What makes a good real estate investment?

As the world faces a new challenge due to the COVID-19 pandemic, many industries are expected to face difficulties. Real estate is projected to be one of these sectors. Though the property market seems to be shrinking, experts say that people will always need a home, and businesses will still need space to operate. Businessman and real estate professional Gene Bernshtam shares what makes a good real estate investment.

In a good location: Finding the best site is key for residential or commercial properties. A good real estate investment doesn't need to be in a prime location. Finding a place in a safe and accessible area can be good enough, especially in this time when people are trying to stay away from decongested urban centers.

Has the potential to be profitable: Gene Bernshtam shares that profit is important when buying real estate property even during these times. Upon acquiring the property, a person also has to pay for taxes and even spend for construction or repairs. For business properties, advertising and marketing can be added expenses. Before buying an affordable property, investors must consider if it can bring in a profit in the next couple of years.

Does not need constant maintenance: Buying an affordable property will only be worth it if it won't require extensive repair and maintenance. Renovating a property can lead to extra expenses. It can also require a lot of time and effort. A real estate purchase will be truly valuable if the property can be managed and used correctly.

Gene Bernshtam currently leads commercial real estate investment and development firm Avalon Holdings LLC, which specializes in apartment buildings and mixed-use properties. Follow this blog for more articles on real estate.