From building a nest egg for retirement to generating more income on a daily basis, there are many reasons people look toward real estate for a secure investment. If you’re looking to put your money into the property market, you have several options. Below I've outlined three types of property investing depending on your time and desire to be actively involved in the Dallas market.
1. Purchasing Rental Properties If you don’t have time to play the real estate game and want to make sure you’re making a solid investment with a long-term payoff, then purchasing rental properties might be your ticket. Look for homes that need little work. Check the comparable rentals in the area to make sure you can charge more than what your mortgage payments will be. You’ll need a cushion for maintenance and major repairs.
2. Flipping Homes If you’re the type who likes to be immersed in a project and get your hands dirty, then flipping homes might be the type of investment you should make. Make sure you possess the knowledge, skills and connections to purchase materials and do the renovations cheaply — or with your own two hands. Look for downtrodden homes in nice areas; once you increase the home’s value through renovations, then you’ll be able to sell it for a pretty penny.
3. Wholesaling Dallas Real Estate This option is desirable for investors who have little resources starting out, but have time to watch the market and like to strike a fast deal. Wholesaling is when you put a property under contract and then reassign or resell it to another investor. If your time runs out on the contract, then you have a written-in contingency that allows you to walk away. It’s important as a wholesaler to develop an extensive network of investors
Andrea Trimble, with Trimble Estates and Fine Homes, specializes in residential real estate home sales in the Dallas area. She was recognized by 32Best as one of the top 32 real estate agents in Dallas. Andrea is focused on providing her clients with the utmost service and client satisfaction. To contact Andrea for a real estate consultation, e-mail her at:[email protected] or visit her website: www.TrimbleEstates.comOffice: (817) 789-5591 Address: 3131 Turtle Creek Blvd Suite 1015, Dallas, TX 75219
Author:Andrea Trimble Phone: 817-789-5591 Dated: November 5th 2013 Views: 5,599 About Andrea: Andrea Trimble is a recognized real estate advisor in the Dallas/ Fort Worth Metroplex market. With ...
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