What Is Investment Property? An investment property is any property - a house, an apartment building, a condominium or commercial real estate - for the purpose of earning a solid Return on Investment (ROI). This ROI could be through renting out the property, reselling it or both.
Why Buy Investment Property?
The main purpose of buying an investment property is to earn a profit. This can be done in two ways; through the monthly rent or income you make from the property or by the price you get after selling the property.
In both cases, the ROI is determined by the cost of the investment and the income you generate from it. The first step to determining how you can save money when buying investment property is to ask yourself why you want to buy. Will you rent it out or will you sell it?
This will determine how much money you should spend on remodeling, renovating and repairs. Keep in mind that investing in a rental property means your initial investment (cost of property plus expenses for repairs and renovations) is going to be tied up for a long time.
How Can I Save Money while Buying Investment Property?
Once you have a clear purpose in mind, we can then look into ways to save money when buying investment property.
If buying for the purpose of rental income, you should keep these in mind:
- Do not spend too much on remodeling or renovations
- Make necessary repairs and make sure everything is in good working condition
- Calculate the property taxes
- Calculate the profit you could possibly get when you sell
How Can You Help Me Save Money On Investment Property?
Great, question! Free is free is free!
1. There is no fee for our service (Oh yes, you heard me correctly). Our allegiance is to you (see Mandatory Agency Disclosure) but we are paid by the seller.
2. We are trained in negotiation and can help you get the best price possible for any property you are interested in.
3. 17 Year career. We know what we are doing.
Simply put, you are very important. We earn our income by helping you and yours. If you are satisfied with our level service, you refer us to your friends, colleagues and write a positive review. It’s a win-win situation for both of us.
4. Lender & Attorney team.
If you work with a lender who is on the attorney’s list the legal cost is often 50% less!
5. Closing Credit
We offer $500.00 closing credit for buyers who choose to have their homes managed by BBA Management, Inc. Many owners choose to use this amount to pay their legal service fee or first year’s property management service fee thus saving money when buying investment property.
For any assistance about investment property or property management or for the sale or buying of property, please contact us at 617-734-6900 or email@example.com.