In my 10 years as a real estate broker, I've worked with plenty of people who have decided to invest in property to grow their financial assets. It can be scary to take that initial leap into real estate investing, but the rewards can be significant. Here are some tips to consider:
- Be clear about your goals: Different investors have different goals. While one person might want to make as much profit as possible in a relatively short time period, another might be looking for a vacation property that they can keep in the family for years while it appreciates in value. Be clear about what your agenda is, because that will influence how and where you put your resources.
- Be realistic: Make sure that you have realistic expectations when it comes to how quickly you're hoping to make a profit. HGTV host and real estate investor Scott McGillivray offers these words of caution: "Of course it's feasible but you can't create an income suite in 30 minutes […] If you think that, you're in for a bit of a surprise."
- Location, location, location: There are many areas within a short drive of Sacramento that have enormous potential for investors. If you want to own a home that you can rent to vacationers, consider exploring homes near Lake Tahoe in El Dorado County. Those looking to flip homes or lease them to tenants year-round can find great properties in Placer and Sacramento Counties. With $100 million in completed transactions in the greater Sacramento area, I can help you narrow your search to the county, city and neighborhood that's right for you.
Contact me, top real estate agent Jon Hesse, to get your real estate investment planning started today!