Rajinder Dhutti, a leading realtor in the Fraser Valley offers 5 valuable tips for anyone who is looking to make a profit by dipping themselves into the market of real estate and investing within it. In today’s world, investing has grown beyond traditional assets. While stocks, bonds and mutual funds are still ordinary portfolio inclusions, many real estate investment opportunities can yield excellent results in the long run. These opportunities can prove to be lucrative ways to make money and can even help you save for your retirement. It requires dedication, research, and planning. If you are a beginner at investing then these 5 tips by Rajinder Dhutti, will surely prove to be beneficial to you!
1 Understand the costs involved:
Real estate investing is not as simple as purchasing a property and watching it make money. There are other costs to keep in mind. Some of them include- maintenance costs, upgrades, yearly upkeep, expenditure on utilities and taxes. Be sure to consult your Realtor in Surrey to make sure you factor in all the costs before jumping in.
2 Filter the property type carefully:
There are a couple of options to choose from when you are deciding what type of property to choose from. You can buy rentals that are either residential or commercial, you can buy a home or an apartment and become a landlord. You can also use your property as a vacation rental. You can safely opt for commercial options if you are not interested in keeping a residential property. Another way of leveraging the power of Real Estate Investing is to purchase a property and flip it for higher returns. Consult the best Real Estate Agent in Fraser Valley to explore your options before making a decision to achieve your goals.
3 Location is important:
When it comes to real estate investing, location becomes an important factor to consider. Perform your due diligence by checking the market value, the neighbourhood, what the location offers and if necessary, consult the best Realtors in Fraser Valley to predict the future of the real estate sector in that area.
4 Decide your terms:
After you have decided the property type and the location, it is time to come up with terms regarding the investment. Calculate the tax, rent, fees involved, yearly maintenance costs and emergency funds ahead of time. Are you going to pay for the utilities and the furniture on the property? It is always a good idea to get help from a professional like Rajinder Dhutti who can help you get a clear idea of the fees, tax involved to maintain the quality of the investment.
5 By property with growth in mind:
When you invest in properties, you may eventually want to sell them. You’ll want to make a profit whether you intend to flip it immediately or hold on to it for a while. Build your investment value by making upgrades or additions to it. When your investment property value increases, you can earn profits by selling it for more. Make your hard work pay off in a big way.