When you invest money in real estate, you will earn profit as any other types of investment. The more properties you have, the more money you earn if you manage them properly. This article will give you tips on maximizing investment in real estate.
- Properties for rent/lease/ rental properties- Involve with rental properties such as house & lot, residential condominium, office and commercial space. The monthly income you will receive is called rental profit. You just need to choose a good and nice location and make it long term residential or commercial rentals.
- Buy a great deal property/ below market- When buying properties choose and find a great investment like foreclosures, rush sales or pre-selling units. Buying similar types of properties gives you additional advantage through property price increases over time, not to mention the “unearned” profit by buying properties below market value.
- Buy and Sell- You can make more income when you buy great deal property, something that is barren/rotten, build something useful such as a house or renovating a dilapidated unit and then selling it at a premium for the embellishments/improvements made.
- Expand Properties, Expand Income- Buying raw land, you can build residential property with commercial space. You will be able to expand your units by building up more floors like 15th, 20th, or 30th The upper and higher floors are the residential and the lower floors are the commercial space. Or you can build house and lot for lease like duplex style. The more expansion of your properties, the more extra income you will receive monthly.
JUST ONE QUICK REMINDER!
Always make a lease contract for your rentals
- Making Lease Contract- Contract of lease will help you detect the unit is about to expire. When you know that tenant will not renew the lease contract, you can market your unit as early as before the contract expires so you can minimize opportunity losses and keep track of all tenants.
Please feel free to contact us for more tips and advises.
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