Buying investment properties can be an excellent way to invest right now, especially if you have the money to invest. Many people have become disillusioned with the performance of their 401k's, stocks, and other investments. It is actually possible to take an IRA or 401k and move it into a self-directed IRA model, and invest it into real estate. With housing prices at a low, and interest rates at an all time low, savvy investors are venturing into real estate. Demand for rental housing has been increasing, and certainly will increase when interest rates rise in the future --when interest rates price individuals out of the market. Before buying that first investment property, there are some things to consider, and an experienced realtor can help.
The market is moving at a pretty fair pace in Olympia, Lacey, and Tumwater --particularly in bargain range of prices. A low priced home may be a bargain, or it could be a symptom of condition. If you are thinking of investing in a house, one has to view the price, the interest, and other aspects of the transaction as a numbers and business decision. Houses that are in good condition and require little work can be rented and generate income until the value of the home appreciates and it can be sold. It sounds cliche but that age old adage in real estate still applies to investment properties, location, location, location. A good investment will be in the best location for renting as well as the best location for predicted development or appreciation to realize the best return on investment. Of course, as with all investments, there are risks involved and the best recommendation is to involve your advisors in real estate law and taxes in any decision. Budgets are important, as it the ability to carry the house during any periods of vacancy. Landlord insurance is always a good idea, but it typically carries a slightly higher cost. Another decision would be if you are going to be the active landlord or the passive investor using a property management approach. If you'd like to learn more about investing in real estate, we offer regular classes on how to begin, and of course we are there with you every step of the way.
RE/MAX Professionals real estate brokerages employ full time, highly productive, experienced and educated brokers focused on serving their real estate clients and communities at the highest possible level to create the best possible result...even in these rapidly changing times and economy. We provide accurate, detailed information, data and advice so that our clients make informed decisions. We're committed to life long relationships founded in integrity and mutual respect. We're here to help...at all stages in all situations.
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"This is Lance Saunders, and buying a house with Cari was one of the most painless things that i have ever done. I have bought cars that were harder to buy than our new house! i simply told Cari and Kim Harmon with Fairway Mortgage service what I had to work with and they made it happen for me with less than a total of $1000 out of pocket. i would have bought a house a long time ago if i had known how easy it could be with the right people working for you. Thanx again Cari and Kim you ladies are awesome!