The best property to invest in for a first time real estate investor should be one you can afford. Then you have to look at the area you are considering to purchase in. Is the market stagnant, or is there a shortage of housing ? Do you understand the additional costs that come with an investment such as taxes and utilities.
Each type of investment has its own risk and ROI (return on income) and real estate is local specific. You have to look at trends in housing in your locality.
The safest investment would be to invest in a tenancy in common. This is an investment where you are part owner in a shopping mall or apartment complex etc. It is similar to owning a stock. If the investment does well then your ROI will show positive numbers.
I personally would recommend a 2-3 unit building for rentals. You would want to insure you purchase a property that is structurally sound and has a good rental history.
Many real estate investors work with foreclosures or REO's (real estate that has been taken back by the lender and usually has a clean title ). For foreclosures you want to make sure that you can research the property properly or be able to hire a title attorney. You need to research the property to insure there are no existing liens on it, because liens go with the property at most foreclosure sales. The last thing you want to do is purchase someone else's debts.
Make friends with an established Realtor in your area, they will be your best source for your first time investment.
Real estate property manager is responsible for all issues related to Company's Real Estate Management. He is responsible for increasing sales and solving issues between company and its clients.
They are also expected on a wide variety of services that constitutes to all the tenants, landlords, or owners of the property to the property management company.
Following are the features of real Estate:
- No fixed maturity
- Requires Management
- Inefficient Markets
- High Transaction Costs
- Lower Liquidity
- Underlying Tenant Quality
- Variability among Regions