- Is owning an investment property in Spring, Texas profitable?
- Radium hot springs is located in beautiful southern coastal B.C. and offers some of the most spectacular views available anywhere along BC's coast.. If owning a property overlooking the water isn't enough reward for a day of work this place is great because it sits smack next door to Canada's premiere ski resort, Big White Ski Resort...and if all else fails just rent a cabin for $150-$200 per night and sit back and read a book while listening to the waves crash against the beaches nearby. For those who love fishing this city hosts several world class sport fish lakes including Kootenay Lake which holds record lake trout weighing an impressive 55 pounds!!
If buying real estate isn't your thing then renting would be the way to go. There are many rentals available ranging from apartments to houses all under 3 blocks from each other making finding something affordable a breeze. Prices vary greatly depending upon location and size but expect prices from $250k upwards.
So lets get started.. First step is figuring out exactly why you live in radium hot springs and why you feel like investing in property....then you'll begin figuring out exactly which area(s) you'd like to invest in first and finally figure out where in town you'd prefer to find said ideal investment property. As always I advise keeping all these factors in mind prior to doing anything as they will help tremendously in determining whether or not your current financial situation could support such investments. So lets talk numbers.
For example say your annual income is approx 25k (conservative estimate). Lets assume this amount covers everything necessary for living comfortably, eating healthy food every week and saving 10% of your earnings to put aside annually for retirement/other savings. Assuming you live frugally, save diligently and retire early this should allow roughly 1 million dollars to live on during your golden years.
Now imagine yourself sitting down and deciding that you've saved up $1mm, wishful thinking for sure...but nonetheless lets pretend for a moment this scenario comes true. After spending months/years researching different areas of development and talking to various professionals like lawyers, accountants, appraisers/engineers, lenders, mortgage brokers, contractors ect. you arrive at a total cost around 150x your monthly take home pay. At this point you're feeling pretty good. Your head was spinning with possibilities, ideas came flowing fast & furious and suddenly your brain got so full that words no longer make sense. All you see are colors flashing through your head you see a picture of a house your heart leaps and you jump up shouting "I'm going to buy that house!". And yet after all this excitement you realize that you are still only 1mm away from being able to afford the purchase. Oh my gosh!!! But wait there's more.....let me ask you another question. Couldn't you simply divide one million by twelve and end up paying less than half this price tag? Yeah right but thats' silly you cant split things by 12. Think about the math here for a sec...One Million divided by 12 gives us 83K a piece or 8300000 divided by 2 = 416750....theres nothing funny about this, thats a whole helluva lot more expensive than half a million...
- New Home Spring Buying 101
- If you’re planning to purchase or sell property this summer, then you should take note of some upcoming changes to B.C.'s Real Estate Act. These laws will impact buyers, sellers and real estate agents alike. Here's everything you'll need to know about them.
1) Changes to Buyer Protections
In July 2019, Bill C-74 was passed which amended Section 17(2)(a) of the Residential Tenancies Act, 2006 to allow landlords in BC to terminate leases without cause, effective April 1st 2020. If your landlord decides to end the tenancy, they must provide written notice no less than 30 days prior to the termination date. They cannot raise rents during the remaining term of the lease nor can they evict tenants until the end of their contract. Landlords who fail to adhere to these requirements face fines of $5,000 per occurrence.
While landlords will be able to increase rent after giving proper notice, they still have the ability to cancel the tenancy agreement early. In fact, under section 18 of RTA '06, tenants can only renew once, unless they're given permission to stay longer through mutual consent.
This amendment does not apply to short sales or purchases. However, if it did, it still states that "no person shall enter the dwelling unit except with the express authority of either" owner, agent, mortgagee, receiver, sheriff or other officer appointed under law. So while you won't technically be able to break down your own door, landlords can legally refuse entry to anyone else but you and those you've authorized. And as an added precautionary measure, landlords may ask potential renters whether they intend to stay past the expiration of the initial rental period, and they may decline applicants who answer negatively.
For example, a prospective tenant would say something like “I'm moving out next week because I found another place closer to work." A landlord could then reject him/her outright. If they accept, he or she can then request additional information and may even demand a reference letter.
So what happens if you find yourself locked out of your apartment? According to Section 19 of the RTA, the owner or manager must notify the police department and wait 72 hours before doing anything further. After that, they can file charges against any person attempting forcible entry or unauthorized occupancy. The penalty for breaking and entering is five years imprisonment and /or a fine of between $100-$500, depending on the amount of damage caused. If you don't pay, you risk being jailed indefinitely.
