Advice for new real estate developers
Here’s an interesting article with advice for new reat estate developers. This was the most interesting part to me:
One way to begin is with four-unit rental properties. These properties can be financed with 20 percent down payments and single-family mortgages. If your credit history is good, you should be able to obtain financing at attractive terms.
You should be aware, however, that such property in the D.C. area is currently rather expensive to buy relative to the rental income it generates. Prices are much lower in Baltimore, Philadelphia and Richmond, but managing properties from a distance can be difficult.
Some actual numbers would be helpful here, but it’s good to know which markets show better rental income relative to your investment.
If you are moving to Colorado then some Colorado real estate resources could be very helpful, like a Colorado home finder or various other tools and articles on real estate in the area, whether you’re interested in Denver real estate or some other areas.