In a market with high prices, what’s the best way to find a fairly-priced rental property? On this episode of Investing in Real Estate, I’m answering this question, and more from my voicemail inbox!
Today’s featured questions cover topics like buying a property at a fair price, my thoughts on buying a second property, and what we do at Morris Invest. Click play to hear my answers to your great investing questions!
On this episode you’ll learn:
- What to look for in a fairly-priced rental property.
- What to consider about buying a second property.
- How Morris Invest compares to other real estate companies.
- And more!
What to Look for in a Fairly Priced Rental Property
As always, my advice is to never buy a property above the appraised value. Doing so gives you less equity from the get go, and is going to leave you with a higher monthly mortgage payment. When buying a rental property, always be sure to get an independent, third-party appraisal to ensure you’re paying a fair price.
What to Consider About Buying a Second Property
If you’re considering buying a second home, like a vacation home, my advice is to be wary! I’ve had bad experiences doing this, and there’s often a lot more that goes into it than you might expect.
But if you’re planning on buying a rental property, then yes, it’s a good move! As long as you run the numbers and make sure you can get a solid return, investing in real estate is a great way to set your family up for success. I’d recommend reading my book, How to Pay Off Your Mortgage in 5 Years, so you can figure out the best way to minimize your mortgage payments.
How Morris Invest Compares to Other Real Estate Companies
Our model is unique because our build to rent properties offer great returns, interest rate buy downs, and an entirely passive experience. Plus, we work with third party lenders and third party property management companies in order to give our clients plenty of resources. When you work with us, you own the property 100%, yet our customer service is available to you forever. If you have questions, we’re happy to walk you through our process, just book a call at morrisinvest.com.
Episode Resources
Book a Call with Our Team
How to Pay Off Your Mortgage in 5 Years by Clayton & Natali Morris
morrisinvest.com/bootcamp ← Download your FREE 90-Day Bootcamp!
Subscribe to Investing in Real Estate on Apple Podcasts
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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