2) Changes to Seller Protection
Seller protection is a little different, as under Section 14(4) of the Real Property Services Agency Act (RPSAA), a seller may terminate the sale agreement if the buyer fails to deliver possession on or before May 31st 2021.
However, the law requires the purchaser to refund all payments made by the vendor up to that point. As well, if the buyer defaults and refuses to vacate the premises, the realtor must report the breach to the Ministry within 10 business days after discovery, along with evidence supporting his claim.
3) Changes to Agents & Fees
Under the revised rules, realtors will now be...
- When buying a new home in Texas follow these steps
- In 2018, Canada saw over $7 trillion CAD invested in residential real estate markets across the country. According to statistics released by Realtor®, Canadians spent approximately $639 billion CAD on non-residential property investments including rental properties and commercial buildings. While this figure does not include a full picture of foreign direct investment, experts say Canadian investors continue to pour billions into overseas residential developments. As Canadians’ need for housing continues to increase, many cities like Radium Hot Springs are continuing to see demand for both condos and single family homes rise dramatically. According to the most recent information available, more than 9% of Vancouver residents live outside the city limits but still pay municipal taxes. Similarly, in Toronto, close to 25% of those residing in the region’s suburbs reside outside their municipality’s boundaries. So why would someone living near Toronto or Vancouver decide they wanted to move to Radium Hot Springs instead? For some people, moving to another location provides better work opportunities while offering families the convenience of home ownership and amenities like parks, schools, shopping and transit services often found only minutes away from their current residence. For others, purchasing a new home affords them the ability to own land with high value potential and a place to raise children without worrying about having rent payments every quarter or paying thousands each month in mortgage fees.
If you’d like to purchase a new house or condominium in Radium Hot Springs, BC, then you should consider doing everything possible beforehand to ensure that your transaction goes smoothly. Here are four tips to keep in mind as you search for a home or condo in Radium Hot Spring’s hot spring communities:
1.) Start early: If you’re thinking about buying a house soon, then you will want to begin your search well ahead of time. By starting your hunt earlier rather than waiting until after Christmas and during peak season, buyers are able to get multiple offers, meaning you could potentially secure yourself a great deal. Plus, if you wait too long you risk running straight against other homeowners who started searching around the same time as you did; so getting in front of the competition will be easier. 2.) Consider the neighbourhood: When looking for your dream home, you shouldn’t limit your search just to Radium Hot Springs proper. Many areas of Radium offer beautiful scenery and unique local culture which you might feel drawn to explore. However, if what appeals to you most is being part of a small community, then you must remember that proximity matters—the closer you live to school zones, the bus stops and shops, the faster you’ll travel to these places. 3.) Don’t forget about upgrades: When you buy a new house, you always want to take advantage of the updates that come along with owning such a valuable piece of real estate. Upgrading kitchen appliances, flooring, painting walls and adding extra square footage to expand the space inside your home can go a long way towards making it feel more spacious. 4.) Be mindful of taxes & maintenance costs: One thing you won’t want to overlook when considering investing in a home is whether or not the taxes associated with that particular area would exceed your monthly mortgage payment...
- How to find Your New Spring Home or Condo
- In this edition I'll be sharing information on the hottest real estate markets in Canada including Vancouver Island, Greater Victoria Area and Calgary, Alberta. These markets will help you decide which area would work best for you and your family. If you're interested in investing in any of these hot markets then read on because this guide covers everything you'd ever want to know about buying property in each market.
[IMAGES: Images of different areas, prices etc.]
[IMAGE: Image of Vancouver Island]
Vancouver island offers some great opportunities if you are willing to pay top dollar for land. There are plenty of properties available to buy for under $500k and many for well north of 1million dollars. Prices range anywhere from around 100k to upwards of 4 million depending on location.
If you're thinking of moving to Vancouver Island you should definitely check out the latest statistics to see whether or not you can afford to live out there or not. Check out my stats section below for more info.
There are several things you must consider first before deciding whether or not to purchase a house out there. Things like;
Is owning a home worth paying the mortgage every month?
What type of community will suit me best?
Will I be able to save enough money to retire comfortably on my own property?
How big does my current home need to be to accommodate an expanding family?
Are there schools close to my home?
Do other families I am friends with already live there?
Is the commute going to get worse the bigger my city gets?
Does the weather play a role in my decision making?
