When you invest in Knoxville real estate at the right time, at the right price, it is proven to be a solid investment. With the housing market at an all-time low and it being a buyer’s market, there has never been a better time to purchase real estate than right now.
Owning investment property is and should be an interactive business. It is a hands-on investment that will require your time, energy, and money.
The following tips will help you avoid common commercial and residential real estate investment mistakes:
Do’s
Location, Location, Location
Bigger is not always better
Stick with deals that have a 15% return on investment
Stick with homes priced in the low median price range
Stick with a 3 bedroom, 2 bath, 2 car garage single family Knoxville real estate
Keep your rental properties close to home
Use other people’s money as much as possible
Don’ts
Do not buy your 2nd investment property until your first is making you money
Do not buy a home without inspections
Don’t buy a property without title insurance
Don’t rush in
Don’t get invested emotionally
Don’t rely on seller’s documentation
Don’t handle it all yourself
A novice investor may struggle as they try to navigate through the complicated world of real estate investing and purchasing investment properties. Following these do’s and don’ts will keep your head straight and take the emotion out of buying Knoxville real estate for investment purposes.
If you are considering selling your home, be sure to contact us at (865) 290-7585 or email us at info@nxgproperties.net so we can provide you with a Fair Cash Offer on your Knoxville house.
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