Find the Best Investment Properties!
Wether your looking for properties to live in or for investment.
These 3 tips will be sure to help you find the best investment properties!
1. Use the right search tool.
Using the wrong kind of search tool can hinder your success in finding the best investment properties in the south florida area. There are many option out there to choose from, the amount of tools are endless and almost always free. So how do you decide which is the best out off a sea of search tools available? Look at the 3 important factors that will determine a search tools potential for helping you find the best investment properties. First, make sure the information is accurate! If your a realtor use the MLS, how ever if your not like most, then just use a search tool that is connected directly to the MLS. Websites like Zillow or Craigslist are not connected to the MLS, and many listings are expired or inaccurate since they can be added by any one. Second, make sure the tool shows you all the important facts of the property, like MLS Number, Square footage, full description, price, full address, and most importantly pictures just to name a few. Lastly, the tool must have account sign up capabilities. By this I mean, you want to be able to save your searches, as well as the properties that your interested in. The property search tool on the Oticy Real Estate website has all the capabilities mentions above free for you convenience.
2. Do Research & Compare Local Properties.
Once you have searched online and found a few properties that you are most interested in, it is important to do some research on the subject property. This can be done online as well as by your local Realtor who has access to information the general public does not. He can access tax information, as well as history of the property in ownership and prices. Another very important method of research is comparing the property to other similar properties to establish what the property is worth versus what the asking price is. Oticy Team Realtors are trained in creating CMA’s (Comparative Market Analysis) on properties, and will be able to give you a full report on the property of interest at no cost to you. The report will help you determine what really the best investment properties are, and will also contain neighborhood statistics, crime rates, and much more.
3. Preview Potential Properties with Experts.
Don’t try to find the best investment properties all alone when its free/affordable to do it with local experts. When you have found & researched some great properties you think might be the best investment properties for you. Then go preview them by requesting a showing with either the owner of the property if you know them personally, or your local Realtor can make a showing appointment at nearly any South Florida property listed on the MLS that is currently active. Your Realtor will also assist you during the showing, and as a Real Estate Professional he/she will able to give you vital information only we know from many past experiences. If you have narrowed it down to one property it is normally okay to bring a local professional along with you on a 2nd or 3rd showing of the property to give you an estimate on something that may need repair. You can find many professionals who are willing to give you free or low cost estimates on a variety of services. Previewing properties with your Realtor also enables you to act faster if necessary. Oticy Team members normally carry forms with them via hard copy or electronic ready to go when ever you are.
Written By: Mitchell Raman