GREATER VICTORIA AREA
[IMAGE: Map showing Greater Victoria, BC]
This area consists of a few cities and towns located along Vancouver Island. If you are planning on living somewhere near the coast it's probably a good idea to research prices as they vary greatly depending upon the type of housing you're looking at.
I'm currently researching a town called Qualicum Beach, but there are plenty of places to pick from. It really depends on your needs. If price isn't a concern then you could easily spend half a million bucks here without blinking twice.
If however, you prefer a cheaper place to call home than Qualicum Beach then you should probably head on down south towards Nanaimo. Here, the median price per square foot is just above 30 thousand. This makes it affordable and perfect if you want something small.
[IMAGE: Map showing Calgary, AB]
This area consists mainly of 2 main towns and some smaller communities. The prices here aren't cheap either and most people who move here end up spending a lot of money buying a place. However, if you're not worried about having enough cash on hand to cover your monthly payments then this might be a viable choice for you.
The average selling price of houses sold in 2017 was $532K while the median price for condos was $300K. If you decide against purchasing a condo though you should still keep in mind that the majority of homes sold during the past 12 months had an attached garage.
- Why is Texas's Real Estate Market Booming?
- In this edition of Investing In Radium Hotsprings BC we will cover some recent changes in the real estate market along with updates on new development projects throughout Radium hotspring. We will also take you through current trends and issues facing investors today. Finally, we will highlight several great opportunities available to both investor and owner alike in the coming years in radium hotspring, including land purchase options, townhouse developments and other properties across central hot springs. If you would like to learn more please read below or visit http://www.xondonow.ca/investment_radiumhotsprings_bc/.
Current Real Estate Trends
Radium hotspring continues to be experiencing significant growth due to increased demand from tourists visiting the area and locals who enjoy spending their weekend relaxing in nature while enjoying all the amenities that radium offers. This growth makes investing in real assets in radium hotspring viable and attractive to potential buyers.
Investor Interest Remains Strong despite Recent Challenges. Over the past 4 months, interest in radium hotspring seems to remain strong among prospective buyers which should only continue to increase going forward. Although most people view property values as being inflated during times of economic uncertainty, many properties still retain high value because they offer long term stability. Furthermore, the cost of living remains relatively affordable. All these factors combine to allow potential buyer's confidence in the real estate sector and overall economy to remain intact. As well, local government officials recognize and appreciate the importance of tourism to our community and will try to work with developers to provide incentives to help encourage them to develop housing stock that meets the needs of prospective residents and visitors to radium hotspring.
Over the next few years, we expect to see continued growth in Radium hotspring with increased numbers of new homes and condominium units built especially near the airport. Many new homes are already under construction and should begin offering tours and listings in the coming weeks and months. While many of those condos won't be completed until 2018 or 2019, we anticipate seeing sales activity pick up in 2020 and beyond. With regards to townhomes specifically, we feel confident that there will be plenty of choice and inventory in the coming years as the first wave of townhome developments complete in 2016. At present we believe that there isn't enough supply yet to meet the anticipated levels of demand, however once current project completions come online in the late 2010s, we expect to see greater competition amongst builders to secure lots and therefore lower prices. Prices could then potentially fall 20% by 2020.
Land Purchase Options in Radium Hotspring
Ownership of farmland around townships is also becoming increasingly popular as the availability of large acreages increases, particularly close to communities. These are currently good investments but will become more valuable as population density increases closer to existing urban areas.
Finally, other non residential real estate opportunities exist as well which include commercial spaces and property management services. There is also scope for further expansion of recreational facilities and tourist destinations. For example, the nearby town of Cranbrook is developing a world class mountain resort destination called "Hot Lake Highlands" which includes luxury hotels, golf courses and spa resorts. This property will generate considerable revenue...
- New Construction Investment Opportunities in Spring Texas
- In this edition of XONDO guides to buying real estate in Radium Hot Springs BC we will take a look back at some history and current market trends.
Radium hot springs has always had strong growth in recent years due to natural resource development including oil, gas & coal projects which created many jobs. However these investments haven't materialised yet and most investors would agree the city still has great potential long term but until then buyers should be aware of the risks associated with investing during a boom cycle.
[IMAGE: Radium Hott springs map in Canada ]
The first oil wells located in Radium hot springs B.C were drilled in 1927 producing 100 barrels per day of light sweet crude oil. Today's production rates remain well below historic levels however the local economy is currently booming thanks to the growth of several large scale petrochemical and heavy industry in nearby Kitimat which provides both direct employment opportunities and tax revenue boosting government infrastructure spending.
