Denver Realtor Cory Schwab, of New Era Realty, lists the top three tips on how to boost returns on investment properties.
Buying an investment property can be an expensive and challenging process. For those considering taking the plunge and entering the rental business, Schwab, who has over 13 years of experience in the real estate industry, shares the following three tips on maximizing return on investment (ROI):
No. 1: Do your research and work with an experienced agent. “I like to make sure my clients have a return on investment immediately, not buying a property and hoping for appreciation in rent or value,” noted Schwab.
No. 2: Buy where people want to live. There are areas of each city that are easier or harder to rent, respectively. “Ensure you know where you are investing and you can get the rent you desire,” added Schwab.
No. 3: Look for buying opportunities and don’t be in a rush to buy or sell. Developers are building mostly high-end product, which means high rent. “There are opportunities to buy condos and rent profitably at a much lower rate than new builds,” concluded Schwab. “Keep it for the long-term – in the past 30 years, there has been no seven-year period where the Denver Metro market has not seen gains.”
Cory Schwab of New Era Realty in Denver works with a full spectrum of clients, from first-time buyers to investors purchasing multi-unit properties. For more information, call 303.922.9222 or visit schwabre.com. New Era Realty is located at 2563 15th St., Suite 101, Denver.