When you’re making a decision to invest in real estate, you need to have a clear idea of what your investment objectives are. Obviously, there are different strategies to buying an investment property. You can work with multifamily homes, townhomes, condos, and single family dwellings. There’s a lot that goes into the decision.
Property Management Blog
Should I Invest in Real Estate? Salt Lake City Property Management Advice
Jason Wolf - Tuesday, September 19, 2017
Next, decide if you can afford maintenance and whether it will cash flow for you. Figure out if you’ll self-manage or hire a management company. Put together that forecast in a spreadsheet or on a napkin or whatever works for you. Really lay out the numbers for what this property is going to cost you. If it doesn’t cash flow all the time, that’s okay. You’re still paying down the balance. You can count on that. Look at amortization schedules so you know that your balance is coming down each year. This creates value, and it will never change. Count on holding it, paying down the mortgage, and taking care of it. This could make up a large portion of your retirement portfolio.
There’s a lot more that goes into real estate investment, and I’d like to tell you about the strategies that work. We are a full-service real estate company, so we can help you buy and find a home or advise you on investment property. Please contact us at Property Solutions of Utah to hear more about Salt Lake City property management and real estate investing.