Eddie Patella is someone who invests in real estate himself. One of the things that he has realized in his discussions with people is that most people think that the only way to invest in real estate is to buy homes and then rent those homes out. While this is one of the most popular real estate investment options, it is not the only option available. Read on as Mr. Patella describes a few of the other ways that individuals can invest in real estate opportunities.
Eddie Patella Says Renovating and Flipping Is One Real Estate Investment Option
Eddie Patella states that one of the different real estate investment opportunities is to buy homes, renovate or remodel them, and then flip them for more money. Many people want to buy turnkey houses. This means that the houses are completely updated and move-in ready. While there is money to be made in renovating a home, homebuyers just do not want to deal with this. As such, they will pay a premium for these flipped houses. It is important to know the value of what you are buying and how much renovation costs are going to be to ensure you can flip the home for a profit.
Eddie Patella Explains Investing In Commercial Construction Is Another Real Estate Investment Option
Eddie Patella says that another real estate investment opportunity is to invest in commercial construction. Typically, commercial construction projects involve investments from multiple people. Many people pool their money and fund the construction for real estate commercial projects. When the project is complete, the building is sold and the investors are paid, or the building is rented out and investors get money from the rent each month. Commercial investing has less risk since you are not alone in the investment. However, you also have less control over the project and how money is spent.
Eddie Patella States Vacation Rentals Are Becoming Popular Real Estate Investment Opportunities
Eddie Patella explains that one of the most popular real estate investment opportunities today is investing in vacation rentals, or VRBOs. Purchasing homes or condos in tourist destinations can help you to earn big money. You can rent the home out nightly or by the week to tourists. While this is a great option, you always need to do your research to find out how much vacation rentals go for per night, ensure there is a demand in the city you are considering buying in, and do your research pertaining to local rules and laws that may affect VRBOs.
Eddie Patella states that real estate investing has shown itself to be a great opportunity, as the real estate market has continued to grow and thrive. However, he cautions people to take time to really think about the investment that they are making and what the possible returns may be. While there is a lot of upside to investing in real estate, it is not a slam dunk, nor is there any guarantee that you will make money. As such, you need to always do your research and ensure you understand the risks and the rewards associated with investing in any type of real estate investment.