How to Find and Buy Investment Properties
Have you ever thought about purchasing an investment property? There are millions of people in the same spot as you, wondering if it’s worth it to take the plunge.
The U.S. has nearly 20 million rental properties with over 48 million units for rent, and the demand for new investment properties is as high as it’s ever been.
The question is: how do you get started? Let’s take a look at the different types of investment properties and some key benefits.
Types of Investment Properties
Investment properties can include residential properties, such as apartment complexes, single-family homes, and multi-family homes. Commercial investment properties cover office space, manufacturing locations, storefronts, and other locations for businesses in need.
Benefits of Investment Properties
Whatever type of investment property you choose, you can rake in some great benefits. These include but are not limited to:
- Generating passive income
- Diversifying your portfolio
- Making money off of your property until you’re ready to sell
How to Find Investment Properties to Buy
If you’re interested in purchasing an investment property, here are some steps to get started:
#1: Consult a Realtor
One of the quickest ways to find an investment property near you is to talk to a real estate agent. Let them know what features, area, and price point you’re looking for to narrow down your search. They will work with you to find the right property based on your needs and budget.
#2: Check Out the MLS
The MLS includes all of the properties for sale in your area, which can help you find a property quicker. You may end up working with a realtor at the end of the day. However, viewing the MLS can save you time by showing you what’s available before you set up appointments to view the locations.
#3: Talk to a Local Property Manager
As property managers, we get the advantage of speaking with owners and investors all the time. That means that if you’re looking for an investment property to purchase, we may be able to point you in the right direction.
If you’re interested in buying an investment property in the Portland area, there are tons of ways you could go about it. Just don’t forget that one of the hardest parts about owning an investment property is managing that property.
Hiring a property management company such as Evergreen Property Management can make a world of difference.
Looking for property management services in Portland? Evergreen Property Management is here to assist you. Contact us today!