3 Tips for Real Estate Investors to Make the Most of this Recession
The world, collectively, is facing an economic crisis. We are in one of the worst global recessions in recent times.
The economic uncertainty has peaked anxiety of all, including the real estate investors.
However, at the same time, those pro in the game are striding fast to tap on the emerging opportunities.
If you’re a real estate investor yourself, follow these three tips to make the most of this economic contraction:
1. Crowd-source fund to invest in premium properties
For regular investors, the luxury and premium properties (including the commercial ones) are often not within the reach.
Fortunately, now the price of these properties might come down owing to the current economic condition. So, it’s a good time to make your move.
Even still if the price is too high, you can crowd-source funds with other retail investors to invest in such high-end estates.
These days the top real estate investment companies, offering a wide range of services, also help clients to pool funds. So, you can contact them and find more investors like yourself.
2. Focus (more) on rental properties
Millennials prefer renting over purchasing homes.
According to a survey by Freddie Mac, 82 percent of renters say renting is more affordable than homeownership, despite the increase in rent.
“I think millennials ultimately aspire to have homes. I think it’s still the American dream, but I call it the dream deferred and it’s deferred because of student loans, the lack of having a large amount of equity, and they also enjoy flexibility versus fixity,” said the CEO of The Bozzuto Group, as quoted by CNBC in an article.
The demand for rentals is clearly high – and continuously rising.
Moreover, with the recession in action, rentals would become more appealing than purchasing a home.
So, if you haven’t already, shift your focus more on rental properties.
3. Consult any of the top real estate investment companies
These are challenging times with plenty of uncertainties ahead.
Even a pro real estate investor may find themselves lost in the chaos. After all, while there are opportunities in the market, the risk is just as much.
So, instead of doing it all by yourself, consider working with one of the top property investment companies. Talk to their experts, communicate your investment goals, and outline a plan to move forward.
These are three tips for real estate investors to make the most of this recession.
Of course, there would be challenges on the way. But with the right strategy and approach, you can certainly ace your game and amplify your portfolio.