Income Properties With Colin Delaney – My observations on a great way for your money to work for you.
We go to work everyday with the hope of earning money. Of course, we are seeking fulfillment in other ways too such as seeing someone smile because we took an extra second to track down the information that they needed, or just simply holding the door open a couple seconds longer to make sure that stranger knew that they DO matter. Either way, it is the work that we put in each and every day that generates the income we need to sustain our lives and provide healthy meals for our families.
Yet in all our strivings, after we receive that hard earned paycheck and pay all of our bills what do we do with the “extra” money we fought so hard for? hmm… well, most people put that money in the very secure and predictable low interest bearing bank of whatever. With inflation running on average between 2-3% we are actually losing our purchasing power as the months go on. Nevertheless, there are other alternatives to try to increase our return on our hard earned income. Some of those alternatives include stocks, bonds, S&P indexes, mutual funds and a guy in a very nice suit telling you that if you just hold on through the bumps that it’ll all make sense one day… Not sure about you, but I’m not that comfortable with that philosophy or strategy for my hard earned green backs. I’m not against diversification into some of those things but for me I tend to lean towards things I can see and touch, such as income properties.
Income properties are a great way to make your money earn more money than you could in a typical savings account. As with anything there are no guarantees but the last I checked they weren’t making any more land on our planet and the population isn’t going down….and there aren’t many other places to build in Orange County! Hence, I put the focus of my business on income properties. Last year I sold or was part of selling roughly half a dozen multi-million dollar income development opportunities.
Common returns for investors are 15-30%. It’s a matter of knowing which properties to buy and at what price. Sounds simple, and in some ways it is. Once the right property at the right price has been identified it’s just a matter of putting the deal together. As you probably guessed a lot more than just you and I have figured this out and so it’s a competitive market. That is why it is important to work with a knowledgable professional that has experience with these types of sales. The same principles apply to $200,000 dollar properties, right property at the right price. Sometimes these deals are off market deals so the average consumer wanting to invest in property doesn’t exactly have a fair shot at them.
That is why it is also important to work with a realtor who knows his area well and will more than likely know of a few of these types of off market deals. It’s ok to be apprehensive about investing in properties but don’t let your apprehension turn your hard earned money into a snack for inflation. Income property investing DOES work when done correctly. When you are ready to get off the fence talk to a professional like myself. Until then keep working hard and going the extra mile!
Connect with expert Colin Delaney at 714.743.9882 or email him.