How to get started
The first step for an investor looking to buy a home is to determine your budget and financing options, including obtaining pre-approval for a mortgage if necessary. This will help you understand the price range of homes you can afford and enable you to move quickly when you find a property they like.
Additionally, knowing the type of investment and resources avalaible are crucial before starting the search. For example, are you looking for a fix-and-fli or buy-and-hold?
From there, you can begin to research a target market and neighborhoods to ensure a good investment decision.
Submit your search profile and investment goals to receive a customized list of on and off market homes that match your specific preferences
Some other things to consider
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Cap rate
Cap rate is a crucial metric for real estate investors as it evaluates potential return on investment, allowing for informed decisions and comparison of properties.
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"As-Is" condition
Purchasing a home "as is" can allow for a quicker closing process and the ability to purchase a property at a discounted price. If this is a strategy you want to take, it is still important to get a full home inspection.
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Tenants
When buying a home with tenants, it's crucial to understand local ordinances and analyze existing leases to ensure compliance and avoid potential legal issues. Stay informed to make informed decisions.
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Property maintenance
Having a property maintenance team in place before buying an investment property is essential for ensuring proper upkeep, addressing maintenance issues promptly, and maximizing rental income. Plan ahead for a successful investment.
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