Neighborhood Realty continues to be in the spirit of gratitude. We would like to thank all of the staff, clients, lenders, title companies, insurance companies, and especially our families for making our success possible. Real estate can’t be done by one person, you need a team of people in and out of your company to help a transaction be successful and smooth for everyone involved. Taking that into consideration, as a buyer you should make sure you have the right team working for and with you on your investments.

As your trusted advisors, we encourage you to have a trusted and reputable agent, lender,title and insurance company who will help you navigate the process of purchasing an investment property. Just because a home is bank owned or might be facing foreclosure, it doesn’t mean it is the best deal out there for you. You might be comparing them to what they previously sold for and thinking: wow, I’m saving over $50,000. Please consider what are the rest of the homes being sold for and why, the condition and problems of the others. Have an agent that knows what he/she is doing create an extensive Competitive Market Analysis. He or she will put in as much details of the home, including damages and improvements, to let you know what is the estimated value of the home.

The best advice I can give you is to think above and beyond the listing price. A home that is selling at a lesser price than the home next door might have some hefty expenses attached to it. For instance, that home may not be free of judgments, liens, and there might be improvements that will raise the cost in the future. Are all the extra expenses and time worth it to you? Definitely don’t forget that sometimes banks will not carry some of the closing costs, you might also have to pay that out of pocket as an investor.

Just remember, the cheapest investment deals, don’t necessarily promise the highest return.
For any additional concerns or questions about investing, call our office at 702.949.0790.

Tracy Castro,REALTOR(r)
Neighborhood Realty
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