Using Real Estate Investing To Reach Financial Freedom

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We all wish to reach our financial freedom before retiring from our formal jobs. It is the dream of every person to have a source of passive income to sustain his or her lives without having to work every day. However, it is not easy for many people to achieve the dream of reaching financial freedom before their retirement. This is because many people make wrong investment decisions or they live very expensive lives when young and do not invest at all. Well, if you want to reach your financial freedom before your retirement, you should consider investing in the real estate market. Real estate is one of the most reliable types of investments that can give you steady revenue without much struggle. The following are basic tips on how you can use real estate to reach your financial freedom.

1. Invest in Rental Properties to Collect Rent

This is a popular real estate investment strategy that you can use to reach your financial freedom. Here you need to acquire some rental properties in a strategic location and rent them out to get steady monthly revenue. You can buy already built rental properties or get some land and establish your rental properties. The good thing is that getting lenders to finance a real estate investment is very easy when compared to other types of investments. If you do not have enough money to build or buy a rental property, you can approach lenders within your area to finance your investment. Either way, you are sure that some money will be deposited in your account every end month without much struggle after renting your properties. Remember that you can hire professional property managers to take care of your properties if you have other commitments or if you want to avoid running after tenants every end of the month.

2. Buy- and- Hold

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This strategy is very effective if you are planning for your retirement and you have extra capital to invest. Have you ever asked yourself how you will survive after retirement with no monthly salary? This is an issue of concern for many people because you need a passive source of income to live a good life. If you are planning for your retirement, you can buy some real estate property and hold it to sell later when prices have appreciated. Many people prefer living and working in urban areas, hence the demand for homes and rental properties are always higher than the supply. It is a wise decision to buy and hold real estate property today so that you can sell it later and make a profit.

3. Use Private Capital to Invest in Real Estate

Any type of investment is a risky undertaking because a slight market change can result in huge losses. This has discouraged many people from borrowing capital because they are not sure whether they will be able to pay back their lenders. However, real estate is one of the most reliable investments where you can use borrowed capital to reach your financial freedom. When it comes to real estate investing, you aim for your investment appreciating in the long run so that it can pay back your lenders with ease. You can borrow some money, invest in rental properties and use the collected rent to pay back your lenders. Moreover, you can build homes and resell them to make a profit by using borrowed capital. All you need to do is look for a lender with low-interest rates, friendly lending terms and a great real estate market.

4. Become a Local Real Estate Market Expert

Many people believe that the only way to make money in real estate is by owning properties. However, this is not true because you can make a good amount of money and reach your financial freedom by becoming a local real estate expert. You can choose to begin as a realtor and help people to buy and sell real estate properties or a property manager and make good money managing investments entrusted to you. All that you need is to study your local real estate market and understand its trends. It becomes easier for you to acquire good properties in the since you developed an in-depth knowledge of your local market.

5. Invest in Flipping Homes

Flipping homes is another very profitable business in real estate that you can use to reach your financial freedom. If you have enough capital, you can buy properties in bad shape at low asking prices, renovate them and resell them at profit. However, you need to do intensive research before committing your money to make sure that the home that you intend to flip will earn you a good profit.

Upcoming Neighborhoods in Denver

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Property management is one of the profitable businesses that you can start and build massive wealth within a very short period. Many people, especially in developed countries such as the U.S. have realized how profitable this business is. The market is already flooded with individual property managers and property management firms. However, this does not mean there isn’t room for new aspiring entrants to venture into the business. All that you need is to get your resources ready and try your luck in the upcoming neighborhoods of Denver where it’s still unsaturated. New properties are constructed in these developing neighborhoods and you are likely to find clients looking for property managers to take care of their investments. If you are aspiring to start a property management firm in Denver, the following are the major developing neighborhoods that you should consider targeting.

1. Villa Park

This is one of the quickest growing neighborhoods in Denver where real estate is not yet overpriced. Villa Park is a block-to-block type of neighborhood and most of the houses have their own charms. It is worth noting that Villa Park is a multicultural area and many people from different parts of the country have bought or rented their homes. The area of Villa Park is actually similar to how Five Points was about a decade ago and its livability is improving year after year. The good thing with Villa Park is that it has some of the most affordable houses in Denver that have attracted many first-time real estate investors. Many investors are buying homes in Villa Park so that they can rent and generate some income. This makes Villa Park one of the areas that you should consider venturing into if you are a new property manager in Denver. The competition is relatively low and you can get real estate clients (both property owners and possible tenants) very easily.

