We have got a real estate agent this week as our Gettin’ Guesty guest and well, with a dashing smile and major selling/marketing skills this fellow is a winning combo. Yes, he is.
Please help me welcome:
Jim Rodriguez
(Here’s his site.)
I really wanted to talk to a real estate agent because I’ve heard about using real estate as an investment tool and I wanted to hear from an expert some thoughts on the subject. Really, I wasn’t sure what questions to ask and my goal was to get a basic understanding of the thoughts behind this investment option. You know how sometimes you have to ask some questions to even know what the next questions should be? That’s what happened here.
Also, I should probably say this isn’t a paid ad or anything, I could see someone thinking that so just letting you know I asked Jim to be a part of And Then We Saved simply because I think he’s pretty great.
Some Q and A’s with Mr. Jim Rodriguez.
And Then We Saved: How long have you been in the real estate business?
Jim Rodriguez: 6 years as a broker, prior to that I was a builder and an investor.
ATWS: What are your thoughts on real estate as an investment?
JR: It is an excellent investment. Though, it is important that individual and realistic goals be addressed specifically to the investor.
ATWS: Where should someone start if they are considering real estate as an investment?
JR: It really depends on what the end game is. Is it creating income? Purchasing a primary home for the purpose of creating equity? Or buying peal estate for the purpose of quick improvement and resale? These are all things to think about and ask yourself.
ATWS: Do you think investing in real estate is a good idea or a bad idea and why?
JR: It is a good idea if it is properly thought out.
ATWS: Do you think now is a good time to invest in real estate?
JR: Absolutely
ATWS: How does someone break into the real estate investment business?
JR: Define the goals them obtain professional assistance to meet those goals.
ATWS: How does someone finance the purchase of investment properties?
JR: Same as they would finance the investment of a primary home. Banks and lending institutions offer loans with specific criteria that must be met. Some investors use “hard money” lenders that generally loan money at higher rates.
ATWS: How is a property evaluated to determine if it is a good investment property?
JR: It has to be evaluated based on what the ultimate goal of the investment is. Quick return? Cash flow? Short, mid, or long term?
ATWS: What is the state of the real estate in the US? Is it looking up or down?
JR: Real estate value is determined by the law of supply and demand, and is always reflective of what is happening at a local level.
ATWS: What are the best and worst real estate investments you have seen?
JR: The best was a client who recently purchased vacant land in LoHi and sold it a week later for 27% more than he paid for it. The worst investments are the many builders who acquired land in 2007-2009 at high prices and found those values greatly reduced in subsequent years.
ATWS: A long running debate is: “Is it better to rent or buy?” What are your thoughts on this controversial debate and why?
JR: Depends on where you are… personally and geographically. Rentals provide: “no risk”, no maintenance and it’s easy to move from the residence. However, rentals also provide: no tax break, no opportunity to improve or increase equity, generally tighter living quarters, and they restrict your creative and aesthetic input into your residence.
Jim Rodriguez ● THANK YOU ● for being a part of And Then We Saved!
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