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As an investor or developer, you should feel empowered to build wealth in multiple avenues of real estate. Investing, renovating, and managing multi-unit properties can enable you to bring in a consistent cash flow from tenants, thus making money while you sleep.
What To Look For
One of the major focus areas for House Heist is to build good neighborhoods. While the people are the foundation for a good community, the homes define community standards and identity. Consider these tips as you begin your process to build wealth in real estate:
Interest: Scout areas of interest and areas that are appealing to revitalize.
Older Communities: Survey older communities because opportunity is likely present.
Small Multi-Living Units: Explore properties with ten to twelve units. These can be less difficult to manage and it will generate consistent income.
Once the property is acquired and assessed, build out a sustainable renovation budget that will allow changes that today’s tenants will seek. Note that the investment will be larger but think of the opportunity that you will have to consistently build wealth with little to no daily exertion from you or your team. Renovate, Revitalize, Populate, and Make Money While You Sleep.
“When Opportunity Knocks….Answer!”