How to Find Investment Properties
How to Find Investment Properties
There is no right or wrong way to find investment properties, but knowing how to find investment properties can speed up the process of establishing your business.
In this article, we share the four best ways to find investment properties for sale near you and what to look out for before deciding to purchase a property.
How to Find Rental Properties for Sale Near Me
The key to finding your next rental property is knowing where to look for available properties and the different options real estate investors can explore. We outlined four methods you can use to discover rental properties for sale near you.
1. Work With a Realtor
According to the National Association of REALTORS® (NAR), more than half of Americans that handled the property search on their own experienced the most difficulty in finding the right property. For this reason, many opt to work with a trusted Realtor to help find properties that meet their criteria.
Hiring a Realtor can be highly beneficial when searching for investment properties, especially if this is the first one in your portfolio. They can identify off-market listings — properties that are for sale but have not been listed online by the seller — which can help you find prime properties before other real estate investors. There are also Realtors that have special credentials in negotiating that can help reduce the asking price or get you an overall better deal on the property.
The experience. The tools. The know-how. As your local full service RE/MAX® Bardell Real Estate team, we make it our top priority to make the process of buying and selling a home as simple and as stress-free as possible. No one knows the area better than our trusted real estate professionals who live and work in our local communities. Please don’t hesitate to contact us today!
2. Find Local Wholesalers
A real estate wholesaler is someone that works directly with potential sellers that has negotiated an exclusive right to purchase the property. They then assign the contract to a buyer at a higher price point to make a profit. They can typically be found online or be referred to you by a real estate professional.
Since this method of finding investment properties does not readily provide background information on a property, you may want to analyze the rate of return on the property before purchasing.
3. Buy From a Courthouse Auction
Foreclosure properties and those going through tax sale are typically required to go to a public auction, which can be another great way to find off-market listings below market value. Depending on where you live, you may need to go to an auction in-person or virtually depending on how courthouse auctions are handled near you.
It’s advised to have money set aside to handle renovations, major home repairs, and cover other expenses for these types of properties since they typically require more work to prepare for renting.
4. Directly Connect With a Seller
If you come across a property in your area, then you can connect with the seller directly to learn more information on the property, the asking price, and potential buying options. This could especially help if you’re planning on buying a property without a Realtor.
But if you’re still familiarizing yourself with real estate investing, you may want to consider looping in a real estate professional to ensure the right questions on the property are being asked, you have information on the property, and the asking price is fair.
What to Look for in Investment Properties
Finding investment properties is only one step of the buying process — the next step is knowing what to look for in investment properties. When it comes to investment properties, here are a few things to look for to ensure the property can help generate income each month:
- Neighborhood: Tenants prefer rentals that are close to recreational parks, public transportation, and grocery stores. It’ll also help if the property is close to schools or college institutions.
- Local rental demand: There should be a local demand for rental properties to avoid long vacancies and make a profit through your rental property.
- Amenities: The more a unit can offer a tenant, the easier it will be to generate tenant interest and charge a rent price that can ensure you make a profit each month.
- Property taxes: Every city varies in how much property taxes are, with some being higher than others.
Experts in Residential Real Estate in Orlando
If you are buying or selling real estate it’s quiet often the single most important financial decision you make. For the last 30 years we have helped clients buying and selling property in Orlando and the surrounding areas. Put simply, this means the knowledge and expertise accumulated over this time ensures our clients get the best representation possible.
Our experienced agents will help and guide you through the entire process providing valuable support every step of the way.
Ready to make a Move?
Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.