Whether you are looking to buy your first or fifth investment property, getting started can be a daunting task. What’s the perfect location for your new property? When is the right time to buy to maximize your return on investment? How are you going to deal with the day-to-day operations of your rental property? If you’re considering a new investment property purchase, there are likely a myriad of questions swimming around in your head.
Most investors looking at purchasing a rental property are making a calculated financial decision to make their property work harder for them and grow their wealth and create a passive stream of income. Unless you’re an HGTV fan or a do-it-yourself enthusiast, you likely aren’t jumping at the chance to spend hours studying the fluctuation of the market or tackling a remodel.
If you are a busy investor who wants to explore the world of real estate investment without the added stress, let’s explore a few easy hands-off ideas to invest your money without investing too much of your time.
Partner With A Professional Lender To Ease Financial Stress
If you’re looking to invest in a new rental property, there are several ways you can go about securing a loan that will ease financial stress and save precious time. Rather than shopping around for a bank loan or betting on an agency loan that can be hard to obtain, consider partnering with a Non-QM or Alternative Lender.
Alternative lenders are your most pain-free option, offering you simple 30-year lending terms and freeing you from the restrictions of the bank. If you’re looking for a flexible investment property loan program, stop wasting time digging for your tax documentation and choose a professional alternative lender.
Purchase A Turnkey Property And Avoid Costly Repairs
If you purchase a home that is ready for renters without any major repairs or renovations, this is known as a turnkey property. When you buy a turnkey property, you are saving yourself the headache of working with contractors or doing any renovations yourself. This is a great strategy to invest your money in a property without the huge headache of dealing with costly and time-consuming repairs.
Hire A Buyer’s Agent To Find The Perfect Property
One of the most difficult aspects of property investment is finding the property. While technology plays a more prominent role in the real estate industry each year, the majority of home buyers still report hiring a real estate professional to help them procure the best investment and negotiate a fair price.
Rather than spending hours online scrolling Zillow, allow a buyer’s agent to do the work for you. These professionals are trained to find you a property in an up-and-coming area that will give you a good return on your investment and cut down on exhausting research and leg work on your end. With the rise of automation in real estate and the safety precautions of the post-pandemic era, it’s easier than ever to communicate with real estate professionals online, making your search pain-free.
Work With A Property Manager To Manage The Day-To-Day
Once you have acquired your new rental property and it’s ready for tenants, someone will need to manage day-to-day needs such as fielding renter complaints and tending to minor repairs. To maintain a hands-off approach to your investment, consider partnering with a property management company. You will be able to go about your life without worrying about the upkeep of your investment when you delegate those pesky maintenance tasks to a property manager.
If you are considering purchasing an investment property, you can’t necessarily put your life on hold to deal with the aggravating details. When you choose an alternative lender, hire a real estate professional, partner with a property manager, and purchase a property that is move-in ready, you will be able to cut down on stress and save yourself valuable time (and headaches!) to focus on what’s important in life.
Latest posts by B2BNN Newsdesk (see all)
- How To Build a Business Process Workflow To Improve Efficiency - May 15, 2021
- Guide To Developing and Implementing a Safety Program - May 15, 2021
- Window Cleaning Business: Equipment, Tools, and Supplies You’ll Need - May 15, 2021