Understanding Investment Properties
Buying a an investment property is a big financial investment and sometimes a stressful process. It is also a much different endeavor than buying a residential home.
- Could you use some guidance on how to buy a new property in Philadelphia?
- Are you interested in commercial investment property buying opportunities in Philly?
- Do you have questions about loans and contracts?
7 Tips For Buying an Investment Property
- Do your homework. Talk to other investors and developers and learn what works and what doesn’t.
- Save up. You will need to build capital. Cash will be required for the down payment.
- Consider all of the costs of ownership.
- Think long term. Though the real estate market has its ups and downs, investing in a great property in a great location has the potential to ride out any dips in the market.
- Have some imagination! You need to be able to see potential. Visualize the space for what it could be and not what it is up front.
- Consider taking on a partner if it is your first time investing in a property. Someone with knowledge and experience could be very helpful.
- Develop a management plan ahead of time. It will make the process and your life so much easier.
The Investment Property Buying Process
Tom Englett, an experienced Philadelphia Real Estate agent, has a unique approach home buying. He starts by breaking down the process step-by-step and easing the stress associate with investment property buying. It is his job to assist with all of your financing and refinancing needs, questions and concerns. He can answer all of your questions about complicated loans and mortgages terms and contracts.
With extensive knowledge of the Philadelphia commercial real estate market, Tom can help you decide where to buy, how to buy, when to buy and all of the small details in-between.