Many people are out there scouring the city for Investment property…cash flow property…rental property. Some are looking for their first house. Others have already amassed a portfolio of income producing properties. If the latter describes you, congratulations!
Are you aware of how much each rental property is worth? You may be surprised at how much home equity that you have at your disposal. Now what? Here are 9 different ways to move ahead via your investments (and for those of you looking for your first cash flow property, let this inspire you):
- Stay put. If everything is working well for you…and you are happily managing properties (or having someone else manage them for you), then just stay put.
- Refinance. Strategically refinance some of the properties and then invest in more of a good thing.
- Sell and move up. With rates still low by historical terms, you can sell some of your rental properties and buy the home of your dreams.
- Sell and vacation. Always wanted a vacation home? Now is your chance.
- Sell and pay off debt. Take some of your equity and pay off student loans, home mortgages or car loans. Live a debt free life.
- Sell and trade-in. Take the leap from single family rentals to a multi-family property or a commercial property.
- Sell and create a cushion. If you are concerned about what’s in store for the economy, use your equity to insulate yourself from uncertainty.
- Sometimes less is more. Be strategic about selling some of your properties and paying down the ones you keep in order to generate more monthly cash flow with fewer properties.
- Try something new. Ready to start your own business, invest in someone else, or try non real-estate investments. Here is your chance.
Call us to learn more about investment strategies. Life is what you make it…so dream big, work smartly, and invest wisely. Then take a step back and enjoy the fruits of your labor.
About the Blogger: Leah D. Flores is part of the Marisa Jackson Team with the Phyllis Browning Co., ready to help you with all of your real estate needs—selling, buying, and investment. She earned a BBA from Baylor University and is a licensed REALTOR. She is also a member of NAR, TAR, and SABOR Real Estate Associations. The Marisa Jackson Team is a Real Estate Platinum Top 50 finalist.