If you are thinking of investing in the housing market, now is definitely the time. Prices have gone down, the credit market is poised to loosen up, and there are lots of deals to be had. Here are some things you will want to consider as you search for the perfect house.
1. Location, location, location.
Identify a “sweet spot” for yourself; an area you’ll always buy if the price is right. Pick a few Denver metro area zip codes, and concentrate looking and buying in those areas. The Cherry Creek school district always attracts buyers, and experienced investors are snapping up houses around Fitzsimmons.
2. Deal or No Deal?
Most importantly, find a realtor you trust. He or she can give you critical information on analyzing the deals and market trends for the neighborhood. Right now, foreclosures are at an all time high, and this is a fantastic time for finding an investment property in Denver.
3. Show Me The Money.
Find an experienced wholesaler you can trust; someone who finds the deals and sells them quickly to other investors. They earn a small profit and leave the lion’s share of the equity in the property for the investor. Wholesalers won’t be around long if they don’t create good profit margins for their buyers.
4. Should I Buy A Fixer Upper?
If this is your first investment, you may wish to find a home close to move-in condition. Listen to your instincts when viewing the home. If you wouldn’t want to live there, no one else will, either. Unless you have remodeling skills or a trusted handyman, a “fixer-upper” can become a giant headache.
5. The Competition Factor.
Many real estate agents are also investors, and many investors have agents who are constantly on the lookout for them; there are lots of people out there ready to grab up the obvious deals the minute they hit the market. Try to go under the radar. Establish a relationship with the best buyers agent or wholesaler in your area; do your own research and find the best deal maker you can find.
Now that I’ve given you these 5 hot tips for buying investment property in Denver, click on the link below for the ultimate Denver investment real estate and wholesale real estate deals. Go to http://DenverInvestorDeals.com & join our buyers list where people are making huge profits working with us. I look forward to working with you.