If you own your own home, then you’re already a property investor. Whether you want to live in the property for the rest of your life or sell it and make a profit is a different matter entirely. There are many investment gurus with differing strategies, styles and property advice to help you invest wisely in Real Estate. Although every investor has different interests and tactics they all have the same desire; to generate an income or lump sum profit from a well chosen property.
Everyone hopes that their property will increase in value over time, however market trends and the state of the economy may dictate a different outcome. If you’re in the process of finding the right investment property there are a number of ways you can make a profit despite factors beyond your control.
Get the price you want
The most useful property advice on finding the right investment property is to buy at the best possible price. As the renovate- to- sell market can be uncertain, it’s important to find property investments which are realistically priced, in order to reduce the risk. Some of the main problems associated with finding the right investment property include competing against home buyers. Competitors who are looking for a home and not an investment may be willing to pay more for the property if they see it as a long term home, while investors are striving to get a lower price to gain maximum profit. However, there are certain strategies which can help investors find the right property at the right price.
Find a Home Investor Specialist
Before you choose a property to improve and sell, get expert property advice from a Home Investor Specialist. This professional advisor can provide you with a list of potential property investments which are priced a little higher than you desire, but have already been on the market for over 5 months. Ask to see the properties which have reduced in price during this period, in order to find a seller who is motivated to sell quickly. If the property’s value has decreased the Agent will also be looking for a rapid sale to save their commission and the listing. Finding the right investment property in this situation can be easier as the owner and agent will be attracted to a quicker deal, which is more likely to swing in your favour.
Property Advice Blog Top Tip!
Be aware that if a property hasn’t sold it may be due to a variety of problems. Investigate the situation and make sure you’re not investing in a property albatross which has irreparable or expensive damage.
Finding the right investment property to improve
Once you’ve gained valuable property advice from a Home Investor Specialist you’re ready to start viewing and evaluating. Don’t just consider the fabric of the building but think about the area’s desirability, and whether you can improve the property’s appearance easily. Sound property investments come in all shapes and sizes, with a variety of areas to improve. From the interior, to the garden and the building’s exterior, look for problem areas which can be easily overcome to increase attractiveness and a bigger profit. Your Home Investor Specialist can also help you by short-listing motivated sellers with homes which can be transformed for less. Many sellers don’t have the time or energy to improve their home, even when all that’s needed are basic renovations such as a lick of paint. When it comes to finding the right investment property you can use this to your advantage, as problem home sellers will be keener to sell, rather than deal with the problem themselves.
Are you ready to invest and improve?
Making money from property investments takes time and energy, as well as reliable property advice and guidance. Before you think about finding the right investment property, take time to consider your own motivation, knowledge and circumstances. In addition you should weigh up all your outgoing improvement costs, so that you can make a realistic offer which will give you the maximum profit.