There are a lot of real estate markets today that have very slim returns and investors are betting on equity. These type of investments will take capital and time.
I talk to many investors that buy in income real estate in the Cleveland real estate market. I always ask about their areas they dwell in and the returns? The answers are to much money for homes and not enough net profit.
In the Cleveland metro areas that is not the case at all. You can still purchase homes and create very nice income. There are areas that generate both income and equity. Both of these profit centers need to be addressed on every asset you are purchasing.
Always look at the trends and the amount of homes for sale in an area at your price range. This will tell you a lot about the area. The more homes for sale usually means people moving out of that area. There are areas that investors cannot wait to get sold. These areas take a lot of money and time to sell, and the investors have to take losses in a lot of cases.
That is why we take are clients into areas that do not have those issues. We are starting 3 homes this week in a excellent area. There are only 2 rentals active right now, meaning this area is in high demand. Equity trends are also strong and moving upward.
The property management is also very important to your properties success after the tenant is placed. Lori my wife is a broker and she manages 60 properties. They had only 2 evictions this year, that means investors where getting checks. That is because their properties are in great areas and demand high quality tenants.
Building a sustainable income in todays real estate market is very possible. You just need the right team of professionals that can help you get you income real estate that generates great income.
Need real estate done? Need to sell your home? I'm Brett 216-703-5740 Icon Agent at EXP Realty
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Thank you