Submitted by Curt Amesbury All too often I run into investors who have bad experiences working with their existing Property Manager. If you are making an investment in real property that you cannot visit yourself, then it is a good idea to properly screen and select the local manager who will be guarding your investment. Some criteria for selection
Submitted by Curt Amesbury While almost everyone is familiar with traditional Home Owners Insurance, being the owner of a non-owner-occupied investment property is a little different. As a new investor (and assuming you have a general idea of the type, size, age and location of a property you might buy) I recommend that you talk to a few insurance agents.
Submitted by Curt Amesbury Anyone who wishes to invest in real estate for wealth building and/or income generation should have a good accountant or CPA. That being said, here are two quick “back of the envelope” ratio models that many experienced investors use to see if the investment property makes economic sense: GROSS RENT MULTIPLIER GRM = Purchase Price/Annual Rental
Submitted by Curt Amesbury Okay – so we have an idea of the area and the type of property you want to invest it. If you have options to use cash vs. leverage, remember that cash is king! Since we are not accumulating wealth by appreciation, using cash can drive the best and fastest deal from the buyers perspective
Submitted by Curt Amesbury So – if you want to invest in real property then Rochester/Monroe County is THE place to maximize your return. It is NOT the place to realize appreciation unless you intend to keep your property for some time (years). Before you start, first think about your comfort level. Do you like the