[IMAGE: Construction cranes dotting skyline in Radium Hot Spring ]
While the demand for housing remains strong there are a few drawbacks to consider when considering a purchase of a home in radium hotsprings bc. These include 1) high prices 2) lack of inventory 3) lack of a downtown commercial district 4) shortage of parking spots 5).
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- Examining Real Estate Market History in Texas
- Getting Approved For Your New Home Purchase in Radium Hot springs is Easy
The key to getting approved for your mortgage loan is having good credit.
If you have bad debt, late payments, defaults, foreclosures, bankruptcies and other blemishes on your report, this will be reflected in your score. A poor credit score could mean that you won't get accepted for financing or you'll pay higher interest rates to finance a larger down payment.
Your lender will use information found in your credit file and income history to determine whether you're a suitable candidate for a certain type of loan program. If they find that you aren't eligible because of your financial situation or lack of assets, they may offer alternative options instead.
In order to qualify for financing, lenders generally ask applicants to provide proof that they meet specific requirements regarding employment status, monthly incomes, debts incurred during the past 12 months, savings accounts or investments, and the value of property owned.
If you've got solid documentation showing that you've made significant improvements to your finances since your last application — like paying off bills on time, paying back student loans, and saving enough cash for a downpayment — then it's easier to secure approval than it would otherwise be.
How to Improve Your Credit Score Fast
If there are no credit card companies offering 0% APR offers, or you're unable to obtain financing through conventional banks and lenders due to a poor credit rating, there are several strategies available to improve your score fast and increase your chances at securing a home purchase. Here we will cover some quick tips to help you achieve your dream of owning a house. [IMAGE of credit repair]
1) Use a Debt Consolidation Firm for Free Consultations
2) Make Monthly Payments On Time
3) Pay Back Old Debts First
4) Avoid Late Payment Fees
5) Don't Fall Into Bad Spending Habits Again
6) Avoid Defaulting on Bills
7) Stay Organized & Track Expenses
8) Keep Up Good Communication With Lenders And Collection Agencies
9) Be Responsible With Money Management
10) Have An Emergency Fund Set Aside Just In Case Things Go Wrong
11) Avoid Foreclosure & Evictions
12) Get Rid Of Unwanted Items
13) Start Using Online Bill Pay Services Instead of Paper Statements
14) Get Help From Local Professionals Who Can Assist With Repairs Or Maintenance Issues
15) Consider Taking Out Insurance Policies Against Certain Damages
16) Don't Neglect Other Important Areas Like Health Care Coverage, Vehicle Repair Costs, Etc.
17) Take Advantage Of Debt Settlement Programs
18) Make Regular Contributions To Charity/Religious Institutions
19) Avoid Overdraft Fees By Checking Account Balances Often
20) Consider Buying Property If Possible
21) Consider Selling Assets To Raise Funds
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- Getting approved for your New Home Purchase in Spring, Texas
- If you're considering buying into residential real estate in Canada's Lower Mainland or Greater Vancouver region, then I would like to introduce myself first.. My name is James and while this isn't exactly my full-time job, real estate investing is one of the few things I've really found enjoyment doing over the years. Like most Canadians, I'm fortunate enough to be able to live anywhere, but I actually grew up around the Radium Valley area of BC near Nelson Lake, which is the perfect place for someone who wants some peace & quiet along with beautiful sunrises across the lake every morning! If you'd prefer an active lifestyle, Nelson Lakeside offers several fantastic hiking trails nearby. There are many other towns close by including Hope, Penticton and Kamloops as well...
In addition to being located next door to a few great ski resorts, the North Okanagan/North Shore is blessed with amazing outdoor adventures all through summer months as well! From golf courses and mountain biking routes to white water rafting down the Shuswap River, there truly aren't bad days to enjoy life outdoors here.... But before we get into why I wanted to write this particular article today, I'll tell you a little bit more about me personally to help establish credibility! If real estate investing was something you had always dreamed of trying, perhaps aspired towards someday becoming a millionaire by flipping houses yourself, I hope my story will inspire you to go ahead and start taking steps towards reaching those dreams sooner rather than later :)
I am currently living just 5 mins away from the Canadian border in Kelowna, Bc. My wife and I moved back to this part of the world after having lived out west for nearly 12 years during which we bought and sold quite a bunch real estate properties both commercially and privately ourselves. We eventually decided to return closer to family since we knew that once we started having children, the long commute to work wasn't realistic anymore due to traffic congestion & commuting times in general getting longer and longer each passing day. Also because, we felt the quality of schools / childcare options were better in Central B.C. as opposed to some places further north like Chilliwack. So now, we're excitedly planning to move forward with building our own dream retirement house that has space inside specifically dedicated for guests whenever they visit us at our lakeside community :-)
While I love helping people achieve financial freedom themselves, I also love talking with potential clients (like YOU!) about various ways to improve their odds of achieving that same level of independence in their lives... And while real estate investing can sometimes seem intimidating, especially early on, I believe anyone willing to put forth the effort required is almost certainly going to see positive returns on their initial investment sooner than later if they stick with it long term.
