Build and Expand Your Real Estate Portfolio

10:08 PM RAWAT 0 Comments

Residential and commercial real estate is an attractive investment avenue for many people. It can be an opportunity for large payouts or for steady income streams. Whether you have already been dabbling in real estate or you are looking to get started, here are some ways to help you build a diverse portfolio of properties. 

Fix and Flip Houses

These are a great way to break into the real estate market. It involves buying houses that are run down or cosmetically challenged, fixing them up, and then reselling them at an often substantial profit. Start with cosmetic repairs unless you have experience and resources in structural construction. You will want to find a house that is the least attractive one in a nice neighborhood to make reselling easier. If you have limited funds to get started, you might want to consider a bridge or hard money loan to fund the renovations and some of the initial purchase. Be aware of the repayment terms, since these often are short term solutions. 

Commercial Office Spaces

Buying office buildings can help provide a steady stream of income for the long term. Look for buildings that need to be updated if you have resources to perform those quickly and affordably. Locations that have a good flow of traffic and are in business districts will help attract businesses to the space once it is ready to rent out. 

Multiuse Properties

These are, like their name implies, properties that have multiple types of space and buildings on them. Look for properties that have apartments, townhouses, ore condo mixed with retail and office spaces. If you are lucky, you could find one that has entertainment or sport amenities already in place. It's fine if you don't have experience in event center or country club management. You can always contract the day to day operations to a company that specializes in that so you are able to focus on your real estate development plans. 

Undeveloped Land

If you have the opportunity and means to purchase undeveloped land in a desirable area, you should definitely take it into considerations. Think of the possibilities for the space, and if you want to get involved with a larger project like a residential community, mixed space complex, or shopping mall development. 
There are no quick fixes that are going to bring you extraordinary returns with little work. However, with a careful strategy and diverse portfolio, you help shield yourself from potential losses in one sector and can steadily build a stable income through real estate investing.