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Tips for Financing Investment Property Dallas (2019 Update)

You probably already know that real estate is one of the wisest long-term investments for any individual’s portfolio. It serves as a stabilizing force and can also provide regular cash flow and even a very quick return on investment (ROI), depending on the property, location, rent, and management. However, most investors looking to purchase investment property need advice. Dallas has copious investment opportunities, but without the right investment property advice in Dallas, you could end up wasting a lot of time and money.

Of all of the investment property advice in Dallas, we would first recommend knowing how to finance your investment well to minimize principle and interest for a better overall investment. Before you do anything else, before you even start looking at properties, you must first know your credit score. If you have a score that’s less than 740, you may want to do some credit repair before you invest.

With good credit, you may not need to put a large down payment on the property, but don’t just go for the smallest down payment possible. Instead, look at your finances and figure out the largest down payment you can afford. Keep this in mind as you begin searching for real estate. The larger the down payment, the smaller the principle left on the property, and the more you’ll save on interest in the long run, too.

With that figured out, it’s time to get pre-approved for a home loan. Once you know how much money you’ll qualify to borrow, you’ll know exactly what price range to look for.

If you’re purchasing a single-family home as an investment, you may want to consider purchasing it as an owner occupant and living in the house for some time before you begin renting it out. This is because the interest rate on owner occupant properties tends to be much lower than the interest rate on investment properties. However, this is not always possible. A qualified investment group can help you with investment property advice in Dallas, whether you’re thinking of purchasing a single-family residence, a multi-unit property, or a commercial investment.

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The Top 2 Foreclosure Investment Mistakes to Avoid (2019 Update)

When it comes to investments, foreclosure investing in Dallas can be one of the best decisions you’ll ever make. However, as with any other investment, there are a few pitfalls along the way that can lead to a lot of wasted time and money. For example, perhaps the most common mistake that people make with foreclosure investing in Dallas (or anywhere else in the United States, for that matter) is lack of research.

Imagine, for a moment, that you’re a first time real estate investor and you’ve decided to invest in a foreclosure. You see a great sticker price on an auction property, and you go for it. You win the auction, and you believe you’ve walked away with an amazing deal…only to find out that you’ve just taken on all of the liens on the property, which total a great deal more than its market value could ever reach.

This scary scenario is more common than you might think, but it’s not the only mistake that new (and veteran) investors make when purchasing foreclosures. That’s why we always recommend getting involved with a reputable real estate investment network in Dallas before you decide on any particular property. With expert advice and the ability to pool your investment resources with others, you might be surprised at how much you can afford and how soon you’ll see an ROI.

In fact, getting into a real estate investment network in Dallas is a good way to avoid the other top mistake that investors make when purchasing foreclosures. In addition to lack of research, they try to do everything themselves. In general, unless you have years upon years of experience in buying and selling real estate, you are probably not entirely familiar with the laws and the particulars of purchasing foreclosures.

We highly recommend finding a real estate agent who specializes in foreclosure sales and who can walk you through the entire process, help you with research, and assist in avoiding bad purchases and finding the best market values. If you want to make more money on your investment with a lot less hassle, do your research and get expert advice and assistance. Your portfolio will thank you.

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Should You Invest in Turnkey Rentals? (2019 Update)

You’ve no doubt heard a good bit about opportunities to invest in turnkey real estate in Dallas. These ready-to-rent properties make it easy to invest in real estate without the time commitment and effort involved with being a landlord. There are quite a few advantages to these kinds of investments, especially for those who live out of state and/or who do not want to handle the details of property management. However, turnkey rentals in Dallas are not for everyone. You should know a few things about the pros and cons of these properties before you invest.

Turnkey real estate does not usually offer the same profit margins as other forms of real estate investment. Basically, when you invest in a ready-to-rent property like this, you’ll be paying slightly more than you would for other properties. Why? Because, with turnkey rentals in Dallas, the property will already include everything you need to start seeing a return on your investment.

Turnkey rentals already have property management companies, and many come complete with tenants already living there, as well. The property management company for your investment will take care of lease renewals and finding new tenants, as well as repairs and regular maintenance of the property. In other words, when you invest in turnkey real estate in Dallas, you’ll get a completely hands-free real estate investment.

Basically, people invest in turnkey properties for the same reasons that they delegate and pay for responsibilities and services that they don’t have the time to do. For example, on paper, you could save a great deal of money per year if you didn’t need a personal assistant or other employees in your business, but the reality of the matter is you would be wasting vast amounts of time, energy, and – as a result – money if you attempted this.

If you want to be a landlord and handle property management and tenant issues, then you can theoretically make more money back on your investment at a faster rate than you would with a turnkey rental. However, when you think of the time and energy that going with a turnkey property frees up for you, you might start to see the benefits of choosing this hands-free real estate investment.