So without further ado, let's take a deeper dive into why I wrote this article today... Why should you become interested in Real Estate Investing? Here are 3 main factors I feel strongly contribute to the fact that so many people decide to invest in real estate instead of traditional stocks and bonds. Some people will find these answers interesting and compelling enough to be motivated to take action immediately, while others won't care either way. Either way,...
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- In case you missed our 2018 edition of this post, check it out below.
Radium Hot Springs Is The Perfect Place For Your Next Home Purchase
British Columbia isn't just known for being the place for outdoor adventure. There are tons of places across BC like Squamish, Nanaimo Island & Victoria offering excellent real estate opportunities to purchase homes, condominiums & townhomes with new developments. And these communities typically offer fantastic lifestyle options which include everything from great schools, shopping centres to amazing restaurants. But why settle for living outside of Vancouver or other urban core areas when you could find yourself with some stunning mountain views, acres of land and a whole lot less traffic and noise? If you're interested in finding out about a unique community in beautiful British Columbia make sure you take a read through the following article and learn more about Radium Hot Springs.
What Makes RHS So Special?
If you've ever heard anyone talk about "hot springs", chances are they're referring to Radium Hot Springs because we are THE hot spring destination spot for people who love taking long relaxing baths while enjoying the view. Located 15 minutes east of Kamloops, the area was originally developed back around 1904 after prospectors discovered gold deposits but quickly became popularized with tourists due to the natural mineral bath water found at nearby attractions.
These days, Radium Hot Springs offers visitors several fun things to do besides take a dip including hiking trails galore, swimming spots, fishing streams, bike paths & plenty of scenic driveways to explore. Our favorite thing though is undoubtedly getting lost amongst the surrounding mountains and having the entire outdoors become part of our vacation experience. We'd be lying if said otherwise...
Where Do I Live?
Radium Hot Springs sits along Highway 95 between Kamloops and Merritt. From downtown Kamloops, head east towards Chilliwack then get on highway 518 southbound towards Prince George. Once you reach Merritt, cross the Trans Canada Hwy onto Highway 97 heading East. After roughly 20 km you'll arrive in the village of Radium Hot Springs where most accommodation will be located. Check out our accommodation page to see what else there is available for those looking to stay close to the main attraction.
We highly suggest renting a car if staying anywhere near Radium Hot Springs. A taxi is only $10 per person roundtrip and parking is always affordable. Our friends at Budget Car Rentals are conveniently located across the street from the Radium Hotel/Restaurant making them perfect for picking up rental cars if traveling solo. They also provide shuttle service to nearby destinations such as the airport and golf course should the need arise.
How Much Will My House Cost Me?
This question is probably going to be the first one you ask us no matter where you buy property whether it's Canada or elsewhere. When it comes to selling properties and buying houses online, many investors like ourselves rely on third party agents to help us source listings when searching for the property we ultimately end up investing in. While prices fluctuate depending on location, condition & amenities and a few other factors, it really varies quite dramatically. As with anything related to real estate though, it pays to...
- How Xondo makes Home Buying & New Construction Investing in Spring Easy?
- Home buying in Radium hot springs will become easier than ever thanks to the launch of XONDO’S NEW HOME INVESTMENT SERVICE which provides investors the most convenient market research tools available anywhere online.
XONDO enables homeowners to quickly discover current price ranges and property information including square footage, lot size, building age, proximity to amenities like schools, grocery stores, restaurants, and transit lines. By comparing these factors, savvy real estate enthusiasts will be able to get a better sense of exactly where they stand when searching for a place to buy or sell.
