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Real estate is generally a great investment option. It can generate ongoing passive income and can be a good long-term investment if the value increases over time. You may even use it as a part of your overall strategy to begin building wealth.
However, People often assume that investing in real estate is a one-way ticket to wealth and success. There are countless books, blogs, and YouTube videos that tell you this. But what are the drawbacks to real estate investing?
These are some things to consider prior to deciding to purchase investment properties.
 
 
START SMALL
Some real estate investors begin by purchasing a duplex or a house with a basement apartment, then living in one unit and renting out the other. This is a good way to get your feet wet, but keep in mind that you will be living in the same building as your tenant.
Additionally, when you set up your budget, you will want to make sure you can cover the entire mortgage and still live comfortably without the additional rent payments coming in.
As you become more comfortable with being a landlord and managing an investment property, you may consider buying a larger property with more income potential. Once you own several properties, it becomes easier to purchase and manage more properties—and earn a greater return on your investments.
 
BUILDING WEALTH ISN’T INSTANT
The first thing to know about real estate investing is that building wealth takes time. Don’t expect to buy your first rental property and instantly be rolling in the dough. Rental homes cost money and even when you have tenants consistently paying rent, you will still have expenses and a mortgage to pay off.
Real estate investing requires you to play the long game and be patient about building wealth. This is especially the case if you are in an appreciation market, like San Diego. This means the value of your home will increase over time, but you may not be bringing in a substantial amount of cash each month from rental income.
 
IT CAN BE EXTREMELY TIME CONSUMING
Owning and managing rental properties is a time consuming task, especially depending on how many you own. Keeping track on tenants, maintenance issues, and lease renewals can quickly become too much to handle, resulting in more stress for you and less time doing enjoyable activities.
 
THE RENTAL MARKET
There are many factors involved in renting a house that you may not have experienced before. For one, the market can change greatly based on time of year and the neighborhood the property is in. For example, if you’re renting a 5 bedroom home near a college, you need to put the property on the market in the summer months when students are in dire need of a place to live. Attempting to rent in the fall or later can result in you having to lower your rent price and experiencing a longer vacancy.
You will also have to learn how to price your home correctly. Many owners are only concerned about getting the absolute highest rental income they can. While we would all like to earn enough to pay the monthly mortgage payment and then some, pricing your home too high can cause a plethora of problems. It takes a good amount of market research to learn how to set the best rental rate and get quality tenants.

 

1. Start with friends

If you have a friend who's also looking for someone to live with, that's a great place to start. But know that being friends doesn't mean you'll live well together. Let your friend know your habits and decide if it will be a good fit. If it's not, ask them if they know anyone else who's looking to live with someone like you. Remember, the roommate relationship isn't always built on friendship.


2. Take your search online

You can also check out search engines to help you widen your roommate search. Sign up, complete your profile, take the quiz, and find the perfect match for you. You can then pick a roommate and send your submission to your individual school. It's a fool proof way to find someone you think you might actually be able to live with. You can always opt to go random and have your college select a roommate for you too. Sometimes this works out better than you could have ever imagined though sometimes it doesn’t. It's definitely the easiest option, but it can be stressful.
 


3. Give Facebook groups a try

If you’re on Facebook or Instagram, you may have come across numerous student-run university groups after you updated your education on your profile page. Student organization pages are popular platforms to meet other students, especially for those seeking a roommate to split the rent and utilities.
 


4. Engage in off-campus housing programs


Maybe you’ve already moved in, but you still have that spare bedroom sitting empty. While the quiet is nice for studying, you’d much rather have someone who can pitch in for rent. Many off-campus apartment communities have programs and events to entertain their residents – especially on game day eves. Attending these events can provide you a place to mingle with others who may also be looking for someone to rent with.
 

5. Make a roommate qualities list

You'll never know what type of roommate you want until you do some self-reflecting. Are you messy? Are you clean? Do you get annoyed when things are left out? Are you quiet? Do you like to come home late from parties? Make a list of your own habits and use that as a guide in your search. It is unlikely that you'll find someone who meets all your criteria, but creating a list of what's important to you is a good starting point.
 
The endowment of giving season has officially arrive. Here are the best things to donate to Holiday drives


During the holidays there are many ways to be charitable, including donating to drives that collect food, items, and toys for the homeless. Giving back is important, but all those canned pineapples and piles of forgotten T-shirts aren't really doing the trick. Here are some other items besides food that you can donate:


Give a Variety of Food Items – Shelters need non-perishable food items for the holidays, but that doesn’t mean all canned soup. If you’re donating, give a variety of different types of canned, jarred and packaged food, pasta, rice and other non-perishable items that a family can use during the season.

