Information and Advice on Property Related Matters
If you are ready to make an investment outside of small, run-down residential properties, you may want to take a look at expanding your view. For example, you could find out what waterfront properties are for sale. These could make great investment properties by finding a mediocre property and turning it into a play ground for the rich. Even just fixing it up a bit and adding unique and personalized services can up your nightly price substantially.
There are lots of different types of investment properties outside of the small residential category, but many of them require more money to finance a larger mortgage during the rehabilitation process. If you have networked in the investment properties business, you may be able to form a partnership with one or more other investors who may be slightly more established in their business. More money means bigger projects and a large profit.
Even if you cannot partner yourself with someone already in the business of investment properties, you could also find someone just wanting to start out who also has the additional cash flow you need to step into the next property tier. This will allow you to grow your business together, slowly getting bigger and better properties that allow you to resell for more money.
In the end, if you are comfortable with small residential investment properties and are satisfied with the cash flow they bring, then you have found what works for you. However, if you’re itching to branch out, finding a partner could help you achieve your dream sooner.