7 Real Estate Investing Tips to Make 2019 Your Best Year Yet
Ready to rock 2019? Here are a few real estate investing tips that help you crush your goals.
Be Tax Savvy. The only certainties in life are death and taxes. And they even tax your estate, so it’s a double whammy. The good news is, though, that owning property does make you eligible for various tax deductions. Every dollar you save here helps you put another towards savings, improvements, or other investment opportunities.
You may be able to deduct mortgage interest, repairs, depreciation, professional services, insurance, travel, and more. Consult an experienced accountant or financial advisor so you get the tax deductions and breaks to which you are entitled.
Investigate emerging neighborhoods. These are neighborhoods that are positioned to “pop.” Get in early. You’ll notice trendy hotels, restaurants, a strong transportation system, and job opportunities aplenty. These areas represent a great opportunity for smart, forward-thinking investors; there is tremendous growth potential and, often, tax incentives.
Diversify. No, this is not an panacea against all of the potential ills of the investment world – but it’s a darn good idea. Most real estate investors take up camp in their own backyard, and that’s fine. There’s a sense of control and local knowledge that is useful. However, when you explore other markets, you can expand your opportunities exponentially. This also protect you from dips in your own region.
Find balance when rehabbing. A rehabbed property can be an advantageous investment – but find your budget and stick to it. If you have a middle of the road property, for example, you don’t need to go crazy with high end upgrades. It needs to be modern, attractive, and clean. Again, budget is your friend here!
Stay on top of maintenance issues. A small plumbing leak can become a big flooring issue which can become a big ceiling issue for the unit below… you get the idea. Maintenance is an ongoing job, and attacking problems when they’re emerging saves you money – not to mention time and aggravation – down the road.
Partnering with a reliable property management company can alleviate this worry. You do not have to be onsite, or even in the same state, to effectively maintain your property.
Connect. There is no reason to go it alone when it comes to real estate investing. There are various groups across the country that you can join to access knowledge and insight. There are also experts on whom you can lean when you need help, whether it’s figuring out market research or delving into the complex world of finance. You’re not an island: there are resources available to help.
Contact USREEB. Our team is ready to help you find the turnkey property that best meets your investment goals. We hope that these 7 Real Estate Investing Tips make 2019 your best year yet! Reach us at www.usreeb.com