10 Pitfalls to Avoid When Analyzing a Deal
One
Taking too long. Deals in today's markets don't wait for indecisive buyers. Many buyers over analize a deal.
The best way to lower your anxiety level is to work with a trusted Real Estate Agent
Two
Even in this down market sellers and buyers should look beyond current appraisals.
Three
Trusting the seller's numbers. Even with only good intentions, most sellers aren't knowledgeable enough. Sellers are inherently biased.
Four
Always work with current value numbers and if they can be changed work toward your favor.
Five
Don't over or under estimate current market rents. The best way to know rental markets is for your realestate agent to do a local rent survey.
Six
Both buyers and sellers misunderstand 'as is' value. So many investors forget that to turn a house in 60 days or less requires the price to be real - not pie in the sky.
Seven
Work with your agent to move the process along. This involves more than just the bank's part of the buying/selling process.
Eight
In each instance know the seller's actual selling motivation and timing. True equity position. Potential property cash flow - both short and long term.
Nine
Never underestimate the time it will take to refurbish and sell or rent. Your real estate agent can be your best friend here.
Ten
Understand how each property fits into your overall investment plan
I take your privacy seriously. I will never share, sell, rent or disclose your email address or personal information with any third parties.
"Helping One Family at a Time!"
Please contact Mary right away. You will be glad you did!
Mary's email: mary@maryparkin.com
Or by Phone: 602-882-8080 and Toll Free at 888-211-8803
You can also visit my new web site: http://www.maryparkin.com
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