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How to Choose Turnkey Properties in Dallas? (2019 Update)

As an investor, you have more important things to do with your time than finding new tenants, chasing after late rent payments, fixing toilets, and replacing refrigerators. For you, the point of purchasing a rental property (whether residential or commercial) is to collect passive income and diversify your portfolio while you look for more investment opportunities. This is why turnkey properties in Dallas make the most sense.

However, if you want to make the most income on any real estate investment, you need to know how to find the best properties. Instead of stumbling blindly through the Dallas investment real estate market, follow these simple steps and you’ll find the best properties for your portfolio to give you long-term appreciation while offering short-term income.

Identify Your Market

First of all, do you know what kind of property you want to invest in? In the Dallas area, residential rental real estate is incredibly hot right now and shows no sign of dipping any time soon. Thus, a lot of savvy investors are purchasing turnkey apartments and houses that come with property management and tenants. While you’ll pay a bit of a premium for properties that are not only ready to rent but also come with tenant acquisition and property management, you will also have no work to do to begin collecting monthly income immediately.

On the other end of the turnkey spectrum, Dallas has a huge demand for medical real estate right now, as well. Investing in a doctor’s office, urgent care facility, or senior home could be very lucrative and a great way to diversify your investment portfolio. With this kind of investment, though, you will likely be purchasing stock in an REIT or investing in a real estate mutual fund, and you will actually own equity shares in the property, rather than actually taking ownership of the property itself.

If you want to outright own a piece of property that makes you a profit as soon as you purchase it, you’ll likely be in the market for a house or condo property. Whichever way you go, though, be sure to do your research and identify your market and what kind of property you’re interested in for your portfolio.

Research the Property Management Firm

When you start looking at turnkey properties in Dallas, remember that you are not just buying the house and the land it sits on. You’re also paying a premium for property management. So, in addition to looking at the actual property to ensure that it’s what you want, you also need to look into the property management company you’ll be partnering with.

Before you agree to anything, first find out a few key things about them. You’ll want to know how many properties they currently manage, how many people they have on staff, and how many properties their current corporate infrastructure will handle. Then you’ll want to know how they intend to grow and continue to provide top-notch management service for their existing properties.

You’ll also want to ask about tenant acquisition, average lease lengths, average tenant turnover rate, and what they do to retain tenants. Whenever possible, ask for references and follow up on them. The more you know about your property management company, the more you’ll know about what you can expect when you purchase your turnkey property.

Do the Math

Finally, before you buy the property, do a little bit of simple arithmetic. Take the amount you’ll receive in monthly income on the turnkey property and subtract your mortgage, property management costs, and property taxes from that. If the result isn’t a positive number, then move on to the next property. If it looks like a good number that you can work with to grow your wealth and increase your future investment opportunities, then it may be time to sign on the dotted line.

Now you have a guide to finding and choosing turnkey properties in Dallas. With this information, you should be able to make the best choice for your investment portfolio.

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3 Simple Reasons You Should Attend More Real Estate Investment Seminars (2019 Update)

Whether you are a novice or seasoned real estate investor, if you want to diversify and stabilize your investment portfolio while growing your wealth now and into your retirement, you can benefit from attending more real estate investment seminars. A quality seminar holds massive potential for even the most experienced and expert investors, including opportunities for further education, more networking, and exclusive investment opportunities you would not otherwise be privy to.

However, a lot of investors will avoid these events, believing that they are a waste of time. In all honesty, most investors who are “too busy” or “too skeptical” of real estate investment seminars are often afraid that they will be wasting their time or money, or they are anxious about putting themselves out there in front of real estate professionals and experts. If you fall into one of these categories, you are certainly not alone, but you should know exactly what you can get out of attending more of these seminars before you write them off entirely.

Improve Your Real Estate Investment Education

First of all, every investor can improve their real estate investment education. Whether you have been investing in commercial and residential real estate for decades or you are just beginning to dip your toes into the world of real estate investment, you have most definitely not learned everything there is to know.

Real estate investment seminar organizers work hard to attract speakers who have been successfully working in this field for some time. However, they don’t just invite the “old guard” to speak, either. Many speakers you’ll find at these seminars are people who know how to navigate the waters of today’s millennial market. They understand that tenants, corporations, businesses, and investment opportunities have changed over the years and that investors have to adapt to these changes.

