Home » Finance » Investing

Things to Consider When Investing In Real Estate

Jun 9, 2008
Real Estate is an excellent investment for anyone who has the time and money to invest. It is a wonderful way to create that lifestyle that you imagine for yourself. With very little money and good management, you may be able to set your financial future.

Many people today are choosing to invest in real estate because of the huge potential for profit however many are hesitant to purchase a traditional home because any type of maintenance or repairs that the home needs reduces the amount of profit that the investor can make.

The alternative to purchasing a traditional home is to purchase a condominium. Although condos are not suited for everyone, many people have found that it is much more cost effective and fewer hassles than a traditional home.

Certain areas of the country are rich in real estate potential. Real Estate condos in West Virginia for instance can be one of the most profitable areas in the country because of everything that is offered in that area.

When the property is first purchased, many owners reside in it to make sure that everything is as it should be, and if upgrades need to be made, they can make the renovations that are needed to sell the property at a profit. The kitchen and bathrooms are rooms that will either make or break a sale.

An alternative to selling a condominium after it is renovated is to rent it out to tourists. If the area that you purchase your condo is high in tourism, then you can make a substantial profit by renting it on a weekly basis.

It is important to check with the condo association before you make your purchase to insure that the rules and regulations allow you to rent it out. Some associations have rules against time rentals and it is important that you determine this before you purchase.

A condo association is a group of people from the condo community that make up the rules and regulations for community to abide by. When you purchase a condo, there will be monthly fees that are required along with your monthly mortgage and bills.

The fees cover all maintenance and repairs for all condos in the community and can seem like they are quite expensive, however when you take into account what the cost of landscaping, snow and leaf removal as well as roof and furnace repairs are, you may find that the fees are quite reasonable.

Setting the fees for a rental condo depends on the amenities that the community has to offer. Often times, a really good condominium community offers laundry facilities, a swimming pool, and even fitness centers.

When you have any of these amenities, you can basically set the rental rate at anything that you want because there is a high demand for these types of facilities.

Condominiums are an excellent way to break into the real estate investment field. They cost less than a traditional home and can increase your resale profit significantly.
About the Author
Peter Geisheker is the CEO of The Geisheker Group marketing firm.

Peter develops and implements strategic marketing programs for businesses including real estate developers and West Virginia real estate .
Rating:
Please Rate:
(Average: Not rated)
Views: 154
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources