Red Wing, Minnesota
610 Main St.
Red Wing, MN 55066
(651) 388-4745

Beginner's Guide to Buying Investment Property August 9, 2017

Red Wing, Goodhue
Beginner's Guide to Buying Investment Property, Red Wing, Minnesota

Real estate investing can be a risky endeavor, but it can also provide high financial returns for the property owner. The investment property you should buy, however, is determined by what goals you have for the purchase. In other words, some properties can get you quick cash, while others are better suited for long-term gains. The realtors with Lawrence Realty Inc. in Red Wing, MN, have nearly seven decades of experience helping prospective investors and want to explain how you can buy the perfect property.

Investment Property for Quick Returns

One way to make quick money with investment property is through a wholesale strategy. In a sense, you purchase a property for far less than it’s worth. Then, you quickly sell the same property for a slightly higher cost. The difference in price is the profit you’ll make. Typically these deals are done between multiple investors and require less money from you upfront.

You can also do a quick sell directly to an individual looking to buy a home. In this case, you will purchase a real estate listing at a low cost, invest some of your own money to remodel, and then sell the home for a profit. This practice is commonly referred to as flipping houses.

Investment Property for Long-Term Gain

investment propertyIf you value consistent cash flow over a quick profit, you should consider owning rental property. With consistent tenants, you will eventually recoup what you paid for the home and then some. The only downside is you are usually responsible for maintenance and other unexpected costs.

Similar to a rental property is a lease property. In this setup, you will lease the space to the tenant for an agreed upon amount of time, after which the tenant can choose to purchase the property from you. A main difference between leases and rental agreements is you cannot change pricing or stipulations during the life of the lease, where rental property is typically month to month.

Real estate investing can be a great source of financial freedom. Employing the help of a qualified real estate agent increases your chances of finding the ideal investment property. When you’re ready to make a purchase in Red Wing or the surrounding area, give the professionals at Lawrence Realty Inc. a call at (651) 388-4745. Visit their website to get a head start on your search.

Other Announcements, Events and Deals from Lawrence Realty
3 Tips for Keeping a Clean Home While it's on the Market, Red Wing, Minnesota
Selling your house can be challenging enough as it is, but it can be even more so when you’re still living in it. Between day-to-day messes from young children to pets who shed frequ...read more
5 Red Flags to Look Out For in Real Estate Listings, Red Wing, Minnesota
A lot of people looking for a new home rely on real estate listings to narrow down their choices. While most real estate agents post honest and realistic descriptions, there are...read more
4745 Kingswood Drive, listed below appraised value!  Offered by Jake Dahl and Brady Lawrence at LAWRENCE REALTY INC, Red Wing, Minnesota
Come take a look at this new construction home at 4745 Kingswood Drive! A new, energy efficient, detached townhome with easy access to the Metro area.   Main Level featur...read more
How to Make Your Home Look Better in Photos, Red Wing, Minnesota
Selling your house is a lot easier with the help of a seasoned real estate agent. In addition to guiding you through the listing process, they will also help your home stand out and ...read more
Price Reduction!  1404 Norwood, Red Wing MN offered by  Brady Lawrence of LAWRENCE REALTY, INC., Red Wing, Minnesota
When you are looking over the Real Estate Listings, check out this property at 1404 Norwood Street , which has been reduced to $174,000!  It offers easy access to downtown Red W...read more