2. Littleton

Littleton is one of the developing neighborhoods in Denver that have undergone a rapid transition in the recent years. However, it is not yet fully developed and houses are not very expensive. The average price for a home in Littleton Co, by 2015 was below $300000, making it one of the areas with the most affordable housing in Denver. It is worth noting that Littleton is a few minutes from an urban center and many Millennials are finding Littleton a suitable place to rent their first homes. There are adequate buses operating throughout the area and it is also suitable for those who love biking.

3. Chaffee Park

Other than being ranked among the safest neighborhoods in Denver, Chaffee Park is also popular for its housing affordability. In fact, the majority of the locals love Chaffee Park, and it is the outsiders who give the region bad reputation. Social amenities are readily available and means of transport to and from other parts of Denver is not a problem. Many first-time real estate investors in Denver are considering buying their properties in Chaffee Park. Rental investment is growing rapidly in Chaffee Park and if you’re an aspiring property manager or broker, this is a great place to make your mark.

4. East Colfax

Many people have associated Colfax with a bad reputation and nothing desirable. However, East Colfax has been undergoing a transition in the last five years. It’s real estate has been doing very well in recent years and the area is gradually catching up with the rest of the Denver. Many people have started to love the neighborhood and the number of real estate investors willing to buy properties there is on the rise. Basic social amenities are now available in East Colfax and the local government has invested a lot of money to provide good infrastructure in the region. Consequently, the number of possible tenants looking for homes to buy and rent in this neighborhood has increasing consistently. This makes the East Colfax area one of the promising neighborhoods for a property manager in Denver.

 

Why New Property Managers Should Target Developing Areas of Spokane

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The real estate management business in Spokane is highly competitive. Both property owners and tenants in the area have high expectations that property managers should meet. For instance, property owners in Spokane expect their properties to remain in good conditions and monthly rents to be deposited into their account by the agreed date. On the other hand, Spokane tenants expect the best services and total value for their money. It is worth noting that rental properties are quite expensive in Spokane and tenants expect nothing less but value for their money in return. Therefore, it can be very difficult for new property managers, especially those with limited resources, to satisfy the needs of both property owners and tenants. The following are key reasons why new property managers who want to make good money in Spokane should consider targeting developing areas instead of developed ones.

1. There is Less Competition in the Developing Areas of Spokane

The competitive landscape for property managers in Spokane is relatively low in developing areas vs. the already established ones. Quite simply, the developing areas are less saturated in every respect, but over time that is changing, if property managers are able to be a first mover in the region, they can really make a name for themselves. By doing so, they can quickly establish themselves as an expert in the area.

2. More Properties are Constructed in Developing Properties

The number of new rental properties constructed in the developing areas of Spokane is higher than in the developed neighborhoods. This means that there are more new property owners in the developing neighborhoods of Spokane looking for property managers to take care of their real estate investments. Subsequently, there are high chances of new property managers getting real estate clients in developing neighborhoods than in developed ones. If you try to comepete in already developed neighborhoods, the existing property managers like Guenther Management, Madison Property Management, Windermere property management, etc. will have the upper hand.

3. Many Young Professionals Buy or Rent in Developing Areas

The high prices to buy or rent the established areas of Spokane have made it difficult for young professionals to live there. The majority prefers the upcoming neighborhoods of Spokane where properties are still fairly affordable and readily available. New brokers or property managers in Spokane Valley  can benefit from the developing estate market in developing by targeting these young up and coming professionals.

4. Where are the Investors of Spokane’s Developing Areas?

It is worth noting that the majority of the real estate investors aren’t living in those areas. The majority of the people buying rental properties in the upcoming areas of Spokane live in the already developed areas or outside the city. It is, therefore, necessary for real estate investors buying properties in developing areas of Spokane to hire property managers to look after their investments because they do not live in the neighborhood. Subsequently, this creates more business for new property managers in the region.

