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  • February 2, 2023
You are here: Home / Peggy's Pointers / Getting Started in Real Estate Investing

Getting Started in Real Estate Investing

March 17, 2022 By Office Staff

1

It seems like more and more people are investing in real estate lately. Is this the right time to try it for yourself?

If all goes well, investing in property can help you build wealth and generate passive income.

But this endeavor requires careful planning, of course, and not everyone is able to achieve the profits they’re looking for.

Are you considering venturing into the world of real estate investing? Here’s what to consider before getting started.

Define Your Goals

Are you looking for passive income? Long-term wealth? Or do you want a place you can rent out and occasionally use for vacationing? Your goal will ultimately determine the best investment strategy to pursue.

Set a Budget

How much can you afford to pay for the property? What about maintenance, repairs and other monthly costs? Have a good idea of the financials — both upfront and for the long haul — before making any moves.

Consider the Location

Real estate is all about location. You’ll want to choose where you purchase carefully, looking at market data like prices, rents and booking rates. (Reach out for help gathering this information.)

You should also consider how often you’ll need to be at the property. Will you need to pop by for repairs, or can you hire a property management company to do the work for you?

Prepare for Potential Challenges

There will likely be hurdles along the way, so do your best to anticipate them. What if a tenant stops paying rent or a short-term rental guest trashes your home? What if the property needs a big repair and you don’t have the cash? Create contingency plans for any issues you can think of.

Ready to find the perfect property to rent out or flip? Reach out to discuss what you’re looking for.

Filed Under: Peggy's Pointers

User Goodies

Property Search Alerts

Click on the image above and complete the questionnaire, then Holdren & Associates will provide you with an email alert based on your personalized search criteria.

Click on the image above and complete the questionnaire, then Holdren & Associates will provide you with an email alert based on your personalized search criteria. We will set up a search with your personalized search information which will be emailed to you daily as changes are added to the Champaign County MLS (Multiple Listing Service) for instant, up to date information. This search function gives you access to new listings, price changes, sale pendings, expired, and withdrawn listings at the same instant that those property updates become available to area REALTORS®. Your favorite properties can be saved to your inbox so you can monitor pertinent changes for example a price reduction. All this information at your fingertips.

Find Your Home

Quick Search of the Champaign County Association of Realtors Multiple Listing Service (MLS)

Click the image above to begin performing a "QUICK SEARCH" of the Champaign County Association of REALTORS® Multiple Listing Service (MLS). This search function gives you access to all properties via MLS number, street address, property type, price, town, and even style of home. All this information is accessible to you at the same instant the properties become available to area REALTORS®.

Free Market Analysis

Curious to know what your home would sell for in today's market? What you see online may be wrong.

Curious to know what your home would sell for in today's market? What you see online may be wrong. Click on the above image to get started, Holdren & Associates would be happy to provide you with a professional and detailed analysis. Allow us to help you start the listing process today.

Mortgage Calculators

How much can I borrow?
How much will my payments be?
What house can I afford?
Which is better: 15 or 30 year term? Click on the image above for a very thorough group of calculators to help you decide.

Have you ever asked yourself these questions? How much can I borrow? How much will my payments be? What house can I afford? Which is better: a 15 or 30 year term? Click on the image above for a very thorough group of calculators to help you decide.

Help Me Relocate

Whether you are moving to or from the Champaign County and surrounding areas, we will work closely with all lenders, attorney's and inspectors to facilitate the timing of your home sale or purchase so that your transaction will be effortless.

Click on the image above and complete the questionnaire. Whether you are moving to or from the Champaign County and surrounding areas, we will work closely with all lenders, attorney's and inspectors to facilitate the timing of your home sale or purchase so that your transaction will be effortless. Even if you are moving out of the area, we can assist by hand selecting your new destination realtor to ensure quality service. Let us help take the angst out of relocation!

Ask Us...

You got Questions? We got Answers...

You got Questions? We got Answers... Want to know about the real estate process, how to begin your search, closing costs, buyers costs, how to get prequalified, what about lenders, attorneys, inspectors, painters, moving companies etc., etc...We have all the answers to ensure a smooth transition whether you are coming or going in the Champaign County and surrounding areas. Simply click the image above to get started!

Upcoming Open Houses

Click the image to view our most current open house listings.

Click the image to view our most current open house listings. We invite any and all to take a look at some of our beautiful homes, one of them could be the one for you!

Our Newsletter

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Holdren & Associates Inc.
1902 Fox Drive, C5
Champaign, IL 61820
Tel: 217-398-3100
Fax: 217-398-3105

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Holdren & Associates Inc. 1902 Fox Drive, C5, Champaign, IL 61820
Tel: 217-398-3100
Fax: 217-398-3105

Holdren & Associates Real Estate
You are here: Home / Peggy's Pointers / Getting Started in Real Estate Investing