Real estate strategies for investing, lease options
You may have already heard someone said that real estate investing strategies and to consider lease options to get started are great. This is a desire of a lot of people but it really takes an important investment
However, having the money is not the only thing you should consider. In order to know if the investment will have a good result, we need to analyze some factors like the area because this will determine the rent you’ll get.
If you determine that the money rent will be enough for you there are some other things to think about.
The lease amount should be based on the value of the property, this value is determined by the zone where the property is, and it is recommended to have an agent and a professional consulting to determine the demand of the neighborhood.
On the other hand, take into account the maintenance quote of the property and the risk of the renter not paying on time the rent, a leasing contract will be very helpful in order to avoid this.
All legal aspects should be in order and reported to the IRS. Having a good control of every expense will help you to reduce some taxes.
Salomon Juan Marcos Villarreal a successful businessman from Mexico said that real estate in Mexico is not having a good season right now but lease options are good enough to have a plan B for our economy. “The only thing a suggest, is to have all papers in order and make sure all services are paid in order to avoid a big debt when the lease contract is ended, I have learned that all legal aspects should be in order always”, said Salomon Juan Marcos Villarreal, president of Grupo Denim.