8 Things You Need to Know Before You Buy Investment Property

TIm THOMAS TIm THOMAS Learn more

Buying your first investment property can seem daunting. However, getting started in real estate investing can be a great way to move forward on your path to financial freedom.

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Pros and cons to investing in real estate.

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Single-family vs. Multi-family

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How To Pick A Property

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Loans

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Building Your Team

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Acquisitions

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8 Things You Need to Know Before You Buy Investment Property

Buying your first investment property can seem daunting. However, getting started in real estate investing can be a great way to move forward on your path to financial freedom.

Pros and cons to investing in real estate.

Pros – Cashflow – Effective use of leverage – Appreciation – Potential Tax Benefits Cons – Not hands off – Low Liquidity – Could lose value

Single-family vs. Multi-family

When deciding on your investment strategy for your first property, you will have to choose between buying a single-family residence (SFR) or a multi-family building. While many people see purchasing a single-family as a steppingstone into multi-family, that is not necessarily the case.

How To Pick A Property

Real estate investing is not a one size fits all sort of process. It is crucial to figure out your preferred investing model, define what property fits this model, and find a property that fits these criteria.

Loans

Getting a loan on an investment property can be a bit different than a mortgage on your primary residence.

Building Your Team

Please do not go out to the world and ask people if they will be on your investing team. Relationships with the people you will work with for investing in real estate should be more organic than this.

Acquisitions

It would be best if you looked on the MLS, and it is typically the easiest to use your own buyer’s agent for this.

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