[IMAGE: Real Estate Agent Markham, BC showing house listings in Radium hot springs]
This way savvy buyers can identify houses that fit perfectly with their lifestyles while eliminating those properties that won’t match them. Real estate agents in radium hot springs can easily see a listing overview with the click of a button in less than five seconds – no typing required – giving potential clients a quick snapshot summary of each home’s unique characteristics without having to search through hundreds of online pages. And since homes sold for significantly higher prices during the recent recession, this snapshot analysis method will help sellers find homes priced just right for buyers who could spend thousands of dollars down payment. Plus, once people enter details about themselves, XONDO recommends other similar homes that meet their criteria. Finally, with XONDO’S IMMERSIVE TECHNOLOGY, potential buyers and sellers can view full-size digital images, video tours, virtual reality walkthroughs, 360° photos and 3d visualizers inside the living space of every single property listed on the service. All in real time with the touch of a finger.
In addition to helping individuals locate desirable places to live, XONDO helps developers pinpoint areas in need of new housing options, opening doors for builders to focus development efforts on specific locations rather than on generic areas across town. And since many people will always prefer newer buildings versus older ones, finding new developments near popular destinations like shopping centres, parks, schools, work hubs, hospitals and groceries can really bring value to local communities. Developers can tap into this wealth of knowledge and expertise, gaining access to new prospective customers all at once – dramatically increasing traffic, sales and conversions.
[IMAGE: XONDO's immersive technology lets renters in Radium hot springs use 2 dimensional screens instead of flat TVs]
Now that prospective buyers and sellers can instantly browse high quality pictures, videos, interactive 3d models, location maps and virtual tours, XONDO offers a new level of convenience and control to both parties when making critical decisions related to moving forward together. For example – a buyer can view detailed interior layout drawings and floorplans, zoom straight in on their ideal kitchen/bathroom layout, check out outdoor views, learn everything they should know about school districts nearby, and then finally decide whether or not to book a tour time slot with a realtor that specializes in housing transactions in Radium hot springs. Likewise, realtors can show interested buyers onsite renderings, pricing sheets and additional info about each particular residence. They can also offer feedback after viewing each image, allowing consumers to evaluate the overall appeal of a given...
- How To Make Money On a New Home or Condo Purchases in Spring, Texas
- In this edition, I will cover some great ways you can profitably invest in real estate, including buying rental properties, land and commercial real estate. There’s no better way than investing in property and I believe that you should start with the basics first.
First things first, how can someone make a good return on a home purchase or rental? Well, the answer to that question is quite straightforward and it depends on many factors, but most importantly it all revolves around location. So what does “location” mean exactly? Location refers to whether or not a place is near other amenities like stores and schools which will help drive demand.
Another key factor is proximity to transportation options, especially mass transit systems. For example, Vancouverites love taking trains because they provide them with the ability to travel anywhere without being stuck in traffic, whereas people who live in smaller towns often use buses to get around. Lastly, we must consider affordability. If you buy a house for $1 million dollars and it only takes 20% down payment, then your monthly mortgage payments could be close to $40k/month, making your net worth increase dramatically every single quarter.
[IMAGE: Image showing a house in Radium Hot Springs BC]
Now that we understand why real estate makes sense for us investors, lets take a look at the various types of investments available today.
Real Estate Investments
When it comes to investing in real estates, there are basically 3 categories which include residential, land & development and commercial.
Residential Property Investing
For starters, residential real estate includes single family homes and condos. These are your entry level property choices since they tend to offer lower returns but also come along with less maintenance headaches. However, these properties usually require little upkeep and therefore can easily be turned over quickly. As a result they tend to produce higher cash flow and therefore more profits.
Land and Development Property Investing
This category involves purchasing large plots of land which can eventually become subdivisions. Land prices tend to rise as the value increases and these properties typically require significant improvements such as roadways, sewers, electrical lines and water. They also often involve extensive planning processes. Therefore these types of properties typically carry higher risks because it requires longer lead times and can take years to fully reap the benefits.
Commercial Real Estate Investing
Finally, Commercial real estate consists of office buildings, shopping centres, industrial complexes and hotels. These properties are generally larger scale ventures and therefore have greater financial risk associated with them. This is mainly due to the fact that there are fewer properties in one area and thus competition tends to be fierce so prices tend to fluctuate frequently.
However, the upside is that once completed, they will generate high revenues and profits which can be used to offset losses incurred while building and operating the projects.
So that covers the different kinds of real estate investments available today. Now that you have an idea about each type, let me show you what you can expect if you decide to go ahead with your own project.
How Can One Profit From A Residential House Purchase?
If you decide to invest in a residential real estate property, there are several ways you can benefit from your decision. First of...