Getting Creative With Boston Residential Real Estate Investing

Many people want to invest in real estate but don't know how or where to start. If that sounds like where you are, this blog should help with the information that you need to get started! However, whether it's your first time investing in real estate or you've been around for a while, there is always something investors to learn about the business.

What are some of the more creative ways to invest in real estate? Here are some things that the best property management Boston offers suggests new investors should know before they dive into their first investment.

Why Invest in Real Estate?

There's a common misconception that investing in real estate is only for the wealthy, but this couldn't be further from the truth. On the contrary, real estate investments are one of the best ways to build wealth, regardless of your income level or net worth. So if you're looking for a way to invest your money with less risk than stocks or bonds, it's time to explore how you can get involved in real estate investing.

Saving to buy a house or home savings concept with grass growing in shape of house

Traditional Methods of Real Estate Investing Can Launch Your Career

With traditional real estate investing, there are two different types of real estate investing techniques, buy-and-hold and fix-and-flip. Let's take a look at the difference:

  • Buy and hold investments. This type of investing includes buying an investment property to hold onto it and collect rent from long-term tenants or to use as an Airbnb or short-term rental. This type of investment can be seen as passive because little work is required once you purchase the property.
  • Fix and flip properties. This type of investing involves buying a property, making renovations, then reselling the house for a profit. Fix-and-flip is an excellent option for investors who don't want the long-term commitment of buy-and-hold.

Real estate investors have made money from these traditional methods, but many savvy investors and beginners are starting to look at creative ways to invest in real estate.

Creative Ways to Invest in Real Estate Can Open More Doors

Creative real estate investing is anything that falls outside of either buy-and-hold or fix-and-flip properties. Creative investors like to think outside the box when making their investments. In some cases, seasoned investors or beginners need to get creative to break into a market or find more properties in a preferred real estate market. 

With so many strategies available today, there are plenty of ways to build long-term income from real estate investments, including:

  • Finding a deal with a motivated seller. Using social media sites like Facebook to connect with sellers who may not necessarily be looking for investors but are ready to sell a property sooner rather than later.
  • Get to deals early. Sometimes building a real estate portfolio requires making a deal with a seller to buy a house before anyone else knows about it.
  • Skip the middle man. Avoiding real estate agents can boost your bottom line when buying a property directly from the seller.
  • Take advantage of owner financing. If you're struggling to get a loan when you need it, bypass a traditional mortgage and let the owner finance the property.
  • Make several offers on the same property. "No" doesn't have to be the end of your bidding efforts on an ideal investment property! 
  • Create a bidding war when you are ready to sell a property. Sometimes making more money is easier when buyers bid up the price of your property! 
  • Use private or hard money lending. This is another excellent option if your bank-backed loan hasn't come through yet.

Group of white paper ship in one direction and one red paper ship pointing in different way

This list is not exhaustive, so use it as fodder to get your creative juices flowing when looking for your first (or next) investment properties! Make sure to use a real estate investing calculator to determine whether a potential property will provide the return on investment you need to meet your financial goals. 

One Final Method to Consider

One more creative way to buy a property is the "subject-to" mortgage. The subject-to technique occurs when an investor finds a property to purchase. The owner agrees to carry back an existing mortgage on it, with the buyer making all payments until they are ready to take over the loan.

This is different from taking on an assumable mortgage because, in this case, you don't need approval from the bank or credit union that holds the original mortgage. If you're wondering how to invest in real estate with no money, "subject-to" mortgages allow people who might not qualify for a regular mortgage to buy a real estate investment.  

Rental Property Experts Can Help You Invest Creatively!

Whether you're a fix-and-flip investor or prefer rental properties, the creative strategies available today can provide more opportunities for success. Then, if you need help with any aspect of your investment plan, work with one of the best property management companies Boston offers to use their expertise. A property manager can even take care of tasks such as paperwork and maintenance on your rental properties after your creative purchase! No matter how complex your needs may seem, CHARLESGATE Property Management delivers property management services to help you meet your investing goals.

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