Whether you are a home buyer or an investor buying real estate, you need to understand what you are buying and the cost in buying that asset. I look at real estate daily to find the diamond in the rough for clients, and there are some that look really good. You still have to physically go to the property and look at the repairs and if the location had a good chance of creating equity now or in the future. Also is the home located around nice homes and amenities.
A lot of investors rush to get real estate and do not look at the quality of tenants and area. That is a huge mistake, and cost investors a lot of money. Tenants moving in and out can really effect your bottom line. That leaves a bad taste in investors mouths and hurts their wallets.
If your looking to buy a home to live in then make sure it's an area that will have good equity growth. You can get the history of a neighborhood from an Realtor and see the area trends on pricing. I have a client that was looking in an area that had no equity growth at all. I showed my client another area that was almost the same price that was growing in equity. We wrote an offer and I hope it is excepted today.
Amenities and school ratings also seem to be a big factor in buying or renting a home. Remember in the future you may need to sell your property and if your equity is there, then you will have a nice pile of cash at closing.
Make sure you have all your ducks in row when your getting ready to purchase a home. How your going to pay for it and what type of home you want. Real Estate is an investment whether you live or purchase flips or income homes. Everyone needs a place to live make sure yours gets you income and equity......that creates profit for you.
Need prices and areas that are trending upwards? Call me I'm Brett 216-703-5740 EXP Realty Ohio and 602-363-6551 EXP Realty Arizona
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Thank you