Now is an excellent time to invest in Greenville real estate, due to the strength of the market. Investing in real estate can be a lucrative way to inject a steady cash flow into your finances, provided you are ready for the responsibilities that go along with it. Your options for investing in real estate range from simple and low-commitment to more involved and high risk. The Parker Group is here to help with whatever level you’re interested in.
Take some time to learn more about the ways you can take advantage of this growing market.
Real estate investment trusts (REITs), allow you to invest liquid capital for a trust or corporation to purchase property with. One of the simplest ways to think about buying REITs is to compare them to buying shares for company stocks. As the property appreciates and earns more for the REIT holders, you will be paid dividends that reflect your level of investment in the property. Best of all, someone else handles the property management, maintenance, tenant screening, and all of the other aspects of owning investment property you may not be ready for.
Buying REIT’s is a simple way to get involved in the real estate investment process, but there are a few things to know before jumping in. There may be some fees involved. Also, you will have essentially no control over finding new tenants if the property sits vacant for some time. Finally, similar to stock investments, you want to work with an investment manager you trust because unscrupulous actors can wreak havoc on your financial portfolio.
Consider renting out a room
Another avenue for dipping your toes into the water of real estate without total commitment is to rent out a portion of your home through a service such as Airbnb. It’s usually quick and easy to find someone because you don’t need to look for a long-term renter, and the Airbnb platform grants you some protections and services as a host. The money is all handled through the platform, so you don’t have to worry about confronting the person in your home if they are late on the rent. However, do be aware that you will be responsible for taking care of household repairs like a traditional landlord.
Invest in rental properties
If you’re prepared to go all-in on real estate investment, owning one or multiple rental properties can be very rewarding. Not only can you gain a stable stream of income from rent, but your property will likely appreciate over time and you may be able to take advantage of certain tax-deductible expenses.
With Greenville SC real estate going strong right now, you will have many opportunities available to invest in this booming area. The first step in your investment plan should be to work with a Greenville real estate firm that is home to area experts in the investment economy, and the agents at The Parker Group are ready to help you find the best investment options for your financial needs. Contact us so we can help you invest in Greenville property the smart way.