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How to Invest In any Real estate Property, The Smart Way

The first step to investing in any property is deciding the kind of property you want to buy. The type of property you are looking for might be dependent on a number of factors including:

  • Whether you want to rent it out or live in it yourself.
  • Your budget range.
  • Whether you are buying it as an investment property or as your first home.
  • The type of lifestyle you want to live.

Once you have decided on these criteria, the next step is to find an agent specialise in selling that type of property. For example, if you’re looking for apartments for sale, then look for a real estate company that specialises in selling apartments/flats and has experience dealing with first-time buyers.

Consider the location

You should choose where to buy your property based on location. The right location will maximise the rental price, reduce vacancy times, and increase the value of the property. Location is a factor that you can’t change, so it’s best to invest in the right location from the start.

The type of property that you are investing in is also important. Is it an apartment? A duplex? A house? Each has its advantages and disadvantages and each one is not suitable for every investor. Your location and type of property work together to determine how much money you will make from your investment.

Never spend money on the property unless it’s proving a sound investment.

Many beginners will spend too much money on their first property. Investing in a property that isn’t generating you enough income is one of the biggest mistakes to make as a new investor and can also open you up to lawsuits if you aren’t careful. Make sure that your property is profitable before investing, and always be mindful of how much cash flow you are making with each investment.

Example: You invest in a duplex worth $200,000 and pay $20,000 for it down. Your monthly income from the rent is $1,200 and your mortgage payment is $1,000 per month. In this case, you are making a profit of $200 every month (or about 10% on your original investment).

SLO MILLENNIALS TO TAKE THE BUYING PLUNGE

San Luis Obispo rent is steadily increasing at the highest rates in the state. Central Coast Millennials may soon follow the national trend and take the plunge into home ownership. The National Association of REALTORS® recently reported Millennials hold the highest share of home buying activity out of all other generations for the fifth consecutive year.

Rents in San Luis Obispo have increased an alarming 39.42%. An increase from September 2017 to an average of $1512 for a 1-bedroom and up to $2600-$2800 for 2 to 3-bedrooms, according to Rent Jungle. The tight rental market has forced Millennials into considering home-ownership as an alternative. They are discovering they are getting more bang for their buck.

MORE BANG FOR THE BUCK

A recent rent.com survey indicates that 51 percent of millennials are spending more than 40 percent of their annual income on rent. The factor most important to them is affordability.

But here’s what most Millennials don’t know. Instead of paying $2,500 a month in rent to a landlord, they can purchase a $435,000 home with only 5% down conventional financing, and also have no monthly mortgage insurance “PMI”, for the same total monthly payment.

With very limited supply of rentals and increasing costs, successful realtors are doing well to educate these potential first-time home buyers on the comparative cost of renting and buying.

Other important factors at the top of the millennial renters wish list are size and amenities so Realtors are focusing on the facts that they can get something bigger, with more amenities, if they buy.

FIRST-TIME HOME BUYERS

Because of their age, most millennials qualify as first-timers and usually have less funds for a down payment and might also have student debts, poor credit, or financial worries that make it hard to finance a purchase. Realtors at Century 21 Home can guide potential buyers by knowing the best programs out there to deal with their unique financial situations.

MOST LIKELY GENERATION TO USE REALTORS

Millennials are the most likely generation to use a real estate agent. 90% of Millennials are purchasing through an agent. Among the trends Realtors are seeing in the younger home-buying generation, they are more likely to live closer to friends and family, rather than in select areas of the city or certain schools. They are also buying condos in the city at a very low rate. Millennials answered that the top benefit their agent provided was understanding the buying process.

About CENTURY 21 Hometown Realty – Hometown Realty is the leading real estate firm on the central coast of California with offices spanning Santa Barbara County and San Luis Obispo county offering expert agents and convenient locations.

REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics. C21 Hometown Realty is proud to have all their agents as members of REALTOR.

TRUE AMERICANA MEANS BIG BUSINESS FOR CENTRAL COAST

It’s Mid-State Fair time here on the Central Coast! A timeless tradition of true Americana, celebrating our heritage of agriculture, arts, crafts, competitions and show-stopping entertainment. Bright lights, carnival rides, fair food, exhibits and top-name entertainers were just some of the reasons that a record-breaking 430,000 guests made the trek to Paso Robles in 2017.

If the entertainment line-up is a top indicator for guest attendance, 2018 will be on track to deliver large Fair audiences once again. The free concert stage is hosting well-known artists such as Crystal Gayle, Monte Mills, Kris Kristofferson, Bear Market Riot, Big Bad Voodoo Daddy and newer artists For King & Country and recent winner of The Voice, Cassadee Pope. The main stage will light up each night with stars such as Florida Georgia Line, Pitbull, Demi Lovato, Gabriel Iglesias, ZZ Top, Tim McGraw with Faith Hill and Luke Bryan.

In addition to the draw of America’s top entertainers, Mid-State Fair offers great family entertainment with Livestock Competitions, Horse Shows, Petting Zoo, Country Finals Rodeo, Robotics for Kids, Tractor Races, Youth Performances and a newly revamped Carnival. The Mid-State Fair offers great entertainment value for the low admission price of $8-$12. If you will be attending multiple days, the Season Pass is the way to go, just $30 for children 6-12 and $60 for Adults offering admission everyday to the fairgrounds.

Not only do Central Coast residents flock to this event but it attracts huge crowds from all around the state. That means big dollars and big business for the area, especially Paso Robles. Hotels, motels and restaurants feel the biggest impact but even retail stores benefit from the tens of millions of dollars the Mid-State Fair brings to the community each year.

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