITs and risky real estate investments. Looking for rental property and monthly income and the ability for the property to maintain and increase value over time.
Best answer:
Answer by Margaret W
First, mind determine what your money can buy. Loans for non-owner occupied investment will typically be around 75% loan to value, viagra 100mg maybe 80%, viagra sale so you’re looking at an investment of around $ 600,000. (Probably less when you factor in closing costs and reserves). If $ 150K comprises all of your liquid assets, I wouldn’t sink it entirely into the property. You will need to prepare for unexpected expenses such as repairs, evictions and tenant turnovers. If you want your property to increase in value over time, be prepared to invest in it.
Next, are you thinking residential or commercial? Residential is easier to get into capital-wise. I don’t know your area very well, but in my area, $ 600K will not buy much in the way of commercial property, but it would buy a decent multi-unit residential property. However, residential property can be difficult to maintain and manage. The renters may trash your property and there are residential landlord tenant laws that typically favor the tenants in most states. Commercial landlords tend to have more rights than residential landlords. (Check your state laws to verify this.) Also, commercial leases are often triple net (NNN), whereby the tenant(s) pay taxes, insurance and maintenance. But like I said, these properties will cost more.
Whatever you do, I would research your market fully and make sure you have an excellent broker representing you. Understand trends in your area. I think these days people are migrating from the suburbs to urban centers and employment hubs. Many are returning to school and are choosing public transportation over driving. Are these trends happening in your area. If so, make sure your investment will benefit from them.
I wrote some articles on the subject of investment property which I’ve linked below and hope to add more in a couple of weeks. Good luck. I think it’s exciting that you have such capital to invest in this market.
http://hubpages.com/hub/InvestmentPropertyAnalysis
http://hubpages.com/hub/Real_estate_Investment_mistakes
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