The real estate industry is undoubtedly drawing in more and more people to take advantage of investment opportunities especially these times when interest rates are plummeting. Sense Financial, retirement accounts consulting company and top Individual 401 k plan facilitator advises investors to know important things before plunging in. There are 5 basic pointers to learn and understand especially for first-time investors regarding ways to fund their investment.
Best Approach and Strategies
You need to decide and determine what particular approach you are going to use as an investor. Choose whether you are a wholesaler, rehabber, buy-and-seller, flipper or a buy and hold investor. Some suggest that holding your property too long in the market could decrease its market value. Others believe that if you are in the right market, buy and hold is the easiest way to build wealth over time.
Best Financial Option – Individual 401k Plan
Knowing the kind of investor you are in the real estate market is just the start of a long-term investment plan. You must also consider how you would be able to finance your investment venture. Retirement plans such as the Solo 401k could help you borrow your retirement savings to fund your real estate investment with the highest contribution limits 401k accounts are known for.
Importance of Networking
It is not enough that you venture into real estate and expect to be successful on your own. You need others to expand your reach or collaborate with other investors to have more opportunities. Connect with other investors through networking for wider reach and bigger investment choices.
Best investment targets
What is the best property with the most lucrative return of investment? Choose low-maintenance property to avoid bigger costs for renovation or repair. Financing your real estate investment with the best Individual 401 k plan is easy but you must also be wise in selecting the right property to invest in.
Best real estate teams
You need to work with a team of professionals in this competitive industry. Work with accounts, lenders, lawyers and financial companies such as Sense Financial offering Solo 401 k plan. This is a reliable retirement account that offers Checkbook Control options so that you can invest your retirement savings without the heaps of paperwork. Individual 401 k plan also allows you to use your retirement funds for real estate investment and other industries such as precious metals without securing custodian consent.