I am ask a lot of property investors, how do you make a great income and get rich doing it. Being an investor myself since 1985 I have seen the ups and downs in the real estate markets. The key to making a million dollars or more in anything is recognizing the opportunity when it is in front of you.
For me I have always liked real estate and it has for the most part been very good for me and my finances. Doing the many 100's of homes that I have done myself and assisted investors with gives me knowledge in knowing the real estate market that most people do not know.
The key to making money with real estate is not just getting a good deal......but a nice property that will stand the test of time.
We purchased a property in early 2019 for a client that was a great deal at the time. They leased the property out at $1150 a month and collected around $850 a Month on that until. The tenants decided not to renew their lease. The comps I sent my client was up almost $30,000 from where they purchased the home. He is now planning to sell the property and buy another one.
That is why buying nice real estate in nice locations really is the way to create a better return and build your bank account. What do they say in real estate? Location, Location, Location very important words when buying or investing in real estate.
I personally went and looked at some real estate for a investor that was purchased in a marginal area. When I met the property manger who took me through the properties, he mentioned that he collects 50% of the rents for the properties monthly and the rest are not paid. YIKES!
The other huge issue was the value of the homes where not increasing and if the investor wanted to sell their properties the management was willing to buy them at a big discount. They could then resell them for a profit to the next investor and start the process all over again.
The key to buying investment real estate is getting a quality tenant and purchasing the property in a nice area that allows your equity to grow. It has worked for me and my investors and it can work for you also.
Call me I'm Brett Real Brokerage 216-703-5740 or Email me at By56083@gmail.com........
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Thank you