Realistic Investment Savings for Your Palm Springs Real Estate Investments
Real estate investing is a worthy consideration, especially with changes in the value of the dollar, and the unstable grounds of our current economy. But before you can invest you must determine how much money to save for your investment. Your goal amount will be based on various factors, including your answers to the following questions:
- Are you investing in residential or commercial property?
- Are you purchasing a rental property, or do you want to invest along with others?
- Do you want to invest using a Real Estate Trust?
- Are you looking for a long-term or short-term investment?
Many investors choose real estate investing to diversify their portfolios and become less reliant on the public market of stocks and bonds. It boasts long-term investing driven by local supply and demand, property value upgrades, and growing or changing demographics.
Whether investing in residential or commercial real estate, Done Deal Real Estate Investments can help you reach your goals. Our team of Palm Springs investment experts is here to provide the opportunity and guidance you need to invest the way you want to.
contact the professionals at Done Deal Real Estate Investments.
Residential Real Estate Investing
When saving for a residential property investment, it is smart to plan for the amount you want to use as a down payment, with additional savings for renovations or repairs. The amount will depend on the type of residential investment property, where it is located, the size, and the current state of the property.
Things to consider for residential investment properties:
- You own the property, so with or without tenants, the mortgage must be paid
- You’ll be responsible for repairs, remodeling, and any other issues
Residential real estate investing can be a wonderful choice and an option that is fun for investors who want to get their hands dirty.
Commercial Real Estate Investing
Commercial properties may be a better option if you want to be hands-off, as commercial real estate is historically managed and maintained by management companies rather than investors. Commercial real estate tends to be a bit more stable of an investment, as well. It allows you to be a passive investor with no involvement in actual project management.
When investing in commercial properties, you can choose between new building and redevelopment or property, with investment property including:
- Retail properties- grocery stores, clothing, barbershops, and salons, toys, other retail storefronts
- Office buildings- regular tech and administrative offices, doctor offices, dental, and other office spaces
- Multifamily residential properties- residential property with over 4 units
- Industrial buildings- warehouses, factories, distribution centers
- Special purpose- senior living, stand-alone banks, self-storage, car washes
Planning to invest in commercial real estate, and saving the subsequent dollar amount, will vary widely, as you have several options for the level of investment you make. From as little as $1,000 to invest in Real Estate Investment Trusts to several hundred thousand dollars to use as a down payment on a commercial building, your investment amount is up to you.
Invest in Palm Springs with Help from Done Deal REI
At Done Deal Real Estate Investments, you can count on no-nonsense guidance and step-by-step investment management for your real estate investments, from opportunities in the commercial space to rental properties you can use for Airbnb, our team is here to help. Let us make your investment dreams come true.
