For those investors who are considering real estate investment properties, there are certain factors to consider when choosing the properties. From location, which is likely to be the most important factor, to whether you are going to choose residential or commercial investments, the size, who you are going to lease or rent out the properties to, and so forth. Keeping all factors in mind, and learning what is required to properly manage your investment properties, is something all owners must consider, prior to purchasing the investment properties, if they are hoping to earn the highest returns on these investments they are leasing and renting out to willing renters.
Location of your investment property -
Whether it is a residential property, or whether it is commercial, the main thing to consider is: “location, location, location.” If you are choosing a residential property, on an island getaway, those who are going to be renting from you will be looking for ocean side views, and the scenery. If, on the other hand, you are looking for a commercial property in the bigger cities, those who will be renting or leasing your real estate investment properties are likely going to look for the top floor in a Downtown building, so that they can attract customers. Therefore, knowing your audience, and knowing exactly what they are looking for when you are leasing the space out to them, is of utmost importance for you to be able to rent the property out quickly and easily, and charge the highest prices to those who are looking to lease the property. Whether you do weekly rentals for vacationers, or a month to month (or yearly) contract for a commercial property, location is key to getting them in the door, and keeping them as a happy client.
Size of the investment property -
From a luxury home which you purchase, and then lease out to guests who are vacationing, or to a smaller office space for a single business owner, who is looking for the cheapest monthly rent, considering the size of the space, what the uses will be, and how much space is needed in order to get that property leased, is another factor to consider in the mix. By knowing where you are purchasing the investment property, how much the going market value is for commercial and residential properties there, and how much you are going to be able to charge for a particular space, are all things to keep in mind as you are choosing the real estate investment to invest in. The larger the property, and the more use it can be put to, the more likely it is that you will get it leased and rented out. On the other hand, if you are a commercial investor, working with a smaller company, looking for a smaller office space, catering to this side of your interested renters should also be done as an investor, in order to ensure you are making the most, while spending the least to attain the properties you purchase.
Considering resale value on investments -
No matter what you are buying, residential or commercial, as an investor you have to consider what you are paying up front, what improvements you will make (and whether it is worth the cost you are spending on those improvements), and what the resale value is going to be down the road, when you are ready to sell the current property, and purchase something new in order to target a new renter. So, considering the time value of money, and considering the market conditions, plus any additions or improvements you plan on making to the home or commercial property you are buying, are all factors that will go in to determining the resale value of the property. As an investor, you are looking to make money; so, if you do purchase an investment property, you are looking to sell it some time down the road, and earn a profit on it. Therefore, keeping the resale value, the current market conditions, and the market conditions down the road, when you plan on selling the property, are all factors that are going to assist you in making the decision on what to buy, when to sell, and when to keep a particular property as an investment property.
Personal use -
If you plan on purchasing an real estate investment property, and making personal use of it (whether it is using it as an office, or living or vacationing there), this cost also has to be considered in the mix. You can use the property when you are in a particular vacation destination, and lease it out the rest of the year, or you can use it as an office space when needed if it is commercial. So, considering the possibility of leasing and renting the property out, as well as using it for personal reasons, is part of the investment decision one has to make when choosing to invest in real estate, whether it is commercial or whether it is a residential property. Keeping the lost rent in mind, as well as how much you are going to save by using your own property (if it is a large commercial building), should also be part of the decision making process as you are determining and considering which properties to buy in to, and which investments are most in line with what you are looking to buy as an investor.
Keeping each of these factors in mind as you are considering investment properties, will help an investor choose the best properties, the best investments, and those options which are likely to bring them in the highest revenues (while renting and leasing the space), and the highest resale value down the line if they ever plan on improving on the property, and selling it off some time down the road. So, when deciding on the best real estate investment properties and options, each of these factors should be considered to ensure the best properties are purchased.
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