9/9/2020
Locating Opportunities for Lucrative Real Estate Development | Lane Lowry | Opportunity Zones & Real Estate Development
a Locating Opportunities for Lucrative Real Estate Development by Lane Lowry | Sep 9, 2020 | Opportunity Zones
Real estate development is a lucrative industry, but it’s essential to know a thing or two before jumping in. While many investors and developers are eager to build up their portfolio, it can sometimes be hard to take the plunge on a property. You will often question whether the property is worth the investment, where the up and coming neighborhoods are, and if it’s all worth the risk. Although it can seem intimidating, there are a few tried and true ways to locate lucrative opportunities for real estate development. Getting Started When you rst get started, handle the search on your own before bringing in a professional. It’s easy to feel pressured by an agent and you can get trapped in an investment that’s not right for you. It’s essential to do your own research to nd the right investment and start to narrow down several key characteristics you’re looking for in a property. Think about the type of property, neighborhood, size, and amenities. When you have your ideal property investment in mind, it is time to seek professional help from a real estate agent to complete the purchase. https://lanelowry.us/locating-opportunities-for-lucrative-real-estate-development/
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9/9/2020
Locating Opportunities for Lucrative Real Estate Development | Lane Lowry | Opportunity Zones & Real Estate Development
Location, Location, Location In real estate, location is everything. When getting involved in real estate development, you’re not just investing in the property, you’re investing in the neighborhood too. The neighborhood often determines the type of tenants you will have and even the vacancy rate. For example, when developing a property in a college town, most of your tenants will likely be college students and there be many vacancies every summer. It’s also important to keep in mind that although a neighborhood may be labeled as “up and coming”, certain aspects such as crime rate, public transit, school district, walkability, and more can hinder a property’s value. Consider Property Taxes It is also essential in real estate development to be aware of the property taxes to note how much you’ll be losing. Keep in mind that high property taxes are not necessarily detrimental to property investment since the right neighborhood can attract long-term tenants. However, there are also going to be less than appealing areas with high taxes. Be sure to do your research by stopping by the municipality’s assessment o ce for tax information or even talking to some homeowners in the community.
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9/9/2020
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