The COVID pandemic brought about a new way of living for many. People were forced to stay home away from friends and family—we were even forced to work from home. Because of this, many people truly had to stop and think about where they were currently living. Being stuck at home forced people to open their eyes about many things—the biggest, in particular, was their home, its location, and its practicality.
Luxury real estate broker Beau Blankenship was one of many brokers who experienced a record-breaking year in sales because of COVID. “Investment properties, and the real estate industry as a whole, became a lucrative business during the end of 2020 and into 2021 because of the COVID pandemic,” says Blankenship.
“The historically low-interest rates, coupled with the rise of remote work, allowed for more opportunity to invest in a different type of lifestyle. Not only were more people interested in “moving to the beach,” but more people than ever were interested in BUYING at the beach because of the sudden ability to “work from home from anywhere,” says Blankenship.
I work primarily with people who are experienced in purchasing investment properties or properties that act as a vacation home while also generating rental income
“I work primarily with people who are experienced in purchasing investment properties or properties that act as a vacation home while also generating rental income,” says Blankenship. “I’ve worked with a lot of people, so if you’re looking to invest or buy a home, here’s some advice,” says Blankenship.
“I’ve worked with so many interested buyers who don’t know what they can and can’t afford. If you’re looking to start this process, it’s essential to know your numbers. You should know exactly how much house you can afford, what your mortgage payments need to be, potential interest rate costs, and any other monthly costs after you move in. You’re going to want to find an estimate for all of these things, and you’ll want an estimate for these things if you find a house you’re seriously considering buying. Look at your paycheck and make sure you can afford it and if you’re investing, calculate your return on investment before you buy,” says Blankenship.
“One more thing, and this is crucial. Figure out your credit score and start talking to lenders about your interest rates and what you qualify for. This will make the buying process that much easier for you. If you can get prequalified, that’s a homerun!” says Blankenship.
If you’re looking to buy, sell, or invest in Blankenship’s area, know this: "I wake up every day ready to work hard for my clients. Nothing makes me happier than finding them their dream homes, even if it’s an investment property, second home, or their forever home,” says Blankenship.