Real estate investing can be difficult, but there are 3 ways to make getting started much easier.
Rent Out Your Home
When deciding to move, instead of selling your home, you can choose to rent it out if you expect positive cash flow. The benefits of doing this include: creating an instant rental property, no mortgage underwriting, and knowledge of the property. The biggest caveat is that the sale of your home is usually needed for the down payment for your new home.
Purchase the Building
Any business owner can take advantage of purchasing a building for their business instead of paying rent. Usually, it is easier to do this than to purchase an unrelated rental property. As long as the numbers make sense, this can be a powerful wealth building strategy for all types of businesses, including medical and professional practices, restaurants and contractors. It is very possible that the value of the underlying real estate becomes much more valuable than the business over time.
Keep it Local
Unless you’re an experienced real estate investor, it is much easier to make a purchase in your local community. By doing so, you’ll have a better sense of the real estate market and avoid logistical issues.
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