DEFINE YOUR INVESTMENT STRATEGY

There are dozens of strategies for investing in real estate, so it’s important to clearly identify WHY you want to invest so we can guide you to these strategies that best align with your goals. Setting clear goals and honing in on the strategies that best fit your needs will help you maximize your returns and avoid potentially steep financial pitfalls.

IDENTIFY RESOURCES AND SECURE FUNDS

One must keep in mind that the expenses of buying a new home to settle in and the expenses of property to invest in are very different.

CHOOSE A TARGET MARKET

After you’ve settled on the mortgage and what you want out of your investment, it’s time to decide on a location and price point that suits your needs. There are a lot of factors to consider when finding a location.

SEARCH FOR A POTENTIAL PROPERTY

Finding investment properties requires searching for deals both on and off the market. An experienced agent can set up a targeted search for on-market properties that will comb through potential investment opportunities. Investors need to be a little more creative in searching for off-market deals.

ANALYZE PROPERTY CASHFLOW & ROI

As we mentioned earlier, buying a primary residence is different than buying an investment property. Though there are similarities in the offer, due diligence, and closing processes, there are additional items to consider for investments.

SUBMIT AN OFFER & NEGOTIATE CONTRACT

Using the data gathered in step 5, work with your real estate agent to determine your offer strategy. An experienced agent will help you negotiate the best overall package, providing insight on price, included contingencies, and what would make your offer stand out.

PERFORM IN-DEPTH DUE DILIGENCE

Finish identifying potential risks that your new investment holds; use this information to either renegotiate or walk away from a potentially costly transaction.

SETTLEMENT & POST-SETTLEMENT

Congratulations! Now it’s time to implement your business plan for your new investment. The next steps will vary, depending on your investment strategy.