History has shown that there are many different ways to invest your money and acquire wealth. That being said, these investment methodologies tend to fluctuate. Investment trends tend to come and go, but what’s interesting about real estate is that it’s always proven to pay out good dividends. From thousands of years ago to the modern age, people have always been able to make good money by investing in real estate.
The Challenge Of Making Successful Real Estate Investments
Now, the lucrative nature of real estate is no secret. However, if everyone knew how easy it was to make money flipping homes and renting out properties, wouldn’t everyone be doing it? The truth is, investing in real estate is seldom easy.
In fact, it’s actually quite challenging to know what properties are worth purchasing, how to hire contractors and communicate with them to fix them up, and how to stage your home for a quick sale. Renting out your recently fixed up property also presents a number of distinct challenges to navigate and overcome.
If you’re new to investing in real estate, it’s important to work with true industry experts — experts like our team of real estate consultants here at Private Funding Consultants.
The Value Of Our Private Money Lenders
At Private Funding Consultants, our strategy is simple yet remarkably effective: we help our clients find, fund, and flip. After doing extensive market research to help you find a property that’s worth purchasing and fixing up, we’ll then provide you with ample funding. Private money lending allows you to receive the capital you need to succeed without any setbacks from credit limitations.
We’re also experts in real estate sales, and we can help you navigate the home flipping process like a true professional. In certain cases, you may want to turn your existing property into a rental as opposed to selling it. Our real estate consultants are happy to help you rent out your property and, though we won’t manage it for you, we’ll make sure that you’re going about the rental process correctly.
Below, we’ll be covering a few essential considerations when it comes to renting out your property in the form of an Airbnb or another property rental service. If you have any questions or you’re ready to get started with our team of real estate consultants, please don’t hesitate to reach out to Private Funding Consultants!
Let’s get started.
Transitioning Your Property To A Rental
From the get-go, it’s important to clearly identify how you’ll be renting out your property. Will you be renting out the entire place? Are you going to live there and simply rent out one or two rooms? Based on the details of your property, make sure you have a clear business plan. Private Funding Consultants can help you with this.
A standard homeowner’s insurance policy is enough for…well, a standard homeowner. Since you’ll be renting out your property, however, you’re taking on additional responsibility for the safety of your temporary occupants. This means that you’ll need to extend your coverage to include any costs or situations related to renting.
The good news about permits is that they’re usually inexpensive. The bad news about permits is they are required for you to legally rent out your property. The neutral news is that permits tend to vary based on locality, so our real estate consultants can help make sure that you’re getting the right permits for your new rental.
Similar to flipping your home, anything that you invest into the value of your home’s space is likely going to draw in tenants. More amenities and a nicer living space also means that you’ll be able to charge more in rent.
Outsourcing Your Property Management
Investors with only one property prefer staying directly involved with their tenants, while other busy investors simply pay a property rental management company to take care of any repairs or tenant-related matters for them. This is a matter of time vs. money vs. effort.
Need Help With Rental Properties And Flipping Homes?
Private Funding Consultants is your go-to team for real estate help. From finding to funding and, ultimately, flipping (or renting), we’re here to help you realize your real estate investments. Learn more about our real estate consulting packages today or contact us to get started.