In the increasingly pricey Bay Area, what options do those looking to invest in real estate have?
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Here in the Bay, prices are skyrocketing. Sellers are seeing multiple offers way over list price, and some potential investors feel as though they are being priced out of the market. Given that, what is the best way to invest in real estate? What options do people have? I would like to share two ideas with you today.
- The best investment property for you could be the house you are living in. If you bought the house a few years ago when interest rates were lower, you might have accrued some savings by now that would allow you to buy another house and keep the one you are living in.
- Purchase out of state. We have a large network of agents all over the country and the world who could help you find an area to purchase an investment property. Additionally, we can help you find a property manager to handle the work. However, before you hire a property manager, you want to assess whether or not it makes sense to in terms of the rents you will receive, what you will pay in property taxes, as well as the various fees you will be charged for the service.
If you have thought about investing in the Bay Area but have been put off by high prices, or if you have questions in general, feel free to reach out to me. I can connect you with agents from all over to talk to them about investing in their areas.