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How To Buy Like An Investor
How To Buy Like An Investor
Have you ever wondered what exactly investors do to ensure that they get a return on their investment or get that "Deal"?? Well there are many different approaches but, like with most things, there are some commonalities and basics that must be understood and taken into consideration.
1. What market are you in?? - There are 3 different markets, and you ought to know them!
I. A Sellers Market: inventory is low compared to the demand = Prices are going up
II. A Buyers Market: Inventory is high buyer's have many homes to choose from = Prices going down
III. A Balanced Market: Demand and Supply are balanced = No Pressure on price either direction.
Knowing the different markets will tell you not only where to begin negotiations, but also what to expect from the seller once negotiations have begun.
2. The Home Hunt- Depending on whether you're in a seller or buyers market, the difficulty on finding a property that you can get into with equity gets harder or easier accordingly.
The important thing to do when you find a property that may or may not have equity is use an experienced agent like myself, or anyone on the A-Team, to show you what the property values at currently, the cost of improvements/repairs, and what the new value would be with improvements. With some simple math, you will be able to see what equity you would have going into the home, and what equity you'd be building each month.
3. Financing - How do you plan to pay for the property
There are several things to consider when choosing the right financial plan, and many loan programs available. The most important thing is to find out how fast you will be building your equity (our goal being to have already bought the property with equity). Keep in mind with a conventional loan you can remove Mortgage insurance once you're @ 80% Loan to Value, Which will make your payment lower each month. There is other options like the owner carrying the note or using private financing, but more on that in another blog. Feel free to email me @
if you have any further questions regarding financing and our professional recommendations.
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