Here’s some advice for potential investors:
* Buy in a familiar neighborhood, near where you live, work or go to college.
* Research the area thoroughly, identifying potential properties and other business opportunities.
* Observe trends, costs, vacancies, and potential appreciation.
* Assess your own skills. If you have to hire out maintenance, costs will hit the bottom line.
* Start small. A single-family home or a duplex is a good beginning. Plan to hold it for at least three years.
* Avoid foreclosed properties. They are complicated to buy and they aren’t a guaranteed deal.
* Be pre-approved for financing. Most investment property loans require at least 10 percent down.
* Remember, dealing with people is key, so hold onto your sense of humor.
Source: Star-Tribune, Lynn Underwood (10/20/07)
CONTACT ME for assistance with RICHMOND REAL ESTATE
Mohamed Mekhimar
Realtor®, Accredited Buyers Representative
RE/MAX Commonwealth
mekhimar@remax.net
(804) 243-0605 Cell
(804) 288-5000 Office
(804) 288-8989 Fax
http://www.richmondvahomes4sale.com
Licensed in the Commonwealth of Virginia
By the way...if you know someone who is interested in buying or selling real estate in the Richmond Virginia area and surrounding counties, please call me with their name and phone number. Thank you!
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