Home & Family | Real
Estate Guide
Is Real Estate Investing
r e d i s n o C o t s r o t c a F by Stefanie Powers
In these precarious times, investors are looking for the best bang for their buck. There are various ways to invest money; real estate is one of them. “Investing in real estate can be highly profitable, especially if you are willing to hold onto the property for an extended period of time and reap the benefits of the property’s appreciation value over a long stretch,” says Erin Allen, sales manager at Flavin Realty.
But like any investment, there are pitfalls, and nothing is ever a sure thing. Let’s look at the pros and cons of real estate investments. On the plus side, you can occasionally obtain real estate at a below-market price when the homeowner must sell quickly, and you have the necessary cash to take advantage of the situation. Foreclosures and auctions are another way to find deals. Next, real estate can generate consistent cash flow. If you purchase a rental property that
already has good tenants, you will receive monthly rent payments, and even additional payments associated with them, such as for storage and parking. And real estate tends to appreciate. Also, if you’re handy, renovating a fixer-upper may generate an increase in property value. House-flipping is popular, but always remember the 70% rule: Don’t spend more than 70% of the home’s after-repair value minus the costs of renovating the property.
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Thrive Magazine for Better Living • June 2022