Buying a rental property is a fairly hands-on investment most of the time. You need to deal with all of the property maintenance and finding tenants etc. which can take up quite a lot of your time. That works for some people, but a lot of investors are looking for hands-off investments that they don’t need to put many hours into, and they’ll usually avoid real estate.
However, it is still possible to invest in real estate without having too much involvement with the property itself. If you’re looking for a hands-off real estate investment, these are some of your best options.
Property Management Companies
You could always invest in properties yourself, but that means you’re going to have to deal with all of the renovations that might need doing, find some tenants, and then handle all of the maintenance once they move in. That’s a lot of work for somebody that wants a hands-off investment, but what if you could get a slice of the pie without having to take on all of that work?
There are already a lot of real estate management and development companies out there, like the PARC group headed by Roger O’Steen that are already putting the hard work in and they’re making a lot of money out of their investments.
If you want in on real estate investment but you don’t want to deal with the day to day running of properties, you could just invest in these management companies instead. If you buy stocks and shares in real estate management companies, you’ll see a fairly good return.
You won’t make as much as you would if you bought a property of your own, but you also don’t have to do any of the hard work so it’s a good trade-off for people that want a hands-off investment in real estate.
Ready To Go Properties
If you want to maximize your profits in real estate, you will need to invest in properties of your own but there are ways that you can make it less time intensive.
One of the simplest ways to do it is to look at ready to go properties. Instead of buying a property that needs to be renovated, which is expensive and time-consuming, you can buy one that is ready for tenants to move in right away.
You’ll have to pay more but renovating a property is expensive, even if you find ways to cut costs, so you won’t actually be investing that much more. You’ll still have to find tenants and deal with some maintenance but if you go for a new build, it should be minimal.
Crowdfunding a property investment is a great way to get into real estate investing if you don’t have enough for a deposit. You can go in with a far smaller amount as you’re investing as part of a group.
The other good thing is that everything is handled for you, you’re just there to put the money in and take a slice of the profits. You won’t get as much, of course, because you’re only investing a small amount and you’re sharing the returns with the rest of the group, but it’s the easiest way to find a hands-off property investment.
Check out these property crowdfunding platforms to see where you could put your money.
Real estate investing doesn’t always have to be time-consuming if you don’t want it to be, just look into these hands-off options instead.
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