Tips for Investment Buying

There are many foreclosures on the market and it is important if you are a novice investor, not to be enticed by price alone. Below you will find a few tips to keep in mind if you are thinking about purchasing a foreclosure home as a rental:

• Understand the local market including the demand for rental real estate; a Realtor can be a wealth of information about the trends of the local market
• Have a plan when purchasing an investment property which should include the length of time the property will be in your possession and the monthly cost; purchasing a home based on a low price and emotions is never a good idea
• Evaluate your budget for the list of possible defects requiring costly repairs
• Consider the final outcome of the investment property; determine how long you plan to hold onto the property

As a new investor, exercising due diligence and calculating the upfront costs (taxes, vacancy cost, general upkeep, etc.) on your investment property will save you from purchasing a cash drain.

Provided by:
Teresa Jones
teresa.jones@prudentialcarruthers.com
Prudential Carruthers REALTORS
400 N. Washington Street | Alexandria, VA 22314
202.510.3833 (Direct) | 703.836.1464 (Office)
703.836.5864 (Fax) | 800.799.1464 (Toll free)
http://teresa.jones.pcragent.com/

INTEGRITY * SERVICE * RESULTS

To get started on finding your dream home, call or email me today!