Posted on: 26 September 2016
Purchasing a property for investment requires different considerations than buying a new home or condo. You'll want to find a real-estate agent who understands the finer points of investment properties to help you find the right purchase for your financial goals. Here are some of the things to take into consideration when looking for a real-estate agent to help you find an investment property.
While many real-estate agents have experience with buying and selling homes, finding an agent who specializes in investment property may help you to better meet your purchasing goals. Have an idea of what type of investment you are looking for before interviewing agents. Some agents may have more experience finding properties that can be flipped quickly for a profit while others may specialize in finding rental properties for sale. Ask potential agents about their past transactions, including what types of properties they've helped to purchase and how long the search for the right property takes on average. An agent who has purchased investment properties personally may also bring the experience you need to your transaction.
Purchasing an investment property takes a certain degree of negotiation skill. Your goal is to buy low and sell high, so your agent should be comfortable with negotiating on price with potential sellers. Ask any agents you are interested in hiring about how often they are able to purchase below market value, and ask about what the average percentage below market is for his or her transactions. An agent with a proven track record of completing transactions below market value may be just the person you are looking for.
Your investment property real-estate agent should be able to help you determine how much profit you can make off of your investment. For rental properties, he or she should be able to calculate expected cash flow. This will help you to determine whether a purchase will yield the income you need. In the case of flipping a house, your real-estate agent should be able to determine what types of improvements will need to be made to the home for the next buyer and whether or not those improvements fit within your budget while still letting you make a profit off of the sale.
Take your time and interview as many candidates as you can to find the right real-estate agent. Be sure the agent is licensed, experienced, and able to help you meet your financial goals as you look for your next real-estate investment. Talk to companies such as Charleston Harbor to find an agent that is right for you.Share