You could read dozens of books on real estate investment, but you will not get the same perspective from them that you’ll get from successful speakers who understand the way today’s markets work and how to gain more passive income from your investments today. So, whether you are new to the real estate investing game or you’ve been around for years, you can always learn something new when you come to an investing seminar.

Networking Is Essential to Real Estate Success

In addition to learning from the speakers at real estate investment seminars, you can also get a great deal of value from getting to know other attendees. These events attract investors of all experience levels in all types of commercial and residential investment real estate. The real estate world is built on relationships, and attending one of these seminars can open up a lot of opportunities for creating and building those relationships.

By networking with other investors, as well as real estate and finance experts, you can get to know the markets in your area much better. Not only that, but after the seminar is finished, if you follow up and build on the conversations you had with these people, you will build recognition in the investment community and show that you are a real player. Then other serious players in your area will be more likely to want to partner with you on deals in the future.

Exclusive Investment Opportunities

Real estate investment seminars often offer exclusive investment opportunities, as well. You will by no means be obligated to put your capital into any investment opportunity available to you through the seminar, but having access to this kind of investment can be very lucrative.

Be aware that some real estate seminars are designed solely to help the speakers make money and sell books. However, you can find quality seminars that will give you good information and great opportunities to network with other investors, as well as opportunities to join trusts, mutual funds, or real estate investment clubs to get more out of your investments.

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Different Investment Opportunities in Medical Real Estate (2019 Update)

While both commercial and residential real estate markets all over the United States have shown massive progress and improvements over the last few years, one type of real estate stands out. Since the enactment of the Affordable Care Act, more people in the US have health insurance than ever before, which means that more patients are seeking primary and specialist care than in years past.

As a result, there’s a much higher demand for medical offices and facilities than in years past. However, medical real estate does not simply represent a single opportunity for investors. In fact, if you are interested in capitalizing on one of the fastest growing and most lucrative sectors in real estate, you have a few different options open to you.

Medical REITs

Most medical and healthcare facilities and offices are large enough investments that individual investors cannot afford them on their own. However, they make brilliant investment opportunities for investors who pool their capital. Thus, more and more REITs (real estate investment trusts) are focusing on medical and healthcare properties.

Depending on your area and the type of investment you want to make, you may want to look into different types of REITs in your area. Some focus specifically on primary care and urgent care facilities, while others focus on building and developing hospitals. Still others focus on senior care and senior communities. Consider the demographics of your community and whether or not your area would be a good hub for a large hospital, more primary care offices, or senior centers. Then you can determine which of these types of REITs will be the most advantageous for you.

Crowdfunded Medical Real Estate

Of course, you don’t have to invest in an REIT. Instead, if you are an accredited investor, you can join a real estate crowdfunding site and look into investing in specific medical real estate developments. When you go this route, you will need to do your own research and determine whether or not a proposed project for funding is likely to succeed or not.

Crowdfunded medical real estate has the advantage that you can choose to invest as much or as little in any one project as you like. It also allows you complete control over which properties you invest in, which is a luxury you won’t get when you invest in an REIT.

However, you should be aware that there are some disadvantages that come with real estate crowdfunding, as well. For example, real estate crowdfunding is still a very new style of enterprise. As of now, most established and highly successful developers have the connections and means to get funding for their projects without resorting to crowdfunding.

Thus, when you pledge funds to back a project, you will likely have to assess the level of risk associated with the developer behind the project. Look into their previous projects and see what kind of track record they have with medical real estate. This style of funding is gaining more traction, and some larger developers are moving toward at least partially funding their medical real estate projects with crowdfunding sites.

Basically, when deciding to go with an REIT or real estate crowdfunding, you’ll have to identify and assess your risk levels. Does your REIT have an acceptable track record with funding profitable developments? Are you comfortable with putting your investment capital in their hands in exchange for stock in the trust? On the other hand, do you trust your own research to make the best decisions on crowdfunded real estate projects? Does the ability to invest in multiple properties of your choosing outweigh the risks of backing potentially untested developers?

With so many different investment opportunities in medical real estate, the major question for most investors is which style of investing to choose. Whether you go with a healthcare REIT or crowdfunded medical real estate, you have the opportunity to see significant returns on your investment in relatively little time, thanks to the ongoing high demand for medical properties in the US.