March 13, 2009

Should you purchase investment property?

Posted to Janet Giovannetti

It’s a breath of fresh air to hear something positive about the current real estate market. Today Show real estate contributor Barbara Corcoran suggests that now is a good time to purchase investment real estate for both short- and long-term gains. She sites low prices, low interest rates and a larger renter pool as indicators in favor of purchasing investment property now.

Many of her suggestions apply to most purchases:

  1. Know your neighborhood
  2. Know your financial limits
  3. Do your homework

But rental properties bring their own set of circumstances. Ms. Corcoran advises starting small and perhaps working with a partner for your first venture. For example, a partner with purchasing power should team up with a contractor to manage the property. The ability to find the right tenants is crucial to the success of the investment, and factoring in vacancy, maintenance, management and other miscellaneous costs is the only way to decide if a particular investment property is right for you.

For more details, including tips for screening tenants and leveraging your cash, see Ms. Corcoran’s video here.

For information about residential, vacation, or investment property in the Geneva Lake area, contact me at 262/949-7911 or at jangio@keeferealestate.com. Let me help you achieve your dreams!

Posted By: Janet Giovannetti

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