Win property investing

Think about returns as a ratio to capex The trick to excellent cash-on-cash returns in Monopoly is stabilizing your investments. A stabilized asset is one on which construction or renovation is completed, and which yields enough revenue to sustain debt service.

That means you want to be the player with the biggest margin of error which basically means most cash in the bank. What does that mean? Red and orange properties are some of the most likely to be landed on, and offer some of the most competitive returns on investment. Keep risk under control Nothing in Monopoly feels worse than slowly amassing properties, earning income, becoming a formidable tycoon in your own right — and suddenly, all your hopes at sweet victory are dashed by an improvident roll that makes you pay the highest rent on the board.

Incidentally, these strategies are also where the analogy to real-world real estate investment completely breaks down. Nobody likes the slammer, but if it keeps you from paying rent for a few turns, it can make the difference between victory and defeat. You have to make it yours. Maybe you have always wanted to own a multifamily property or have driven past a property hundreds of times on your way to work and always dreamed of owning it.

These are the thoughts that go through our heads and often lead us to dream our way into an investment. Sometimes gut instincts are right. They can lead to good decisions. They can also lead to very bad decisions! Rather than paying attention to how you feel about any given deal or property, there are objective points that will help you know if an investment property is poised to bring you a solid stream of passive income or not.

Objectivity is not something often talked about here on BiggerPockets. The ability to be objective when so many decisions are made from emotion is a very tough skill to learn. There are a ton of great articles on how to be successful and how to pick great properties and great deals, and this one may not be that much different.

However, I want to make it different by focusing on being objective and simply going after deals based on a few simple questions. The neighborhood is good. A good neighborhood is paramount to the success of your investment. Not only does that mean little things like good neighbors and a lack of eyesore properties, but it also means things like proximity to attractive amenities and places.

Colleges, medical centers, areas with shopping and businesses — these are bonuses that can all attract a larger pool of tenants. The area rental prices make sense. When you compare rental rates in your area, will you be able to fairly charge your tenants while still making enough of a profit after maintenance, management, property taxes, and other expenses?

Remember that a great property management company can absolutely out-perform the marketplace. Keep a close eye on rents and remember to choose the best management possible. Management can be the difference in rent performance. The inspection checks out. Always have a property inspection — even if everything looks great, sounds great, and seems great. Third party inspections are a great way to build trust in the deal.

If a company discourages inspections as a policy, regardless of reasoning, consider that a reason to question the deal. Crime statistics give a positive outlook. Sometimes, crime is evident. Go to the police or public records to see if you can identify various types of crime rates, everything from petty crimes to more severe, violent crime.

Obviously, safety is a big draw for tenants, and crime is a repellent. For you, crime rates also pose a danger to your property: Vandalism, break-ins, property damages, and even squatters can pose issues in high-crime areas.

Minimal repairs and renovations are required. That said, certain properties will demand more work than others. Many investment properties tend to be older, and that can be good and bad. Some old-fashioned architectural styles are back in vogue, charming, and even desirable — while others, not so much.

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If so, why are some pessimists still questioning the rebound […] Value-added Solution to Extend the Life of a Roof Ensuring that a house has good roof is always a top priority in a renovation. In cases where a replacement is obviously needed, the decision to commit the required budget is clear. However, many houses have roofs that are mid-life and still in good condition.

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