Is the time right for you to make an investment purchase of real estate? Is your own home paid off, or does your existing mortgage payment leave extra room in your budget for investing? Are you ready to put your money to work and take advantage of current market conditions?!
Do you the current market trends of low purchase prices and high rents entice you to pick up a rental property? A solid rental property can bring you almost residual income for life. It could be one of the best long-term investments you ever make. If you’re eligible for a VA vendee loan, you have the option to purchase a rental property for 5% down. There are also other programs available to non-VA investors that allow you to purchase a rental property for only 10% down. I evaluate the market every week, studying each zip code to locate the top 2 or 3 “bargain buys” in that area. When you’re ready to start searching for your investment property, you will want this list! I can advise on the pros and cons of each property and the rent you can expect to receive on a monthly basis.
Do you prefer instead to take advantage of the supply of distressed properties on the market with a fix-and-flip? A fix-and-flip can bring you a substantial lump sum in the short-term. We’ll have to evaluate your options carefully to pick the right property. It is a numbers game – How much will the repairs cost? How long will repairs take? How much will I be able to sell the property for after repair? How long will it take to sell? With my expertise in current market conditions, I can advise you on the likely after repair value, what pricing strategy will generate the most interest, and how to reduce the time on market after repair. I would advise you to consult with construction experts on the likely repair cost and time to repair. I can also explain the contract and purchase process for the different types of distressed properties – HUD repo, VA repo, Fannie Mae HomePath property, private bank-owned, or a short sale. Each process is different, and I will guide you through. I can also recommend local 203(k) and hard money lenders to help you access the funds you’ll need to successfully execute your fix-and-flip.
Whether you’re just beginning to think about buying an investment property, or you’re ready to start looking now, I am ready to help! Call or email me anytime. (719)-272-1765.