Whether you are a beginner or an experienced investor, you should always be the guru who has read a few books, and guard was armed with some general information. I do not mean the seller of books and tapes, but the broker, wholesaler or self-proclaimed experts of real estate, trying to sell you an investment property. Whether you buy a property or go into business with someone, you should always do your homework.
In this article, the first of two parts, I will list some of the questions you should ask someone before working with them.
1) Are you personally, Investor and the number of properties you own in the area? If they “no” answer or say that they rent an apartment, run!
Respect for the book and smooth turnover bands who do not know about the capital goods and nothing about the local market. They take your money and run. I met a new investor who had paid last year over 000 $ to attend a two-day seminar given by a man from California who knew nothing about the Atlanta market. Nothing good can come from this. Deal with people who not only know the concepts but can help you find the right properties to invest in
2) Can you give me a list of bank owned and foreclosed properties in my area?
If they do not provide this, run!
If they can give you a list, select a course and ask the next round.
3) What is the value of the property tax?
This is a “Duh” question – if the seller or investment professional can not give the taxable value of a property, they have a professional change. Would you by the number of “professionals” who do not even know where to start to be amazed to find this information.
In general, the taxable value or the value of property consultancy in Georgia brought Rule 10 to 20 percent below market value. When I start my search for the possible deals, the first thing I look for properties under the value of the property on the Internet is inexpensive.
Example # 1
Price: 0000
Value Consulting is 0.000
This could be a possibility because I value the sale of the house to 10% higher than the estimated value of the advice or 2000.
Example # 2
Exactly the opposite # 1 – List Price 0.000
Value Consulting is 0.000
I probably would not apply to this house because I value the sale of the house at 0000 estimate – no deal here
!
Remember, the tax is only one factor to consider before buying a house, but I think it is a good starting point. If someone tries to sell a lot, and they can not tax, it could be that they do not want you to know.
4) Can you give me a list of comparables in the area?
Another “Duh” question. Most agents can create a Comparative Market Analysis (CMA) shows the sales history for the past year for the following categories: Sells, has expired, contract, and Active Trading. In addition, the broker should be able to provide a forum for market analysis (MSA), the average number of days on the market by category.
5) How many days was called this property on the market (as days on the market, or DOM)?
If your answer is “I can not access the information design Each agent should know this information is available, but the trick is to find, thinking it is because do not coincide duration des property on the market with the date of the seizure of power. . It could be 30 to 60 days after receipt of a property excluded from adjusted with a realtor and MLS was.
Why the big market days? The longer the property on the market – the most flexible of the seller. Banks and other financial institutions are not in the property management. running costs include loss of income, maintenance, insurance and possible vandalism. I want a lower offer on properties that were in the books of banks more than four months to make. Offer fast cash – the flexibility that banks While they provide the only on the property
can be received will be surprised.
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