Real Estate Investing: Great Advice from Faye Kotsis
Faye Kotsis has many years of real estate experience behind her, which puts her years ahead of the competition. Here she offers some principal ideas that have helped her stay in front, and maintain a solid real estate portfolio.
This is an oldie but a goodie for real estate investors. Chances are you’ll want to do some refurbishment to any investment property that you buy anyway, even if you’re buying a house that looks to be in good condition when you buy it. If you’re looking at a ‘great’ house, but it’s in an area that won’t attract attention from renters or future buyers, you may struggle to ever rent or sell it for the price you have in mind, Faye Kotsis tells us.
However, if you buy a ‘fixer-upper’ that’s in an area which attracts a lot of positive attention from renters and buyers, the money you invest in renovations (or even a complete demolition and re-build) can come back to you easily when the house eventually looks like the other properties around it.
A house that’s surrounded by beautiful homes, in a hip and popular area, will net you better gains any day than a great looking house in an unattractive area, surrounded by unappealing homes and properties.
As Faye knows, the first thing renters and buyers do when looking for their next home is search by area. Even a less-than-perfect house in an area which gets a lot of attention can fetch you a much better rent or sale price than a better looking house in an area nobody wants to live in. With advice like this, it’s easy to see why Faye is a trusted name in property investment.