Here’s some helpful advice if you’re thinking about becoming an investor.
Are you thinking about becoming a real estate investor? The key mistake that a majority of investors make is only looking at the current cap rate. The cap rate is a cap amortization of the property. It’s a number that determines the profitability of a property.
However, it’s not the only cap rate you should be looking at; there is so much more involved when looking for an investment property. These days, the eviction moratorium is over, and many landlords are going to start getting rid of tenants and selling properties. This could lead to great opportunities for the right investor. I recommend looking at the projected cap rate of a home you’re interested in instead.
“There is so much more involved when looking for an investment property.”
Go to rentometer.com to check the current rental market value of the property you’re thinking about purchasing. If there are tenants currently in the property, you may want to consider a “cash for keys” offer to get them to vacate. You can pay them to get out of the property so you can buy it and find new tenants. Then you’re well on your way to becoming a profitable real estate investor.
If you have questions about this topic or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon. Ciao!
