New Year, New Real Estate Investment Opportunities!
Happy New Year from PropertyLark! What are your real estate investment plans for 2022?
Is this the year you finally take the leap and start investing in income properties? Or, if you are already a real estate investor, what are you looking to accomplish this year? Now is the time to figure out your business plan, budget and target return on investment (ROI) goals.
Don’t Wait. Start Planning Now.
If you wait until it’s time to buy a new property or start adding to your real estate portfolio, you simply won’t be as prepared. We’re in a very competitive real estate market right now. Home prices are going up and buyer demand is high because of low mortgage rates. It’s getting harder and harder for investors to find great deals on properties. Even if you find a deal, getting your offer accepted can be challenging.
In this seller’s market, you have to be ready to move quickly. At the same time, you have to be careful not to make hasty decisions that will end up losing you money. This is why it is critical to have a solid investment plan in place. Know what you are willing to spend on a property (or multiple properties). Know what types of properties you are looking for (flips, long-term rentals, short-term rentals, multi-family, etc.) and which neighborhoods offer the best profit potential. Have a property analytics system in place to effectively analyze houses you are thinking about buying. This will enable to you to stay within your budget and make sure the property meets your target cap rate or target ROI before you commit to buying it.
Build up your service network and know your budget for repairs and renovations. Have contractors, real estate agents and other service providers in place to help you through different phases of the project. Have a general purchase and renovation budget in mind. Then, be prepared to customize that budget for specific projects. No two houses are the same, so you have to carefully analyze and plan for each property you are considering.
Join the PropertyLark Network
One final thing to consider is joining the PropertyLark home buying network. We have an exceptional network of real estate investors and cash home buyers. We offer custom analytics software, home search tools and off-market deals on houses we’ve already identified as excellent investment opportunities. We pass these properties straight to our qualified network members.
To see if you qualify for the PropertyLark network, please fill out the contact form and brief home buyer questionnaire that follows. It is on the right of this page or on any of the buyer pages of our website.