By December 13, 2012

6 Steps To Getting The Property Investment You’ve Always Wanted In The Current Climate

If you were ever thinking about getting into real estate then this could be the perfect time. The housing market has dropped in recent years and we all know why. If you have money available it could be a shrewd investment to get in now while you can get a good deal. There might not be a lot of people who want to sell their homes, but with some they might not have any choice in the matter. That’s good for you, so let’s go over some things to think about. Have a good think about it and decide if you’d like to get your toes wet.

Decide where you want to buy

In the past, the furthest you might have went is the end of the state line. Because of the power the Internet gives us these days it’s easy to buy a property anywhere in the country. This means you can search high and low to find the place that represents the best deal. Because you’re not going to be living there it doesn’t really matter where it is. If you need to jump on an airplane to see it then the difference between a 1hr and 3hr flight means nothing.

Hook up with someone you trust

Perhaps you would rather not jump in with both feet first. You might have a friend that also wants a piece of the pie and you could hook up and go in on it together. If you’re a first time homebuyer then it’s a great way to do it. You’ll both have each other for support, and the case for a mortgage will be much stronger if there’s two people asking for half the money each. Remember that you need to trust them. Never get into business with someone that can’t be counted on.

Get the go ahead from the bank

Once you find somewhere you like, you don’t want to be running around trying to arrange the mortgage. Someone will swoop along underneath you and steal it from under your nose. You want to find your ideal property and put your offer in subject to appraisal. This means you have your name half-written and you have a much better chance of getting the one you want.

Let the hunting begin

Now it’s time to start looking for your ideal property. Go talk to real estate agents and make sure you get one who specializes in helping people buy property. They should be able to give you some great advice and help locate what you’re looking for. Don’t be afraid to speak to more than one company as you could find something better all because of one quick phone call.

Get yourself a list

Write down everywhere you are considering and get the agent to send a print-out of each one. Now you can take a little drive around the properties and start looking at each one in closer detail. This will help make your decision much easier and you can whittle them down. When you have some you like you need to make appointments to see each one. Go see them and write down everything you like and what repairs you’ll need to make.

Throw in an offer

Obviously this step should only be started when everything else has been sorted, but sooner or later you’re going to have to start putting some offers in. If you’ve spoken to your bank you should already have the mortgage sorted. Hopefully you can then get the sale done as quickly as possible once you’re sure it’s what you want. Make sure the agent knows you want to act quickly.

Please be careful

Sometimes when investing in property we get caught up in what we love, instead of choosing somewhere that is going to prove the best investment. You really need to take your heart out of it when you’re making decisions. If you did go with a partner you can sometimes help each other see sense. You need to buy the property that has the credentials you want. Not because it’s pretty.

The writer of this article is Alex Hunt. He works as a real estate agent with Abercromby’s Real Estate Company. It is one of the leading real estate agencies that helps you buy, sell or rent luxury homes.

Posted in: Buying a Home

About the Author:

Jon Clark is an Internet Marketing Consultant, Entrepreneur and current editor of the Facebook Marketing Blog. Jon loves coffee, sports and NY. You can follow him on Twitter @jonleeclark or circle him on Google+.

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