Tips For Investing In Real Estate When You Have Limited Time

Posted on

If you are interested in investing in real estate but are worried that you do not have a lot of time, you might want to review the following tips. This way, you can still make your investments without leaving yourself with little to no free time for yourself.

Attend House Auctions With Multiple Listings

Instead of looking at one house at a time, you might want to attend an auction that will sell off multiple homes in one day. This way, you will have a few to pick from and they will most likely be at reasonable prices. If you are not able to win one of the houses, you can start bidding on the next one in line that you are interested in. You could attend a couple of real estate auctions a year and end up with several properties that might have otherwise taken much more time to find on your own. 

Hire A Property Manager

You could have one or twenty investment properties and still get a lot of great use out of a property manager. Instead of you having to tie up a lot of your personal time showing empty investment properties to potential renters, you can have the property manager do it for you. Depending on the skills of the property manager that you hire, you could also have him or her deal with your business taxes that will become due as a result of the money you make off of your investment properties. Generally, the actual cost of the property manager is something that can be deducted as a business expense, which should help slightly offset the amount of taxes you will have to pay for the tax season. 

Become A Silent Business Partner

If you would like to gain the benefits of having investment properties, without having to put a lot of work into them yourself, you may want to consider getting a business partner. You can become the silent business partner. This means that your name may be on the deeds and part of your money is involved, but the other partner is the one who is more hands on. He or she may have to do a little more work and may therefore receive a slightly bigger percentage of the profits than you, but this allows you to still get a piece of the pie without having to put in too much effort.

With those few tips in mind, you should find that you can really invest in real estate without stretching your time too thin.