When you invest in St. Louis real estate at the right time, at the right price, it is proven to be a solid investment. With the housing market at an all-time low and it being a buyer’s market, there has never been a better time to purchase real estate than right now.
Owning investment property is and should be an interactive business. It is a hands-on investment that will require your time, energy, and money.
The following tips will help you avoid common commercial and residential real estate investment mistakes:
- Location, Location, Location
- Bigger is not always better
- Stick with deals that have a 15% return on investment
- Stick with homes priced in the low median price range
- Stick with a 3 bedroom, 2 bath, 2 car garage single family St. Louis real estate
- Keep your rental properties close to home
- Use other people’s money as much as possible
- Do not buy your 2nd investment property until your first is making you money
- Do not buy a home without inspections
- Don’t buy a property without title insurance
- Don’t rush in
- Don’t get invested emotionally
- Don’t rely on seller’s documentation
- Don’t handle it all yourself
A novice investor may struggle as they try to navigate through the complicated world of real estate investing and purchasing investment properties. Following these do’s and don’ts will keep your head straight and take the emotion out of buying St. Louis real estate for investment purposes.
Call me today at 619-609-4848 to take that first step towards purchasing your investment property.