If your New Year’s resolution is to “make more money,” you’re in the right place. A great way to make money is investing in real estate, but it can be a daunting project for beginners. How exactly do you invest in real estate? How do you get started? Can someone help me?
We’re breaking down everything you need to know to get started!
What is Real Estate Investment?
In simple terms, real estate investment is simply purchasing land or property for the purpose of earning money. While there are many ways to do this, the most common include rental properties (where essentially your tenant pays your mortgage), house flipping for a profit, and homeownership itself. When you own your own home, you’re technically investing in real estate, but the difference is that you won’t actively make money to increase your cash flow. However, purchasing a home is ultimately one of the best long-term investments you can ever make because when you eliminate the instability of renting a home it allows you to find room in your budget to save for other kinds of investments that will provide you with that additional regular cash flow.
Why Should I Invest in Real Estate?
According to Forbes, in 2018 Orlando ranked as the #1 best city to invest in real estate, largely due to tourism, job growth, and population growth. The home of world-renowned theme parks and attractions, this makes Orlando the perfect location for investments like rental properties is or house flipping.
Additionally, when you own an investment property there are a variety of tax-deductible expenses included that any good accountant can help you utilize to reduce your tax bills while still increasing cash flow. This will, in turn, help you pay off your investments more quickly and have more cash to continue to invest and grow your wealth.
How Do I Get Started?
One of the most important elements of any real estate transaction is working with an agent you can trust. The right agent has full knowledge of the market, dedication to doing what’s best for you, and the experience with real estate investment to help you make the right decisions. If you want to start your journey into real estate investment in 2019, call the Pinnacle Homes Group to speak with one of our highly experienced agents and get started on the right foot. We’ve sold over 1,400 Central Florida homes in 10 years, which makes our team the best resource for anyone looking to learn more or jump right in to their real estate investment journey!