Ambitious real estate investors often considered new ways to build wealth and become financially free. Success in real estate investing requires a certain degree of ambition and a portfolio to go with it. If you want to increase your success, it’s a good idea to expand your portfolio to include a variety of properties.
How Ambitious Real Estate Investors Can Expand Their Portfolio: Buy Commercial Properties
Getting into commercial real estate is a big step for many real estate investors. It costs a lot of money upfront. The flip side of that is that it can be easier to obtain financing. It has more scalability as well, and can more easily be turned into passive income. This is especially the case if you are able to hand off management of the property to someone else. If that is to be successful, you’ll need to find a quality property management team who can handle management duties correctly.
Custom Home Building
Investing in residential real estate isn’t limited to homes currently on the market. You can invest in custom home building as well. It’s a similar concept to the house flipping approach to real estate investing, with the idea that you can sell the home quickly once it’s built. Custom homes come with several different plans that represent unique styles. This can improve the property’s desirability. You’ll also be less likely to stumble upon hidden problems within the house, which makes the costs more predictable. The downside is that it can be more difficult to finance a spec house and it takes longer before the house is ready to sell. There’s no guarantee that it will sell quickly either, so consider the popular trends carefully when designing a spec house.
How Ambitious Real Estate Investors Can Expand Their Portfolio: Multi-Family Housing
If you want to generate multiple sources of income from a single property but don’t want to get into commercial properties yet, investing in multi-family housing may be a good option. The separate incomes from individual units promote better cash flow and reduce some of your risk. It also gives you the option to live in one unit and rent the rest. There are tax benefits for multi-family housing too. Keep in mind that it tends to require more management than single family housing, is more costly upfront, and the market is often more competitive.
Expanding your portfolio can be just the thing you need to boost your passive income and become financially free. Consider expanding into commercial properties, custom home building, and multi-family housing. The more diverse your portfolio, the better it’s able to withstand trouble that comes along and the more financially secure you become.
Want to get more into real estate investing? Join the SWFL REIA today!
See you at a meeting soon!
The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agent, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.
Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.
To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.
The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.
We meet twice a month.
One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that they do not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.
We look forward to meeting you at a meeting soon!
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