Every experienced investor establishes a solid support team that consist of real estate agents, lawyers, lenders & accountants. They in turn understand the investor’s motives and support the investment initiates and decisions.
Review the documentation thoroughly
Properties will have liens and encumbrances registered against them, ask for a title search. Last thing you want is to be paying for the debt.
Prepare Itemized list of repairs and expenses to negotiate with lenders.
Less $ 5,000 for repairs
Less $ 10,000 for liens
Less $ 4,500 for closing expenses etc etc
Then start to negotiate at 1/3 of the debt amount!
“Don’t forget to take pictures and document your findings.”
Evaluate your selection and determine the Potential
Make sure it meets your investment objectives, if your thinking of using it as a rental property then it should meet Your income objectives.
