New to investing? Let's find out what the best strategy is for your real estate investing journey!
Take the quiz to learn more!
You're ready for a project with a quick return. You want to dive in, get out your demo clothes and go to town. You understand that you have a lot of work ahead of you and you know that there's a big risk in taking on a fixer-upper, but you're ready to take the gamble. You have the capital, a line of credit, or a financial partner and you want to be involved every step of the way.
You're not looking for a quick return. You'd rather hold on to an investment over time and allow it to appreciate in value while having someone else (ie. renters) pay the mortgage. You know there's still risk involved with rentals but you're ready knowing that it will allow you to build wealth over time. You know a rental property can still require some sweat equity and a 20% down payment and you're ready to put in the work.
You have a line of credit, a construction loan or a financial partner and you're ready to build a spec house. You know there's still a level of risk involved but you've calculated what it will cost, what you can sell it for and you're ready to pay a general contractor to build it. You don't want to be involved in the day-to-day work other than taking on the financial risk with a potentially quick turn around on your investment.
You're just starting your investing journey and you're not quite ready to dive in with both feet. Instead, you have a down payment saved up and you're ready to buy a home to eventually turn around and sell, in the meantime, you'll take advantage of the tax savings by living in it first. You're ready to roll up your sleeves and build some sweat equity into your home knowing that eventually, you'll get a return down the road.
How risk averse am I?
How much capital do I have access to?