In terms of investment options, real estate should rank among your top considerations! With traditional investments yielding uncertain or very low returns, real estate investing is growing ever more competitive and mainstream. Here are some simple guidelines I use when representing new real estate investors:
Keep your first investment small and easy to manage, such as a studio apartment or 1- 2 bedroom condominium. 2. Focus on location - your property investments should be near your home, as you know the area better and can readily be available to manage problems. 3. My golden rule of real estate investing is to buy only property you would consider living in yourself. Many hopeful investors think only in terms of return on investment and set unrealistic goals, such as 6 - 7%, but quality spaces in good locations will always fill faster, rent higher and have lower vacancy rates. Finally, select a well-established realtor experienced in property investing (like me!) to represent you. Call me! I'm happy to get you started.