5 Deadly Mistakes Most Investment
Property Buyers Make
...be sure not to enter the
Investment Property arena blindfolded..."
Not Making a Profit From Day One
Make sure your interest rate will allow for a positive
cash flow when you rent the property. While you will hopefully make
equity over time, cash flow is often a make or break consideration.
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Choose the Right Amount For Your Down Payment
Twenty percent down used to be the necessary amount to
get into an investment property, but today ten percent can be enough.
Be aware that the down payment amount will usually influence your
interest rate, and interest rate will determine your properties cash
flow.
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Not All Mortgage Brokers Are Created Equally
Be sure to ask your mortgage broker about available
loan products, terms and rates, and when comparing brokers, be sure
you compare 'apples to apples'. A subtle difference could save
or cost you thousands.
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Your Real Estate Agent is Unlikely to Understand the Process and
Unique Needs of an Investor
Your mortgage broker and real estate agent need to work
in concert for the best possible outcome. Only hire a real
estate agent with investment property experience.
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Not Understanding the Purpose of Your Investment
Do you plan to “fix and flip”, rent, or sell the
property to another investor? This is a big question in
selecting the best mortgage product to meet your needs. Make
sure you have considered this carefully and discussed all your options
fully with your mortgage lender. Subtle differences in your loan
could cost or save you thousands.
Mortgage regulations have changed significantly over
the last few years, making your options wider than ever. Subtle
changes in the way you approach mortgage shopping, and even small
differences in the way you structure your mortgage, can cost or save
you literally thousands of dollars and years of expense.
Get the Right Information
- Whether you are
about to make your first investor or seasoned veteran, it is critical
that you be informed about the factors involved.
Everyday people are considering purchasing an
Investment Property and making some quick money. Don't be
fooled. Surely you would agree that investment decisions
shouldn't be taken lightly, and an Investment Property purchase is no
different.
By taking these few minutes to acquaint yourself with
the "5 Deadly Mistakes Most Investment Property Buyers Make"
you can greatly increase your chances of making your investment
successful and save thousands on your mortgage.
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Direct
Office:
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858-272-5510
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Personal
FAX: |
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858-272-6135 |
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| Gar C. May, Broker/Realtor® |
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1357 Hornblend St. San Diego, Ca 92109 |
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| Copyright © 2005
Lease Purchase Solutions, Ltd., All Rights Reserved
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