Ok...so I finally finished the first part of this book. I usually don't take so long reading a book--any book--but I've had to squeeze this one in here and there. No biggie since I'm not ready to invest yet anyway.
The first part was pretty interesting. I learned some things, some I already knew, and others I just skipped because it really didn't pertain to me at this time.
The items they talked about that were obvious at least to me were to:
Something I learned that helped validate what I was planning on doing was that single-family homes and/or apartments (4 units or less) are the top recommended choices for investment properties. My plan is to buy (one at a time and as I'm ready) in the town I currently live in and the one next door. This gives me more options of single-family homes, duplexes, and quad apartment homes. Plus I know the areas well.
Other good advice they give is to build a team prior to buying.
The first part was pretty interesting. I learned some things, some I already knew, and others I just skipped because it really didn't pertain to me at this time.
The items they talked about that were obvious at least to me were to:
- Pay off all your consumer debt
- If you are a business owner, buy the building you are utilizing
- Max out your retirement accounts
Something I learned that helped validate what I was planning on doing was that single-family homes and/or apartments (4 units or less) are the top recommended choices for investment properties. My plan is to buy (one at a time and as I'm ready) in the town I currently live in and the one next door. This gives me more options of single-family homes, duplexes, and quad apartment homes. Plus I know the areas well.
Other good advice they give is to build a team prior to buying.
- Find a good tax advisor/accountant with property investment experience
- Work on a relationship with a mortgage lender or broker (thankfully I already have someone I can contact that I feel comfortable with)
- Find a real estate broker and agent with a solid track record in investment property transactions. He/she should also be a single agency representative meaning he/she will work for you and not the sellers
- An appraiser is extremely important when considering buying an investment property
- An attorney can be helpful and sometimes necessary
4 comments:
nice blog very good and thanks for giving us the details
Property Investment Advice
thanks
Thank you, jay,for the comments.
thanks for sharing your reading experince with us
now we dont need to read book...
jocking.....
investment properties
Jay,
I appreciate your comments, but only one comment per post please. All others will be deleted. Thank you.
Post a Comment