5 Real Estate Investing Strategies to Try in 2024

5 Real Estate Investing Strategies to Try in 2024

As we dive into 2024, the landscape of property investment is ripe with opportunity and innovation. Whether you're a seasoned real estate investor or a wide-eyed rookie, there's never been a better time to jump in.

But what strategies should you try? We've got the info you need. Check out the top real estate investing strategies you'll want to try out in Nashville this year.

1. Invest in Rental Properties

Investing in Nashville rental properties can be an awesome strategy for generating passive income and building long-term wealth.

One approach is to focus on residential rental properties. This could include single-family homes, condos, or multi-unit buildings. These properties can provide steady rental income while also allowing for property appreciation over time.

It's crucial to carefully select properties in top Nashville locations with strong rental demand and positive cash flow potential. Conducting thorough Tennessee research and financial analysis can help you find investment properties that meet your investment criteria and offer attractive returns.

2. House Hacking

The concept involves purchasing a multi-unit property, such as a duplex, triplex, or fourplex, then living in one unit and renting out the others.

One of the primary benefits of house hacking is its potential to significantly offset your monthly housing costs or even turn a profit.

By renting out the additional units, you can use the rental income to cover your investment property mortgage, property taxes, insurance, and any other expenses.

House hacking can offer tax advantages that may not be available with traditional rental properties. Depending on your situation, you may be able to deduct a portion of your mortgage interest, Tennessee property taxes, insurance, and maintenance expenses as rental property deductions.

3. Look at Different Property Types

You don't have to just stick with residential properties. Commercial properties, such as office buildings, retail centers, and industrial warehouses, offer higher rental yields and the potential for larger-scale investments.

Commercial real estate investments often involve longer lease terms and more complex leasing arrangements but can provide stable cash flow and portfolio diversification.

Vacation rentals or short-term rentals have gained popularity with the rise of platforms. These properties can command higher rental rates compared to traditional long-term rentals, especially in tourist destinations.

4. Crowdfund Loans

With crowdfunding, investors pool their resources through online platforms to fund real estate projects, typically in exchange for fixed interest payments or a share of the project's profits. That way, you won't have to spend all of your free income.

Crowdfunding loans offer passive income potential with relatively low minimum investment amounts.

5. Get Help

One great way to improve your real estate investing is to get some help. Nashville property managers can ensure every property you snap up is in tip-top shape.

They can screen tenants and lock them in for the long haul, which will help you ensure you get the most possible profit as a real estate owner.

Experiment With These Nashville Real Estate Investing Strategies Today

These real estate investing tips are just the tip of the iceberg; there are so many other options you can try out.

Do you need help keeping on top of your Nashville properties? Evernest Property Management is here for you. Back in 2008, we worked with just 30 properties - now we have around 16,000!

Contact us today to get started!