Did you know purchasing investment properties is a great way to ensure long-term security and a way to make passive income?
Real estate is a safe investment and will allow you to increase your income. If you're trying to decide which type of investment properties are best to invest in, you've come to the right place. Keep reading to learn about different properties you can invest in to make a profit.
1. Residential Rentals
If you want to buy and hold property residential rentals are a great option. You have two different options when it comes to residential properties, you can do long-term or short-term rentals.
Long-Term
There are pros and cons to long-term rentals and it's important that you spend time screening your tenants before moving them into your property. You'll determine how long you want them to stay in the lease contract, but typically you'll want to sign them for about a year.
If you find great tenants you may want to sign them for another year. It can be hard for landlords during the times in between tenants so you'll want to keep them as long as possible. As a landlord for long-term rentals, you won't have to worry about weekly cleaning and restocking as your tenants will take care of that themselves.
Short-Term
Short-term rentals are great for vacationers and you can make a lot of profit during holidays and busy seasons. With long-term rentals, you run the risk of having a challenging tenant but with short-term rentals, renters are in and out in a few days or weeks.
The property does require extra work as you'll need to have regular maintenance, cleaning, and marketing. A great option is to hire a property management company to take care of the property so you don't have to worry about filling vacancies every week.
2. Commercial Rentals
Another option if you want to buy and hold investment property is a commercial building or facility. These a slightly different than residential as you'll rent space to a company or possibly multiple businesses depending on the size of the building. These leases are typically longer than a year which many investors find appealing.
3. Fixer-Uppers
Fixer-uppers are another real estate investment option that many people choose. You're to find a property that needs some extra care, it may need an entire renovation or only a few repairs.
It's best if you can get the property for below market value, fix it up and sell it for a profit. Unlike the other investment properties we've discussed you don't want to hold this property long. The faster you get it fixed up and sold the more money you'll make.
Investment Properties
As you can see there are many options when you're looking to invest in property. The best property investment is the one that helps you reach your goals and increases your monthly income.
If you're interested in learning more about investment properties in San Antonio, contact one of our team members. We have helped hundreds of people manage their property and we can do the same for you.
