The Single Gal’s Guide To Buying Your First Investment Property In Des Moines

As a woman, I could not be more thrilled to see more and more women getting into the real estate investment market here in Des Moines. Unlike decades past, women that are unmarried are taking it upon themselves to invest in their future and their wealth by developing a real estate investment portfolio. If you find yourself in that same boat of not wanting to wait until marriage to begin preparing for your future, this guide is for you.

How Will You Plan To Finance Your Investments?

The first thing that you need to figure out is your finances and decide how you will pay for your first Des Moines real estate investment property. If you have enough cash on hand, it is likely you will want to pay cash for your first property in order to shave the purchase price down as low as possible and give yourself negotiation leverage. However, if you are going to need a mortgage in order to purchase your first property, it is important that you get to know the different loan products out there and how each of them stands to benefit you depending on how you plan to invest. For example, if you want to specialize in land development, there are special types of mortgage loans that will account for the price of the land, as well as, the improvements that you plan to make to the property.

Establish An Investment Niche & Set Your Goals

Just as in any business, it is very important that you establish a niche in order to develop your strategy and goals. There are several very common real estate investment issues to consider. Depending on how much time you also plan to invest in your properties combined with your prior knowledge and experience, you will likely opt for one of the following niches:

  • Buy-and-hold properties: Otherwise known as rentals, these are ideal for you if you want to generate more consistent income with limited risk.

  • Flips: Looking for larger lump sums? Flips might be more your style. Just beware there is a greater risk involved with flipping properties.

  • Commercial: Sometimes referred to as the wild west of the real estate world, commercial properties can be massively profitable if you know, or partner with someone who knows exactly what they are doing.

  • Multi-unit housing: Considered one of the wisest real estate investments, multi-unit housing offers the best potential for residual income, as well as, profitable equity. However, you will either need to commit full-time or hire someone like a property manager to help you manage the many demands.

  • Land development: Purchasing and developing land can also result in some of the largest profits in the game but are not a short-term solution so get ready to be in it for months or years per property.

Partner With The Pros

You are feeling particularly nervous about this new venture or would like an additional set of eyes, ears, and hands to get you through the learning curve of your first few properties. Additionally, you should definitely hire a Des Moines Realtor that specializes in working with real estate investors so that they can align you with specialized vendors like the best mortgage broker, title company, and attorneys to protect your investment. The last thing that you want to do is cost yourself hundreds of thousands of dollars by making a mistake about something that you don’t know you don’t know.

Want To Invest In Your Future With Des Moines Real Estate?

Comes to investing in Des Moines real estate there is no time like the present. The sooner you get started building your empire the sooner you can retire like a queen. For assistance in developing your customized real estate investment strategy, give me a call today. I will take the time to listen to your unique needs, goals, and challenges to ensure that you realize your full potential as a real estate investor.

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