Thursday, 10 September 2020 13:48

Your Comprehensive Guide to Property Investment Advice

Your Comprehensive Guide to Property Investment AdviceSome property investors take a “go it alone” approach to property investment. They do a little bit of reading and spend some time making good and bad decisions to understand how to make the most money. This approach, while creative, can lead to a lot more bad decisions than finding reputable property investment advice.

Property investment advice comes in many forms. You might receive some investment advice from your realtor, and if you’re like most people, you’ll probably receive some unsolicited investment advice from your friends and family. The best property investment advice, though, comes from the experts.

 

Do You Need Property Investment Advice?

Unless you’ve got decades of property investment experience as well as an extensive set of degrees in analyzing the housing and stock markets, there’s a good chance that you do need property investment advice.

There are some specific circumstances, however, that especially warrant advice from the experts, like when you are:

Investing in property the first time: It’s always a good idea to seek property investment advice before you jump into the market. You need a basic understanding of all the costs associated with renting or flipping a property, as well as the potential income you could receive from it.

Taking on a new type of investment property: If you have a lot of experience working with single-family homes in your hometown but want to expand to apartment complexes a few towns over, this is a key opportunity to seek investment advice that could save you time and resources.

Applying for a new type of investment loan: Some property investors start by flipping houses with hard money loans, which you have to pay back quickly. You should seek property investment advice before you take on long-term loans like conventional mortgages.

It’s also a good idea to periodically talk to an expert in the industry. You can find out about lending updates as well as new trends for investment property financing.

3 Tips for Finding Reputable Property Investment Advice

You can find thousands of blogs and websites that feature “property investment advice.” Unfortunately, they aren’t all reputable, which means they could put you in a risky situation. Review these tips for finding the best advice from property investors.

1. Start with a commercial bank or a large financial institution.

If you’re an individual and you are just looking to enter the investment property market on a very small scale, you can start by seeking property investment advice from your bank. If you already have a relationship with a banker, that’s a good place to start.

You can also research other commercial lenders that have an extensive presence in the rental property space. If you’re interested in Airbnb loans, for example, read through their advice section on how to make the most from short-term and vacation rental property financing.

2. Read blogs from well-known names in the industry.

While you don’t want this to be your sole source of property investment advice, some financial institutions have blogs with relevant advice from experts in the industry. These blogs feature a variety of property investment topics so you can get a basic understand of how they work.

These blogs are also a way to find reputable lenders. Certain commercial lenders might sponsor some of their content, where other lenders may simply offer services that can’t be beaten. Pair this with property investment advice from a rental property lender and you can put together a solid investment strategy.

3. Work with a company that offers investment property financing.

A great resource for property investment advice is lenders themselves. While commercial lenders have blogs that feature expert advice, it’s generally very hard to get one-on-one advice from an expert with them. That’s why you want to work with lenders that can give personal investment advice.

The best property investment advice will come from lenders that specialize in rental home financing. These companies might have a small, curated selection of loan options, but they work exclusively with investment properties, so they know more about the industry than broad commercial lenders.

How to Strategically Use Property Investment Advice

With the steady stream of readily available property investment advice on the internet, it can be difficult to figure out the best way to use this expertise. Do you just search for a general topic and hope for the best, or do you find a specific investment target and home in on it?

Before seeking property investment advice, review these tips for using it to effectively manage your investment portfolio:

Get advice from more than one source: Even if the sources seem to contradict either, it’s a best practice to seek advice from more than one person or organization. It’s even okay to seek advice from friends and family if they have rental property experience.

Set your investment property goals: If you want to make the most of your advice, you need to know what your goals are. Do you want to generate a steady monthly income and leave your job? Do you want to create a long-term plan for future investment opportunities? These goals are important.

Trust your instincts and be flexible: Depending on your goals, the right investment property financing for you is going to be different from your colleague’s options. You need to be flexible about the possibilities and trust your gut when it comes to deals that seem too good to be true.

Property investment advice is a critical component of success for many property investors. It’s also crucial for people who are new to investment property financing.

Why You Need Property Investment Advice Before You Make Your Next Investment

Every now and then, someone will decide they are going to invest in a new house, and they’ll be retiring early in no time. Unfortunately, investing in property doesn’t work that way. You need property investment advice to help you determine the right types of loans and the right types of property for your investment goals.

Property investment advice can save you an enormous amount of time and money. It can help you narrow down your options and apply for the right types of credit.

Looking for a reputable lender for rental property loans? Rental Home Financing has the best selection of investment property financing for every type of property investor.

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