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Everything You Need to Know About Becoming a Real Estate Investor in Bellevue

Everything You Need to Know About Becoming a Real Estate Investor in Bellevue

It's widely known that real estate can a very lucrative investment.

From flipping a house to renting out office spaces, if you do it right you can make astounding profits on real estate. As Andrew Carnegie, a famous billionaire, once said, 90% of all millionaires made their money by investing in real estate.

With so much money just waiting to be made, it's no surprise that there are always people looking to invest. If you're thinking of investing in Bellevue, make sure you know all there is to know before jumping in.

Read on for our guide on how to become a real estate investor.

Why Invest?

Becoming a real estate investor takes a lot of work, knowledge, and risk, so why do it? Why not just look to stocks, bonds, and mutual funds instead?

Real estate offers a very different opportunity for your money than other investments. It has more predictable cash flow and appreciates in value. Real estate is one few assets where you can use leverage.

It's also an investment you can improve. Because real estate is a physical thing, made of bricks, mortar, and glass, you can work to make your investment more appealing and increase its value. This leaves the increase in worth largely in your hands, which is nice to know when you're investing money.

If you think investing in real estate is the option for you, take a look at our tips for how to invest in property and keep your money safe.

Tips for How to Become a Real Investor

As with anything that's taking a large chunk of your money, it's always a good idea to know what you're getting into and how to do it properly before diving in at the deep end. Here are some must-know tips for how to make money from a real estate investment.

Sort Out Your Finances

A real estate investment is expensive, so make sure you have all your finances in order first. Make sure you have the cash ready for a down payment or to buy the property outright without cleaning out your bank account.

Alongside your initial investment, keep a fund for any works that need to be done, such as improvements or fixing sudden and unexpected issues. You should also have an emergency fund for your life in case anything goes wrong, and all of your money is tied up in a house. This can prevent extra debt and stress in your life.

If you can pay off existing debts before investing, this is highly recommended. It'll put you in a much better financial position to make the most of your investment.

Keep Things Simple

If you're looking to become a real estate investor, your first investment doesn't have to be big and bold to work. In fact, the best way to invest is to start small and work your way up, picking up knowledge as you go.

On your first investment, keep it simple and try to keep costs as low as you can. This'll reduce the risk and increase the rewards, helping you get off to a good start in terms of investments. The last thing you want to do is go too big and rack up a ton of debt, which isn't what investing is about.

It Doesn't Have to Be High-End

If you're investing in a mid-value market, don't install high-end features. The property just doesn't need them! Keep the space looking clean, well-designed, and create a canvas for prospective buyers or tenants can work with.

To stay on track, always budget when re-doing your property.

Find a Property Manager for Real Estate

If you don't have the time or know-how to manage your investments, a real estate manager can be vital. They have the knowledge and time to oversee your properties and keep everything running smoothly. Just make sure you factor this cost into your initial finances!

Know the Housing Market

If you're thinking of investing in Bellevue, it's crucial you get to know the market. Analyze price history, look at price projections, and talk to real estates in the local area.

If you live in the neighborhood you invest in; you'll have a better idea of what people might be looking for in a property, including space and design. If you don't, try and talk to some locals about what people want. Do in-depth research before you invest, and it'll pay-off in the long term.

If you're looking at Bellevue, we've got some market insights that you can check out.

Get to Know the Bellevue Market

Bellevue is a lucrative area for real estate as its house prices have been consistently rising over the past few years. It's in driving distance to Seattle and Redmond, and an excellent talent pool has propelled the market as our world becomes more focused on tech.

In 2020, Bellevue house prices are likely to increase. The current average price is $944,206, which is expected to rise to $963,118 in 1 year. In 5 years, a profit of 14.9% on current investments is expected.

It's a stable, low-risk area to invest in. The market is largely focused on families and those working in successful businesses that are in commuting distance of the area.

Bellevue Downtown Real Estate

Ready to Invest?

If you do the research and know your market, real estate investment can be a great way to make more from the money, you have. If you think you're ready, Next Brick is here to help. Our team of experts can help manage your investment, protect your money, and get you the return you're looking for.

If you want to learn more, feel free to get in touch with us today.