You’ve probably heard that real estate can be a lucrative investment; however, you might be afraid that there’s too much risk or too much work.
In the newest guide from Pioneer Homes, we provide all the facts you need to know, and debunk the myths that might be holding you back:
- I don’t have enough money to invest
- I can’t invest remotely (or, I don’t know how to identify the right investment)
- I have to be a landlord
MYTH: Investing in Real Estate is Too Expensive
If you limit yourself to your local market, your initial real estate investment cost may be too high.
As a general rule, you want to find a property with a rent that is close to 1% of the purchase price.
And even if you have a lot to spend, it might be smarter to find positive cash flow properties in multiple markets.
MYTH: I Can’t Invest Remotely
Before the internet, investors had to travel to town, scroll through municipal housing and income statistics, interview residents, and even tour the area on public transport. Today, with Rentometer, Mr. Landlord, PropertyWare, SmartMove and Dropbox, all of that can be done online — without ever leaving the comfort of your home (or favorite poolside lounge). In fact, U.S. real estate investment from overseas reached an all-time high in 2017.
MYTH: I Have to be a Landlord
You might think that to own a property you have to be a landlord. And you do have to ensure that your tenants are safe and satisfied in their rental home and you’re receiving your rental payments on time. But fortunately, you can do this from anywhere, without lifting a (proverbial) finger.
If you choose to invest in a property that does not already have paying tenants, you will have to advertise the property and conduct your own due diligence on tenants who apply to move in. Once your tenants are in, you’ll also have to maintain and, as necessary, repair the rental. But not with Pioneer Homes — we do that work for you!
Download the guide, Be an Investor, Not a Landlord
Click here to download the full report.