Avi Cohen, President and Owner of Outside In Enterprises shares the difference in mindset between a landlord and an investor, and why it keeps many from accumulating wealth with Real Estate.
In an interview with Business Innovators Magazine, Mr. Cohen discussed his passion to help others become financially successful by bringing in non-investors or by assisting investors in other areas to become investors in Trenton for as little as $15,000. His knowledge as an industry insider can help investors make upwards of a twenty percent return on their investment, with ten to thirteen percent being a typical investment return.
Mr. Cohen describes the Trenton real estate market as the “perfect storm” and credits the unique market as the main reason investing in Trenton makes so much financial sense. He cites the low property price points, relatively high rent costs, the landlord friendly landlord-tenant courts, and the banks not willing to lend as reasons for successful investment opportunities. The reason for banks not lending for owner occupancy, according to Mr. Cohen, is one of individual preference. He states that because of the low property points, his example being $30,000, banks do not want to issue a thirty year mortgage at six percent because it is a small return and it would take lender a long time to earn back the initial investment. He goes on to explain that most investor deals are cash deals and the banks unwillingness to lend for these properties works to the benefit of the investor by keeping the price points low.
During his interview, Avi Cohen discusses the fact that while foreclosure rates have gone down across the country over the past few years, this is not true of Trenton. And while this can be frightening to a potential investor, his response is that investors should take advantage of buying low and selling high because “the chance of it losing value is nearly impossible.”
The difference between becoming an investor and being a landlord is also something Mr. Cohen discussed. He explains that being a landlord is very hands-on, which requires being on call all the time. Being a landlord means dealing with the property upkeep, the tenants and collecting the rent in an attempt to make income, whereas being an investor allows for someone else to handle everything while simply collecting a check, minus expenses, at the end of the month.
Mr. Cohen is happy to discuss Trenton real estate investments as well as general real estate investments with anyone and offers a list of available investment properties, including initial purchase price, renovation costs and expected return on the properties.
Company Name: Outside In Enterprises
Contact Person: Avi Cohen