In order to make your real estate investments successful, you must keep location in mind. Yes, it may seem cliche, but the location is still a critical consideration when purchasing real estate because it has a direct impact on how well the property does as an investment. Here’s how to use location to your advantage when buying investments.
Consider the target tenant for your investment. Then, consider what that person needs in a home location. Do they need to be close to amenities? What are their shopping habits? Are there shops to accommodate them? Do they need excellent schools? Libraries? Some of your tenants may rely solely on public transportation. How close are you to trains, buses, ride-share hubs, etc.? These are but a few questions you should ask yourself when choosing a property.
Next, consider where the excellent schools are in your area. Schools may not appeal to all of your potential tenants, but they are important in the overall value of the home. Being in a top-rated school district or near top-rated schools makes a home more valuable. Don’t forget to consider plans for future schools or school upgrades, because investments should be long term in nature.
Is the home near shopping and dining options? Will the residents have easy access to a grocery store? Does it have parks or recreational opportunities nearby? Most of the time, tenants or buyers want these important amenities within a five or ten-minute drive from their house. If you can find an investment property near local amenities, it will be more valuable than one far from them, particularly if you’re going to use it as a rental.
If your city has a good public transit system, consider investments with easy access to this. Not all cities do, but this can be a major perk if yours is equipped with one. People who can use public transit can leave their cars at home, and this can help them save money. For some, this is a feature that they hope for when choosing a home to rent or buy.
Investing in real estate requires the right strategic planning. To make sure you are ready, research location well. Finding a great property in a great location will help you find investment success.
Max Mitchell epitomizes integrity, energy, hard work, and creative services in every detail of your real estate transaction. With over 40 years of experience in the Champaign-Urbana area, Max has established himself as a trusted and successful real estate agent. He is proud to be a Ramsey Trusted real estate agent, providing top-notch service to his clients.
Max's sales journey began at a young age, selling The News Gazette in his neighborhood. Since then, he has worked in every aspect of the industry, representing sellers, buyers, investors, and banks in both residential and commercial markets.
As a family man, Max holds a strong devotion to God and his beautiful wife, two children, and two lovely granddaughters. He's an adventurer by nature and enjoys floating over Champaign-Urbana in his hot air balloon, often traveling to attend the Albuquerque International Balloon Fiesta and other events throughout the summertime. Max also challenges himself with early morning cycling classes at Mettler Center and the YMCA, finding it a great way to recharge and connect with others.
Max's sales expertise has been shaped by renowned mentors such as Dale Carnegie, Tom Hopkins, Mike and Tom Ferry, and Brian Bufini. He believes in giving back to both the industry and the community. Max serves on the Illinois REALTORS Board of Directors, has been President of the Champaign County Associations of REALTORS, and holds a seat on the Champaign County Board in district 5. He remains active within the community, contributing his time and expertise to organizations such as Visit Champaign County Board, Champaign County Economic Development Board, and the Willard Airport Advisory Committee.
When it comes to working with Max Mitchell, you can count on five key qualities: Love, Integrity, Commitment, Passion, and FUN. With Max as your real estate agent, you can trust that your transaction will be handled with the utmost care and professionalism.
