Real estate is well-known as one of the best investments there is. Wealthy magnates like Andrew Carnegie observe that 90% of millionaires earned their fortunes through real estate investment.
Real estate checks all the boxes of a dream investment. When it's handled correctly, it's the perfect source of passive income. The market is always growing, as well. People are always going to need someplace to live.
If you've been thinking of getting into real estate investing, here are some real estate investing tips. We'll show you how to find a good investment property, how to advertise your properties with good property marketing, and how to find the best tenants possible using tenant screening.
1. Study the Housing Market
To be able to identify a good investment property, you've got to be able to recognize a good deal when you see it. This means having an understanding of the housing market in the area where you're looking to invest.
Don't simply thrust it into your memory, either. Make a spreadsheet and keep track of historical prices. That way you've got cold hard facts to back up your intuition.
2. Know Your Niche
Real estate is a massive umbrella. There are many different ways you can get into real estate investment. It's important to know what you're striving for so you know what to look for.
Do you want to join the ranks of residential landlords, for instance? If so, do you have the skills to be a good landlord? It's okay if you don't, as that's what property management services are for.
You could also choose to be a commercial landlord and rent out storefronts or mixed-use spaces.
3. Find the Right Tenants
A landlord is only as good as their tenants. One of the most important landlord tips you'll ever hear is to make sure you get the right tenants for your investment property. A good tenant can be worth ten times their weight in gold, as they'll always pay on time and will often stay leasing a property for years on end.
Finding the right tenant is an art form in and of itself, however. If you're new to real estate investment, we recommend working with a property management company that has extensive experience in tenant screening.
Don't skimp on your property marketing, either. Spend some time taking good photos of your investment property. Pay special attention to the written copy for your advertising, as well. Choosing the right words will help you choose the right tenants down the road.
Of course, that's just one more thing a property management company in Denver can help you with. It's their job, to ensure their clients and Denver tenants both get what they need. Everybody wins, as your tenants will be happy and you'll have experts to help you with specialized tasks like maintenance, property accounting, rental inspection, and rent collection.
Looking For A Denver Property Management Company?
You've come to the right place! We've got everything you need to thrive in the Denver real estate market. Whether you're looking for real estate investing tips or tenant screening services, get in touch and let us know how we can help you in your real estate investment journey.