There's Never Been a Better Time to Invest in Real Estate!
Whether you're an experienced Grand Forks and Devils Lake investor or just starting out, you'll benefit from our investment instant alerts! Take a look at the hottest deals under $200k to diversify your portfolio.
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Our easy-to-use search feature lets you find homes, multi-family properties, commercial listings, and land at every price.
We've got tips, tricks, and advice for investment buyers during every stage of the process—and you can always call us for more info!
Want to know just how much you can afford to spend on your investment? Most properties require a 20% down payment!
Real Estate Investment FAQ
If you're looking to expand your portfolio and generate passive income, purchasing an investment property in Grand Forks and Devils Lake could be the right fit for you. Believe it or not, you don't need tens of thousands of dollars to start out—but having the help of a top-notch local agent can help you discover all of your options.
How much can I afford?
Unless you're purchasing an investment property that will double as a primary residence, expect to put down at least 20% of the purchase price for a loan. This actually isn't as daunting as you think, especially if you invest in land or a fixer-upper!
What options do I have?
It depends! Single- and multi-family homes, land, and commercial properties are all popular choices. You can also take advantage of real estate investment trusts (REITs) or partner with other investors to make a purchase.
What if I don't have a down payment?
In addition to REITs, many first-time investors have embraced "house hacking," which involves purchasing a duplex as a primary residence (that means less money down!) to generate rent or sharing a home with roommates to cover mortgage payments. It's okay to start small!
What should I look for in a property?
Above all, investment properties are meant to turn a profit, whether that's through tenants or appreciation over time. You and your agent should discuss your goals and individual situation to determine the right area, condition, and type of property to buy.
Is now a good time to invest?
Because real estate is a tangible investment, it tends to hold its value and grow in equity over time. And as prices continue to increase, purchasing a property will cost you more the longer you wait.
Should I use an agent?
Absolutely—it pays to work with a real estate professional even if you have prior investment experience. An agent can handle all the details for you, and they can also recommend lenders, property management companies, and other vendors after the sale.
Make Your Investment With RE/MAX Grand
Real estate investment is a profitable venture that everyone should consider—and even if you're not sure where to start, we'd love to talk with you. Contact us today with any questions you have about investing in Grand Forks and Devils Lake. We're always here to offer personalized advice!