THINGS TO CONSIDER WHEN BUYING AN INVESTMENT PROPERTY

December 23, 2024

by admin

The business of purchasing an investment property can mostly be fun and exciting for new investors. However, there are lots of things that goes into buying an investment property. Buying an investment property is a huge investment and so requires more from you than fun and excitement. It is not just about selecting the most beautiful or the biggest property. It requires your time and attention, reason why investors are separated into classes; successful and struggling. To help you make the right choice when buying an investment property, at InvestWay Group, we have compiled some basic mistakes real estate investors make. Contact the Investway Group now to get the best investment assistance in Tampa, Florida.

Common Mistakes Made When Buying An Investment Property

Negligence of Due Diligence: Before buying an investment property, you need to investigate the actual worth, the pros and cons of the property that you are planning to buy. When you carry out due diligence on the process, it helps you know what similar properties are worth, and their price tags. Due diligence helps you know the benefits of buying from a particular neighborhood, and helps you with profit projection. Without due diligence, you can never know the property’s market value, which is tantamount to a bad purchase.

Streamlined Options: When buying an investment property, there are countless options before you. You need to look at the different investment properties available in the area of interest before committing to one. For maximum success in real estate investing, you must not rely on just one source of information. Always know that a realtor’s major goal is to close a deal, and most of them would say anything just to get you to buy. Once you buy, they get their profit, and care less about your investment pitfalls. Realtors are mostly an excellent source of information, however, it is better to avoid taking financial advice from them, and seeking out which deal is better or good from them.

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High bid at auctions: When buying an investment property, bidding war is a bad pointer. If you come in contact with an investment property another buyer is highly interested in, it is better not to get too involved. Getting into a bidding war makes you offer an unreasonable price for the property without due diligence; knowing the property’s worth.

Investing in a depreciating market: When buying an investment property, don’t be over excited that you are getting a ridiculously low price – it could mean doom. Never buy an investment property in a depreciating market where the prices are falling. When you buy, you do so in hope of an appreciation, not a depreciation. Your calculations for a rise mostly won’t work, so it is better to stay off.

Not having a sizable deposit: When buying an investment property, a big deposit saved up helps you to buy the choicest property and not just what you can afford. It is better to buy a suitable property that fits your investment goals, rather than being forced to buy because it is all you can financially afford.

Emotional mix: You need to see a property as an investment that can yield profit, as an investor. Never buy an investment property because of any emotional attachment. Getting attached emotionally to a property will cause you to overpay, with an increased chance of completing a bad deal.

Failure to consider other expenses: In the process of buying an investment property, it is a costly mistake to think that all you will be paying for is the property’s purchase price. There are many other expenses associated with buying an investment property, which you must consider in order to end up with a good deal.

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Negative Cash flow: Maintaining a healthy cash flow position is key as an investor. A positive cash flow property makes you money, with little or no contribution on your part. This helps you increase your investment in the future, and helps drive your desired investment goals.

Buying an investment property can’t make you rich overnight, however it can make you rich in due time when all these mistakes are avoided. It’s all about educating yourself, listing your goals, creating a solid plan, doing your research, investing, and repeating the process.

To ease the process and get great deals, it is better to work with an investment property firm like the Investway Group in Tampa, Florida. Get started here!

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FINDING THE BEST WHOLESALE HOUSES IN FLORIDA

Thinking of investing in wholesale houses in Florida, or are you just interested in acquiring some more properties for your investment portfolio? Or are you a beginner in the real estate business who needs established partners to make long term success? Investway Group is your best bet at getting your investment goals achieved in Florida. They offer the best wholesale houses in Florida for investment purposes.

InvestWay Group Wholesale Houses In Florida

We are a real estate investment company with the best wholesale houses in Florida. We have been operating in the Florida real estate market for close to a decade and has so far established ourselves as the wholesaler where other wholesalers purchase their wholesale houses in Florida. We are full-time wholesale property investors in Florida specializing in finding the hidden property deals that don’t make the news at about 30-70% off retail value.

We purchase investment properties with a high potential market value in the as-is condition, spruce them up and resell for good profits, which enables us to deliver high investment returns to our partners and investors. We have a dedicated team full of real estate experts that analyzes and determine our investment strategy and direction. When it comes to buying wholesale houses in Florida, we consistently find high profitable, but realistic opportunities regardless of the market conditions.

Our experience, networks, and capital resources allow us to be aggressive and tap into more profitable acquisition channels. We do not offer retail or low-equity investment properties at InvestWay Group so that we do not waste our investors’ time. Instead, we propose the safest and most profitable deals by acquiring and passing on the savings to our investors from great opportunities. The Investway Group wholesale houses are well good for long and short-term profit-oriented investors.

Wholesale Properties And Wholesalers

A wholesale property or house is a property that has been researched and acquired by a real estate wholesaler, an experienced and dedicated real estate enthusiast who has made a career out of being able to estimate which properties can be purchased for a low price, repaired, and resold for a profit. These real estate wholesalers acquire these properties for sale, turn around and assign those contracts to an investor willing to take the time and expense to make the necessary repairs. This strategy enables them to make enough profit at once since they can deal with many wholesale houses at a time.

How We Acquire Great Wholesale Houses In Florida

We have a proprietary marketing system with which we find the best wholesale houses in Florida for sale like, bank owned properties, REO’s, foreclosures, distressed properties, handyman deals, discount homes, abandoned houses, auctions, fixer-uppers, and probates. Our investment strategy helps us acquire these properties at excellent win-win prices for both the home seller and us. We then refine these properties and then pass the deals along to our investors and partners who are looking for great wholesale houses in Florida for investment purposes. Check out great wholesale properties we have prepared for your investment goals.

What We Do

Once we acquire a new wholesale property that fits our requirements, we work to make them fit for our investors, and then notify our investors of the deal. First, we notify our VIPs about the deals and later update on our web platform.

Because of the excellent investment property buying opportunity in today’s market in Florida, we add new wholesale houses in Florida that are far below market value to our list frequently. These investment properties then tend to get snapped up extremely quickly by our VIPs. More reason why we often advise that if you are interested in acquiring high rewarding wholesale houses in Florida, it is best to subscribe to Investway Group’s VIP’s list.

What are you waiting for as an investor? Partner with Investway Group now to gain access to the best wholesale houses in Florida that are off market to generate maximum return on investment.