5. Property Managers Do Not Have to Invest Extensively in Marketing

Quite simply, there is more opportunity in these developing areas. The number of new properties constructed and possible tenants looking for houses to rent is on the rise. This makes it is easy for new property managers to find clients (property owners and possible tenants) without having to do extensive marketing. This makes developing areas of Spokane the most suitable starting point for new property managers who may lack adequate resources to invest in extensive marketing. If you are a new entrant, it is wise to start your career in the developing neighborhoods and expand to in-town properties afterward when you have more skills and have established a name for yourself.

6. Property Management Requirements in Developing Areas are Minimal

Property management requirements in the developed areas of Spokane are very stringent because tenants and property owners have very high expectations to be met. This makes it difficult for new property managers who lack adequate resources to invest in their property management business to satisfy the needs of their clients. However, property management requirements are minimal in the developing areas of Spokane because expectations in the area are still not established. It is wise for new property managers venturing into Spokane to consider targeting upcoming neighborhoods, which have minimal requirements so that they can grow their careers in tandem with the developing regions.

Upcoming Neighborhoods in Atlanta

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Property management Atlanta is a very profitable business if you have what it takes to beat the existing competition. You need to be very smart and hardworking for you to make good money as a property manager in Atlanta, especially in the central business areas and other developed neighborhoods. However, if you are an aspiring property manager planning to venture into Atlanta, you can still make good money by targeting the upcoming neighborhoods where competition is not very high. Remember that other property management firms have already taken most of the in-town and it may be difficult for a new property manager to get real estate clients in developed neighborhoods. After all, there are no new properties being constructed in the already developed areas. According to Rent Appeal new properties are being constructed in the suburbs of Atlanta and getting real estate investors to entrust you with their property is a bit easier. The following are some of the upcoming neighborhoods in Atlanta that new property managers can exploit to grow their portfolio.

1. Pittsburgh

Pittsburgh is one of the fastest developing Atlanta neighborhoods where those aspiring to venture into property management should direct their efforts. Most of the real estate investors in the area are looking eastwards towards Pittsburgh and other areas neighboring Adair Park. Pittsburgh is accessible from the Metropolitan Avenue and it is within a walking distance to various MARTA stations. Although the areas bordering Pittsburgh have experienced a rapid revival in the recent past, Pittsburgh is yet to be fully developed and many real estate investors are attracted to affordable properties in the region. It is also worth noting that Pittsburgh is located close to other upcoming Atlanta neighborhoods such as Grant Park, Adair Park, and West End. Recent studies show that although Pittsburgh had some security issues in the past, the area is growing very rapidly and can be a good place for real estate related businesses.

2. West End

West End is a historic area located south of Atlanta. West End is one of the most popular areas in Atlanta and a home to some of the well-known individuals in the region, such as author Joel Chandler Harris and others. West End real estate declined in the 1970s, but the market is now catching up with the rest of Atlanta. It has attracted many renters due to the availability of affordable houses and more real estate investors are now willing to acquire property there. The city of Atlanta has spent a lot of money to revive West End and the real estate market is now on the right track. There is no doubt that West End is among the areas that new property managers in Atlanta should target. There are a lot of potentials to pick up quality properties here due to lower competition and constant development.

3. Adair Park

Adair Park is located in the southwest of Atlanta and borders West End in the east. This is one of the most charming developing areas in Atlanta occupied with mostly single-family bungalows. Adair Park real estate declined in the 1950s and 1960s, but it is now experiencing rapid revival and the real estate market is gradually catching up with the rest of Atlanta. Some of the key factors that have contributed to the recent growth of real estate in Adair Park include its position as a Beltline community and its low cost of living. Adair Park started to grow after the opening of the Eastside Beltline Trail that made it easy to access popular places such as Inman Park, Cabbagetown, and Midtown among others.

4. Capitol View Manor

Capitol View Manor is a developing neighborhood in Atlanta; most of the homes in this area were built between the early 1920s and mid-1940s. The majority of the properties in Capital View Manor are bungalows, Victorian homes, and colonials. Real estate property in Capitol View Manor is relatively affordable and many investors are buying properties there. The majority of the people buying properties in the Capitol View Manor area are real estate investors buying homes to rent out. The cost of living is affordable and many families prefer to rent homes there instead of in-town apartments. It is worth noting that although there are very few new houses being constructed in Capital View Manor, rented properties are on the rise, making the region a good starting point for new property managers in Atlanta.

Hopefully these 4 areas help you in your search for finding properties to manage. If you have any questions don’t be shy to ask me in the contact section!