Important Considerations When Investing in Real Estate Property for the First Time

1. March 24, 2017 Important Considerations When Investing in Real Estate Property for the First Time Image 1: Investing in Real Estate Property Efficiently with Professional Help Investing in property can be one of the most effective ways to earn without having to actively do anything. The value of the real estate property does fluctuate depending on the market, but it’s something that will always be in demand and generally increases in value. Before you can enjoy the benefits of your investment, in residential or commercial spaces, you have to understand how to make the best out of it too. Here are some of the more important considerations you may want to factor in before diving headfirst intoreal estate investing. Consider Location A great tip for you to consider is to get the “worst” house in a great neighborhood. This is because it will be easier to improve even the worst house than to upgrade an entire neighborhood. This is especially brilliant for those who would like to get into the business of flipping houses. The resale value of a refurbished or renovated house will get a boost if it is in a great location. In real Page | 1

2. estate investments, the old cliché of “Location, Location, and Location” being of utmost importance rings most true. Ready Your Finances Investing in real estate takes a lot of money. Before even starting to look at the different kinds of properties to invest in, make sure you have the required resources. Get an updated credit report. Getting any erroneous entries rectified even before you enter into a new transaction such as a mortgage, would be to your benefit. It should also be advantageous to find out whether you have bad credit or not so you can remedy this even before you take out a loan for mortgage. A common mistake house hunters make is assuming they will only have to prepare their budget for the mortgage payments. There are other kinds of fees you will have to shoulder, including home inspection costs, repairs, improvements and additions, taxes, and other miscellaneous fees. Your real estate agent will help you make an accurate computation of the overall cost you need to budget for when buying property. Be Patient When Looking Regardless if you’re looking for properties to live in, or if it’s just for investment, it’s important not to settle for the first nice option that comes your way. Take the time to look at as many properties as you can before making a decision. Your real estate agent can guide you through the process and filter the choices for you. This should save you time and effort as you would not need to look at every property on the market, but only those that fit your criteria. An exclusive buyer’s agent like those from T.J. Lamb Real Estate can guide you through the complexities of property hunting and can lead you to a well-informed decision you will be happy with. About T.J. Lamb Real Estate: T.J. Lamb Real Estate offers exclusive buyer’s agent services for those looking to purchase real estate properties. We help our clients by simplifying the entire home-buying process and by Page | 2

3. making sure they get the best possible deals. We are based in Blue Springs, MO, but serve clients in the Greater Kansas City and Overland Park areas. Sources: The 7 Tips Entrepreneurs Need to Know Before investing in Real Estate. Entrepreneur. 5 Basic Tips for Investing in Real Estate. The HuffingtonPost. Page | 3