Things to Consider When Investing in Real Estate

By Fran Campbell - July 12, 2019

Have you been thinking about expanding your assets and investing in a rental property at the Lake of the Ozarks? Having a monthly revenue stream from a rental property can be enticing but there is a lot you will need to think about before you decide to invest. Today, the best real estate team at the Lake of the Ozarks has some tips to consider for looking for an investment property at the Lake of the Ozarks.

Purchase With A Plan

There are several questions to ask yourself before you invest in real estate. Will you want to use the property part of the year? Vacation rentals are enticing on many levels, though considering how often you will use them during the "off-season" may affect your potential rental income. Do you want to invest in a house or a condominium? The type of property you intend to invest in will affect your monthly maintenance budget. Your agent at Fran Campbell Team will be your guide as you decide the best location and type of property to invest in.

Evaluate Your Options

As you look at properties, consider your options - you'll have many! From location and style of building, to how you plan to use the property personally. We want you to be happy with your decision. Buying a property in a good location is one of the best ways to ensure the steady flow of rental income and help you and your family utilize the best of what your investment has to offer.

Understand Your Investment

When you find the property you intend to buy, it's important to understand the condition of the building and surrounding area. We encourage professional inspections prior to finalizing the investment. You'll most likely have a budget for repairs and maintenance; communicate your price range to your agent, this will ensure additional funds will be available in the case upgrades are needed before your first rental customers are booked. You'll also want to know all the best the community and lake area has to offer, and your knowledgeable Fran Campbell Team agent is here to introduce you to all the great places and things to do!

Shop for Insurance

Property insurance includes insurance on the structure itself as well as liability insurance, in case someone is injured while on the premises. You will want to have the right types of insurance with sufficient coverage to protect your investment. Having this information right out of the gate will give you peace of mind going forward with the legal aspects of renting a property.

Contact a Real Estate Expert!

One of the best decisions you can make if you're planning to invest in real estate is to hire an experienced real estate agent at the Lake of the Ozarks who will look out for your best interest. When you hire Fran Campbell Team to help you buy a rental property at the Lake of the Ozarks, we bring over 30 years of real estate knowledge to the table and we can help guide you through the process. When you are ready to begin your search, contact Fran Campbell Team!

Contact the Fran Campbell Team to get your home SOLD!