How To Pick An Area In Residential Real Estate Investing
There are a few key ingredients when choosing an area to invest. Firstly, ask yourself the following questions:
- Do you prefer to have your properties close to you?
- Do you prefer to buy resale or a new build?
If you'd prefer to have easy access to your properties, you will want to choose a strategy or type of investment (outlined below) suited for your particular area. If you're willing to drive a little bit, you likely have the ability to choose different residential real estate investing strategies because different locations are best suited for different investment types.
What to look for when choosing an area for residential real estate investing
- Always look for transportation routes. Existing ones like commuter train lines, highways, bus and/or subway transit systems. Even better than existing transportation routes are new transportation routes. New highways especially. They bring more people; more people increase the demand in an area and the economic activity. A new highway will often be a major leading indicator that an area is going to appreciate strongly.
- Demographic trends. If the population of the area you are looking at has been increasing year over year, so has the demand to live in that area.
- Economic activity. If there has been a lot of construction in this area, there will likely be new offices with new jobs available in the area. With more open roles for hire, more folks will want to live in an area within commuting distance.
Doing a bit of homework can really make your returns jump nicely. Most people will just blindly purchase properties based on some sort of tip or because they see everyone else lining up in front of a new condo sales office. Next time you see a lineup outside a new residential development pay close attention - you likely won’t see any seasoned real estate investors. By the time the lineup has already formed, the price is no longer lucrative and it’s too late. If anything, those people in line will be purchasing the new properties from the investors rather than the developers!
I understand that making these investing decisions can be challenging, especially if you don’t have the correct support network to help you make such an expensive investment.
I have been a Real Estate agent for over 3 decades and have helped my clients purchase homes as their primary residence, as a Buy/Fix and Flip investment, a Buy/Fix/Hold and Rent investment, buy builders New Construction and Inventory homes and condo’s and just about any other real estate investment out there.
Please reach out to me, and I can help leverage my years of experience to get you the perfect real estate investment property for you and your lifestyle.
My number is 905-683-7800. Please ask for me, Brian Kondo.
Thanks For Reading Today’s BLOG!
Brian Kondo
Sales Representative / Team Leader
The Brian Kondo Real Estate Team
Re/Max Hallmark First Group Realty Ltd.
905-683-7800 office
905-426-7484 direct
brian@briankondo.com
www.BrianKondo.com
www.BrianKondoTeam.com
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