Investment Tips

Tips For Investors

Look for the right location.  Homes in high-rent or highly desirable school districts are ideal; stay away from rural areas where there are fewer people and a small pool of potential renters.  Also, look for homes with multiple bedrooms and bathrooms in neighborhoods that have a low crime rate.  Renters gravitate to safe neighborhoods.  Also think about potential selling points for your property.  The more you have to offer, the more likely you are to please potential renters.

Fixing Up The Investment Property

Stick to FHA lender guidelines. House do not need granite countertops. Renters want bright and clean. FHA requires no peeling paint.

Hold, Build Portfolio and Rent

Today is a buy and hold investment.  Forget about flipping, you will face more risk with a shorter time frame.  Think long term.  Historically real estate has brought good ROI and a rental income will be a good supplement to your paycheck.  Be Prepared to have cash on hand – most all investment property loans require 20% down.  Have a letter from your bank stating you are pre approved or have proof of funds letter from prior to looking at homes.

The Early Bird Gets the Worm! Move quick on seeing properties the day they hit the market and be prepared to make offer at that time.