If you’re interested in real estate investing, property in Meridian, Idaho is a hot ticket. As one of the fastest growing cities in the Gem State and in the nation, Meridian is loaded with Idaho investment properties. Stakeholders from outside of the state have their eyes on investment homes, apartment complexes, commercial properties and undeveloped land in Southeast Idaho, but you don’t necessarily have to be a financial genius to make a profit with Idaho investment properties—especially if you work with a Realtor experienced in real estate investing. The right real estate agent can be a valuable resource for finding Idaho investment properties that fit your goals. That Realtor is Jeff Stewart!
Can You Make a Million in Real Estate Investing?
Real estate investing is a lucrative endeavor—just ask Arnold Schwarzenegger. CNBC reports that the bodybuilder-turned-actor-turned-politician didn’t make his first million in the movie business but in the real estate game instead. Using money earned from bodybuilding, he purchased a multiple family structure first and continued to develop his investments and buy more as his real estate investing income grew. If he’d never had a hit movie, Schwarzenegger would still be a millionaire thanks to the investment homes and commercial properties he bought, sold, and collected rents from.
That’s not to say that all Idaho investment properties will magically make you a millionaire overnight. Successful real estate investing does require a bit of work, and it can be a little risky, but you can manage the amount of risk involved. One way, according to the Balance, is to stick to a conservative debt-to-equity ratio. In other words, if you purchase properties for which you don’t have a substantial down payment –like 30 percent or more—you could end up financing yourself out of a profit. Other tips when looking for investment homes include:
- purchase Idaho investment properties near where you live, unless you will be making enough income to pay 7-10 percent of your gross rents to a property manager
- keep an eye out for safety issues during your inspection, as you’ll be required to replace faulty wiring, install handrails, repair cracked and uneven walkways, among other things, before you can get it insured or rent it out
- keep it simple—that goes for the floorplan, the landscaping, and access to the electrical, plumbing, and heating and cooling systems. Those features may be impressive or even beautiful but, if any of them are complicated, you can bet they will be expensive to repair
Keeping it simple goes for improvements, too. Look for properties that don’t need a lot of remodel or repair work before you can rent them out. Even if you are handy with a hammer and saw, you may not be up to investing excessive time or a lot more money before investment homes start generating income for themselves.
Definition of Idaho Investment Properties
So, what is an investment property? Typically, when you think of real estate investing, rental homes, duplexes, apartment buildings, and commercial properties come to mind. However, Investopedia says that it is any real estate you purchase with the intent to earn rental income or to earn a profit through future resale—or both. That means the home you currently live in could be considered an investment property, and investment website Zacks reveals that vacation homes in Meridian can even be Idaho investment properties, depending on how often you occupy them and to what extent they’re rented out.
Get Your Foot in the Door with Investment Properties
Residential real estate investing is an excellent way to get started making money with Idaho investment properties. Buying rental units, whether it’s a single-family house or a duplex, triplex, or fourplex, will give you a chance to gain some experience finding good investment homes and getting used to managing a property. Then, like Schwarzenegger, you can buy more Idaho investment properties as your income increases, and the value of your holdings go up.
If you’re ready to start real estate investing, give Jeff Stewart at Stewart Realty a call. Not only does he have over a decade of experience in Southeast Idaho real estate, but he also owns investment homes in the area as well. Jeff can give you a personal tour of Meridian and the rest of Southwest Idaho and some great homes that will help you build equity and help you on your way to prosperity and show you how to make a good decision that will offer valuable returns on Idaho investment properties.
Jeff Stewart, Broker/Owner, Stewart Realty, LLC,
Direct: 208-602-1993, Office: 208-887-5445