Buying real estate is more than finding a place to call home. Investing in real estate has gained popularity from the last 50 years and people have started it considering a gainful investment vehicle. Though the real estate market has plenty of opportunities that can help you gain profits and make your investments profitable, but buying real estate is complicated than investing in stocks itself. Eric Gonchar– a reputed and experienced real estate law attorney having more than 26 years of experience in the field shares his expert advice to consider your investment options.
“There are a number of options to choose from when you plan of investing in real estate”, says Eric Gonchar. You may buy a property and rent it out to a tenant. As a landlord of the property, you will charge an amount of money called “rent” from the tenant and will be responsible for paying the taxes, mortgages, and maintaining the property. You may also charge more in order to generate monthly profits.
Eric Gonchar also recommends purchasing real estate property and selling when the rates are comparatively high. This is an also one of the gainful real estate investment but you need to spend maintenance costs on the property until it is sold. Last but not the least, another type of real estate investment is the commercial real estate. It is profitable type of investment which will help you gain long term benefits and profits. However, in that case also, you will need to spend maintenance costs on the property.