Toilet Paper – This item isn’t the first thing to come to most people’s minds when they think of holiday donations, but shelters can go through as much as 20 rolls a day. In addition to your food donations, check with your local shelter to see if they are need of toilet paper and other toiletry staples.
 
Old cellphones - If you're on a regular cellphone plan, chances are you upgrade your device for a  every year or two. Instead of piling up devices in a drawer, consider donating all but one backup phone. Your old phones still have a little life in them for people who can’t easily get an upgrade or don’t have a phone for emergencies.
 
Small bottles of bath essentials - Bathroom products such as shampoo, conditioner, shower gel and deodorant are toiletries many of us take for granted. Small bottles save space and make it possible for someone without regular shelter to stay clean while relying on public rest areas for bathing. Just make sure the products you purchase still have an intact seal.
 
Clothing in Larger Sizes – XL and XXL sizes aren’t donated nearly as much as small through large. This leaves a group of people not able to benefit from well-meaning donations.

 
 
Sorry, Winter is already here. If you are like us you are probably freezing when you go outside and need layers of clothing to keep you warm when you are at home. However, sometimes wearing all the clothing you can find doesn't always sound right. So here are 5 tips you can use to keep your home warm and cozy in your home.
 
  1. Hot-water bottles
Splurge three or four pounds now and you’ve got the ultimate snuggle buddy to see you through the rest of the season. Once you’ve spent the night with a hottie, you don't go back.
 
  1. Use the Oven to heat the house
Once dinner comes out of the oven, we all close the door again. But why waste that heat? Leave the oven door open and let the heat transfer slowly into your kitchen, it’ll help keep your house warm while you eat. And, naturally, keep the kids away from the door.
 
  1. Get a mini heater
If you don’t want to heat the whole house when you’re the only one in, you need a portable heater. People give away things all the time on Freecycle, you just have to keep your eyes peeled and act fast. Remember to research the mini heater first before purchasing as some consume a lot more energy.
 
  1. Close the curtain and the Doors
You won’t be surprised to learn that lots of warmth escape from your home through the windows. If you’ve got curtains, close them before darkness hits or while you’re out of the house and keep that lovely heat where it should be – inside. Better still, get yourself a pair of thermal curtains. Doors are there for a reason – to stop draughts. Close them when possible to keep warm air in and cold air out.
 
  1. Light some candles
It sounds silly but you’d be surprised at the amount of heat candles generate. Plus, it sets the mood for an evening, so stock up next time you’re at the supermarket.



 

As a renowned Property Management Company, we have grown our reputation to be known for providing an efficient fast and reliable services in managing properties for all our landlords.
With the use of our social platforms which supports us in the process of advertising our properties, Our tenant’s personal requirements and expectations can easily be met within a short space of time as we provide a broad range of homes and accommodations for students, professionals, families, graduates and undergraduates.


We also incorporate Platforms such as Rightmove, On The Market and Blue I Properties website in order to advertise our properties. Because of this, we have had continues success in viewing a new property, advertising the property on the market and have people book to view the property within the time period of a week.

Engaging with our tenants through the use of social media platforms has also helped with increasing our customer satisfaction. This has had a positive effect as word of mouth from our current tenants about our services has pushed others into acquiring a home with Blue I Properties.

 

 









Our excellent service alone is one of the driven force that continues to drive people to view our properties within 24hrs as we update property information on our websites and add new information to give our viewers an experience of the property before deciding to view the property and after viewing the property with the use of our virtual tour.

With over 50 years of experience in this industry, Blue I properties has grown to be known as Derby friendliest letting agent with our current tenants letting us know we would be their first property management company to go to within Derby if they require a new home as they do not receive the same problem their friends and family have had to go through with other property management company.

With such positive feedback coming back from our current tenants and landlords, Blue I property future as the go to property management company to manage your property and rent a property within Derby seem secured.

 

 


These great inclusive deals are on a first come first served so please give us a ring on 01332 371661 or get in touch via email or come into our office on Ashbourne Road opposite the energie fitness gym to save lots of money and arrange a viewing. Let us know your budget and we will see what package we can design specifically for you.

You can rely on us

01332 371661

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