If you have some extra income and extra time, getting into the real estate investing game could be perfect for you. While there is a lot to learn beforehand, you’ll come out on the other side with a steady income flow, maybe a few tax breaks, and a reliable long term investment.
From learning the basics of how the market works to figuring out what sort of property is best for you, the S4 Group is here to help. Take a look at these highlights, and let us know when you’re ready to get started.
Understand the Market
Wondering how much you’ll have to spend in mortgage? Or what similar properties in the area have sold for recently? Or what you’ll eventually be able to list your property for? Just ask us! From our online resources to knowing exactly which local experts to trust, we’ve got all of the need-to-know info about Phoenix real estate.
Know What You Want
Before you get into the process of investing, you need to know what exactly you want out of a property. Investing can cost a decent amount of money upfront, so it isn’t something to jump into lightly.
Start of by thinking over your goals. How much can you pay upfront and in repairs? Do you want to flip the property or rent it out? Do you want the property to be close to your home so you can easily check on it? By having these things figured out beforehand, you can save yourself time and stress during the search process.
Types of Properties
As you think over the process you’ll start to narrow down which type of property is right for you. While there’s a lot more to each property than we can break down here, here’s a quick rundown of the major investment options in the Phoenix area for you to choose from.
First, there are plenty of apartments, condos, townhomes, and stand-alone homes that make ideal rental properties. Of course, you’ll have to assume landlord duties and keep the property in repair, but you’ll also have a long-term source of income.
Two other investment options, flipping a house and buying a short sale home, have a little more common. Both homes will need major repairs, so the listing price is only the beginning. But if you have the funds to fix things up, then you can sell the home back for potentially double the listing price—giving you a major return right up front.
Ready to Get Started?
Phoenix is a constantly growing market, so investment properties here are full of potential for profit. If you have the extra income and are interested in making it happen, just let us know!