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Buying Investment Property

andviv

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Jul 27, 2007
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This article talks about some of the basics of buying investment properties. I wanted to share it here with you guys.

When sellers of income properties increase the net income by honest means, the property should sell for more. However, there are many dishonest ways, both legal and fraudulent, that are sometimes used. Sellers of houses may cover foundation cracks with plaster, but the tricks used by sellers of income properties aren’t about appearance. These tricks are about income and expenses.


Read the whole article here
 
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Adam

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That's a good "buying 101" article.

The problem with getting into the income property game is that many people don't know how to accurately read the income and expenses. People also forget that every investor is going to run at a different expense margin.

Example -

Your cost of insurance might be significantly lower than mine.

I may lease the properties myself while you may have to pay a leasing agency.

I may have a full time maintenance staff while you may have to sub it out.

You may self manage with I have an on-site manager.

I may spend more on property appearance while you may go bare minimum.

The list goes on and on...
 

GoldenEggs

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That's a good "buying 101" article.
The problem with getting into the income property game is that many people don't know how to accurately read the income and expenses.

I agree that many people don't know how to accurately read the income and expenses. I'm finding within my own group that people also don't know how to read/understand comparisons, such as the IREM metro report or market information from brokers.

There is a lot of information available but it's worthless if someone does not understand and does not ask for clarification.

Some of my partners want to go down the ugly legal path because they did not understand the information that was given to us.
 

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