Success via real estate investments doesn't happen by accident. Some investors can find success with one or two investment properties and a DIY approach. However, serious rental property owners who want to build an extensive D.C.-area portfolio and significant long-term income won't get very far without a solid strategy for success.
What are the best real estate investment strategies? Here's what the experts at EJF real estate want you to know.
These days, most people research a product or service online—thoroughly—before making a purchase. Reading reviews (especially the three-star reviews), checking a company's website, and asking for personal experiences help consumers choose high-quality products and services before spending hard-earned money.
When it's time to find a professional to purchase or sell a rental property, you probably wouldn't call the number on a handwritten sign in the ground at an intersection that advertises 'We pay cash for homes!' You want a successful real estate agent who can get you the best price for any transaction.
When choosing professional property management services to get the most out of your D.C. rowhomes for rent, you want a respected company with a track record of success. With enough research, investors can find the best companies and avoid property managers who don't deliver.
There are plenty of ways to finance properties when adding to your portfolio. A Real Estate Investment Group (REIG) can be a smart way to purchase properties without being the sole financier.
The right investor group can help you grow until you build enough cash reserves to finance properties independently.
The renovation process often adds the highest upfront costs when developing a new rental property. If you're low on additional funds or short on time, turnkey properties can be the right answer to your next rental property purchase.
Turnkey investments are an excellent way to speed up your portfolio growth. When choosing one of these properties:
If you're not sure that a turnkey property is a good purchase, consult the best property management D.C. offers. We can review the numbers and analyze the renovations to make sure you're getting a high-quality rental home that will add more income to your portfolio.
Your best strategy for success is to hire a professional, full-service property management company to handle every aspect of a growing portfolio. You can always depend on the right property manager to help you find properties that fit your portfolio and goals.
When you invest in D.C. rowhomes for rent, don't settle for risky strategies that could leave you with lost income. While real estate does involve some risk, successful growth requires stability, sound strategies, and high-quality property management. You can learn more about the benefits of such a partnership when you download our complimentary Real Estate Investing Guide.