Where is the best place for you to invest? I believe that all depends on your level of experience. Your first investment you usually do by accident...that is, when you purchase your first home! But beyond that, a favorite vacation destination that you are well acquanted in certainly is a start. Usually these vacation or summer (or winter escapes), are a great way to make your first investment and enjoy for years to come.
Rental properties in a local area would be the next best bet. Something that you are familiar with, areas that you know, schools that you can verify, and it's handy to drive by to check on things. This gives the first time investor a chance to property manage and get a taste of the landlord's resposibilities.
I have found success in grouping smaller numbers of investors in single purchases of properties that they have equal shares in the title and perhaps have a business plan in place to sell for fair market values in a given time frame. They can either rent these properties out, or save them for themselves with visitation rights...similar to a timeshare.
Once you have started with one or two properties, you can expand to other markets, even out of country investments, but be very careful to check out the tax and revenue implications.
You should engage the use of a local realtor that is also a real estate investor. Let's face it, why would you purchase a property from a realtor that doesn't own their own home? Why then would you make an investment with a realtor that doesn't in fact own their own investments?
If you would like to learn more about investing in Real Estate and growing your retirement wealth opportunities...EASY! simply visit http://www.wealthybyinvesting.com/ or call direct at 604-626-5486.
If you wish to purchase investment properties in the Lower Mainland/Vancouver area or in Arizona or Nevada, I have excellent realtor contacts that I use and would be happy to put you in touch with, just visit and email me through http://www.welshfamilysells.com/ or call Top Producing Keller Williams Realtor John Welsh at 604-852-2234.
As long as we continue to apply certain techniques that is not working we will not move forward. An owner should know whether your business grows or not. Make sure that you have a companion that would be of help when times get rough.
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