Real Estate Investment Strategies for the Second Half of the Year

2023 has been a very exciting year for real estate investment, and it’s just getting started. If you are looking to get involved in real estate investing this year, you still have plenty of time. While there are plenty of ways to approach the second half of the year, these are some of the things you should keep in mind.

Get Expertise from Experts

This tip stands true for any stage of your real estate investment journey. Surrounding yourself with experts can help you avoid common pitfalls and steer you in the direction of profit. To start, you’ll want to find an experienced realtor who knows the local market. They will be able to help you find homes through their network that are good investment opportunities. Not only that, they can provide you with data and analytics to help determine where you should be focusing and what market shifts to look out for.

On top of finding a good realtor, you may also want to find a mentor. Join a local group or a mastermind to meet like-minded people who are in the real estate investment space. Take note of the people who are further along in their careers than you and build a connection with them. Their expertise will be invaluable as you continue to grow.

Cash in on Rental Properties

Although improving, availability is still a continuing issue investors are running into. Finding a multi-family or similar style of home is a great option for a profitable second half of 2023. Rent prices continue to increase as people are choosing to rent due to affordability issues. Even with higher rents, most potential homeowners are choosing to stick with renting over buying a house. Due to the high demand for rental properties, the risk is fairly low for finding tenants and getting a steady stream of income. That guaranteed monthly income will be a great way to put money aside for other investment projects that come up.

Look into Foreclosures

Whether you’re looking to fix-and-flip, convert to rentals, or get into creative real estate, foreclosures are another way to get into the game at a lower cost. If you want to keep an eye on foreclosures in your area, make sure to inform your realtor. They’ll be one of the first ones to know if anything is popping up on the market that you can capitalize on.

Expect a Buyers’ Market This Winter

If you are waiting to buy, this winter may be your best ticket. 44% of experts say that they expect the U.S. housing markets to shift in favor of the buyer by the end of 2023. With the expectation that interest rates will decrease by year’s end, this could be a great time to invest. Many investors have shied away this year due to fears around interest rates and a recession. Keeping a pulse on your local market and how things are shifting can help you get ahead of anyone looking to get it on the new prices.

While the housing market is still not where it used to be, the second half of the year shows a lot of promise. If you are looking to invest in real estate, buying rental properties is likely the surest bet for this year. With rental prices on the rise and many people opting to hold off on buying a home, there’s a lot of opportunity to make a great profit.

If you’re ready to get started with investing, make sure to reach out!