3 more tips for new real estate investors

Investing in real estate can be lucrative and fun!

I recently shared some tips for folks thinking about investing in real estate, from being clear about your goals to considering your location. Of course, in my 10 years conducting millions of dollars in real estate transactions, I've learned that there's much more to bear in mind if you're getting ready to add properties to your investment portfolio. Here are a few more pointers to ponder:

  • Decorate conservatively: When making decorating and design decisions, try to appeal to as wide an audience as possible. You don't want to waste money on a luxury wallpaper that you love but potential tenants or buyers might hate.
  • Do the math: One of the best parts of real estate investing is that it's really fun! There's something incredibly rewarding about buying and updating a property so that you can rent it out, use it as a vacation home or resell it for a profit. However, it's important to remember that this is ultimately a business decision, so think with your head rather than your heart and keep a close eye on the bottom line. 
  • Have a plan: To help yourself make wise financial decisions, Yahoo News even recommends drafting a formal business plan in which you lay out the details of your investment, including start-up costs, timelines and profit goals. This is especially important if you are making an investment with a friend or family member. A detailed, written plan can help ensure that everyone is on the same page.

Are you interested in looking at investment properties in the greater Sacramento area? Contact me, top real estate agent Jon Hesse! I can show you wonderful opportunities in Placer, El Dorado and Sacramento Counties.