I - (Drew) - Bought My First Investment Property!!!!
I wanted to take a brief moment to articulate our families thought process in buying our first investment property. My sincere hope is that this will provide you value if you have been thinking about investing in Real Estate as well!
First, and most importantly, we made the decision to invest in Real Estate. I often ask my team and other agents, “are you interested or are you committed?” We finally became committed after years of being interested. This is a pivotal first step. Once you decide to do something, the rest is easy. Or shall I say, easier… Second, we are investing where we know best—Frederick. This is critical when investing in anything, especially Real Estate. You should be intimately familiar with the location, the risks and the market rents. Being “bullish” on Frederick and it’s future, this made the decision to invest in another home locally, a very strategic and easy decision.
Finally, we have incorporated Real Estate as an integral part of our families long-term financial planning. We are not “flipping” this home and we don’t plan to sell in any market, regardless of appreciation. As such, we are playing the long game with this home and hope to pass it on to our children. When you take a long-term approach and view the investment in this light, it allows you to not get emotional when the market changes. This is very similar to being invested in the stock market, right?
I could certainly write much more on this topic and for the purposes of the "quick-hit" update”, this is all I have for now. We would be most thrilled to engage with you in a more robust dialogue to see if investing in Real Estate is right for you and your family.
Living the life we imagined always!!!