1. Look at how many homes are for sale in the neighborhood you are buying in. Very easy to do, and if there are a lot of properties chances are that is not the optimal area to purchase your income property in.
2. How many rentals are listed that need tenants. I was chatting with a client that looked at a property in a city that he liked. When we looked at the amount of rental listings in that area, and the home I suggested to him he was stunned. The cities had a vast difference of homes that needed leased and mine only had a few properties, his had a ton.
Purchasing homes that are in very desirable areas that have fewer rentals created a better income property.
3. Having a Realtor that constraints on just investment real estate is also crucial to getting real estate period. There are wholesalers that you can get, but you better be careful with unlicensed people selling you real estate.
4. Does your Agent have construction and property management available to you and how much experience do they have? Construction costs are sometimes very crippling to investors and they need to know what their cost will be before purchasing.
Property management is very important because after all investors need income from their properties and bad property management can cost big! My wife is a broker and has a property management and we are currently helping investors out by getting their homes with our property management. Some of these clients have not received rents for 2-3 months and the homes are in great areas.
5. Lastly you need to know how long your Realtor has been in the business and what are there experience is? I personally love to show all the homes we have done over the years and the success we have had doing them.
So these are just a few items that are very important when your buying income real estate. You need to know how your dealing with and what you are buying!
Call me I'm Brett 216-703-5740 Fathom Realty Doing 100's of homes a year and counting!
So these are just a few items that are very important when your buying income real estate. You need to know how your dealing with and what you are buying!
Call me I'm Brett 216-703-5740 ICON Agent two years in a row at EXP Realty.......100's of homes and counting!
Call me I'm Brett 216-703-5740 Fathom Realty Doing 100's of homes a year and counting!
So these are just a few items that are very important when your buying income real estate. You need to know how your dealing with and what you are buying!
Call me I'm Brett 216-703-5740 ICON Agent two years in a row at EXP Realty.......100's of homes and counting!
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Thank you