In this episode of Big Ideas, Small Business, host Doreen Milano talks with Suzanne Johns, Concierge Realtor of Only Luxury Estates Dallas. She works with the high net worth individuals looking for unique properties that will help with their investment portfolio and impact the legacy they are building.
Watch this episode of Big Ideas, Small Business with Doreen Milano TV here:
Real estate is a cyclical market. We are currently in a dip which makes this a prime time to purchase an investment property and land. Once we come out of the dip in the market, the value of the investment will likely increase. In fact, the $500K and below properties went up 15% in value in Dallas County this past quarter, which is encouraging given the market is low right now.
There is a focal point for the market between Forest and Downtown, also referred to as the Golden Triangle, where investors are purchasing aged properties, tearing them down, and building new homes to make a significant profit. If this is something that appeals to you as an investment, choosing a project that is DIY is not recommended for resale purposes. Instead, get a professional to help you design the space so the investment can be marketed to the masses.
Some tips for investors are to keep your eyes open, have a good conversation with a qualified broker, and do not get into anything to do with retail or an office building given the current and projected vacancy rates. However, manufacturing is a good investment as it works well with office space.
When deciding to invest in property there are three steps that are important which are to determine what you want, understand and agree on the strategy, and stick to the plan. Additionally, when investing it is important to work with an experienced broker that understands the law around taxes and tax shelters. Brokers should vet the investors as much as the investors vet the broker. It needs to become a trusting relationship where each party respects the other and has integrity.
Big Ideas, Small Business is sponsored by:
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