beginner's guide to buy rental properties
Post on 29-Nov-2014
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BEGINNER’S GUIDE TO BUY RENTAL
PROPERTIES
ASK YOURSELF
WHY YOU WANT TO BUY A RENTAL
PROPERTY AT THIS POINT OF
TIME?
HOW TO FINANCE YOUR FIRST RENTAL
PROPERTY?
TIP #1
FIND A MORTGAGE BROKER
TIP #2
DETERMINE THE DOWN
PAYMENT WITH BROKER
TIP #2.1
GENERALLY BE 20% OF THE PURCHASE PRICE OF THE
PROPERTY
TIP #2.2
SHOULD GET A FIXED RATE OR VARIABLE RATE OF INTEREST
FOR YOUR MORTGAGE.
TIP #1
CONTACT LOCAL REALTOR OFFICE
TIP #1.1
GIVES A CLEAR CUT IDEA REGARDING THE LOCATION OF
POTENTIAL RENTAL AREAS, PRICE RANGE ETC.
TIP #2
FIND OUT WHERE YOUR MORTGAGE
BROKER IS INVESTING
TIP #2.1
INVESTING IN THE SAME AREA OF YOUR MORTGAGE BROKER IS BETTER AND SAFE ESPECIALLY
WHEN YOU ARE INVESTING FOR THE FIRST TIME.
TIP #1
PROPER TRANSPORTATION FACILITY
TO THE PLOT
TIP #2
PROPERTY TYPE
AN IMPORTANT FACTOR
TIP #2.1
There are various property types like :
Detached homes
Semi detached homes
Townhouses
Condominiums
&
Multi-family buildings
WHEN ARE BUYING A RENTAL PROPERTY ?
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